As the Professional Employer Organization (PEO) industry continues to grow, so do their service offerings - allowing you to choose who can best benefit your business. While the core focus in partnering with a PEO should be lowering your employment related costs and reducing your liabilities, don't focus solely on price.
PEOs offer a number of unique services that add up to thousands of dollars in time savings; while helping your business run safer, more efficiently, and with less overall costs. Here are five services that your PEO should offer that can dramatically increase the value of your PEO relationship.
Professional Employer Organizations who offer online payroll present a number of ways to save time and money. They allow you to integrate payroll with your accounting system and improve accuracy by eliminating double data entry and third-party involvement by applying payroll data to your general ledger.
Some of the features of a PEO's online payroll include:
- Electronic W-2 processing and delivery
- Benefit reports, e-pay stubs for employees
- Billing and job costing reports
- New hire submissions
Plus, with multiple security levels, employees can access personal information, reducing time spent on employee inquiries.
Employee handbooks act as guide for the rules and expectations of your company. They discuss benefits eligibility, vacation pay, paid-time-off, maternity leave and serve as a reference for future questions. Most businesses either have no employee handbook, or haven't updated the one they have in years. Employment laws and regulatory changes occur often. A PEO company that will tailor a customized handbook for your business can be a tremendous benefit.
The advantages of a workplace safety manual are limitless. They help to increase awareness and reduce accidents keeping your business and employees safe and healthy. Workplace safety manuals provide a resource to which employees can turn to refresh their memories or simply learn a new procedure. PEO companies set procedures and safety precautions in writing, making them more concrete and giving employees a consistent reference to review.
A number of PEO companies offer a variety of educational opportunities including on-site and on-line training sessions. Some of these learning topics include:
- Interview and termination techniques
- Safety training
- OSHA training
- Performance management training
You'll gain access to HR Professionals for questions regarding compliance and employment law reducing your risk, while increasing your business knowledge.
Consider the value of the employee benefits Professional Employer Organizations include in their pricing such as employee life insurance, overnight delivery, Visa pay-cards and remote printing. More “extras", like workers' compensation safety incentive rebates, employee discount cards from major retailers, and employment practice liability insurance (EPLI) can add thousands of dollars in value to their services.
PEO Guidance from ELQ
These are just five examples of differences between Professional Employer Organizations. Just as your business is unique to any other, so are PEO providers. You can maximize their value by utilizing everything they have to offer. Give us a call and let's talk about what's important to you. The right PEO can provide an immediate impact for your business in cash flow, time and cost savings, while reducing your risk.
Call us today or fill out our online quote request form, we're here to help!