Small Business, Big Ideas
(And a Few Laughs Along the Way)
Your go-to blog for tips, tricks, and the occasional dad joke about running, growing, and loving your small business. Seriously helpful. Seriously fun.
Advantages of using a PEO for your business
Investments in businesses are normal. A business owner cannot deny the benefits of investments in their business. Investments most of the time are expensive and risky. This is why it is important for business owners to know which investments are truly helpful in the long run and not just in the short run.
One investment we know is advantageous to businesses both in the short run and the long run is Professional Employer Organization or PEO
Understanding Professional Employer Organizations
Understanding Professional Employer Organization
A PEO is an organization that allows businesses to outsource human resource services. These services include but are not limited to Payroll, Taxes, Benefits, and Compensation. Taking away time-consuming and number-intensive tasks like these from the company’s employees will let them shift their focus and energy towards improving the progress of the company.
Should you be in a Professional Employer Organization?
Did you get a bad renewal this year on your health insurance? Does your workers’ compensation keep increasing? If answered yes to either of these questions, then you should probably look at a Professional Employer Organization. Not sure what a Professional Employer Organization is, that’s ok. By the end of this exactly what a PEO is.
Are you getting hosed by your Professional Employer Organization?
If you are in a Professional Employer Organization, then you already know the upside. What you might not know is if you are getting the best price for your PEO. If you don’t know if you are, then you should read on.
Most people join a Professional Employer Organization and don’t ever think about the fees and costs associated with their PEO billing. Better yet a lot of times, people join a PEO and have no idea what their actual PEO fees are. And in many cases no idea how to figure out their fees.
(HRO) Human Resource Outsourcing: Lifting Small Business Burdens
Human Resource Outsourcing (HRO) takes all or some human resources tasks and hires a third-party source to administer it. An HRO might be contracted to conduct payroll and the subsequent taxes associated with it. It could also handle all employee benefits. Unlike a Professional Employer Organization (PEO), the HRO is usually an a la carte service provider, handling what a company needs instead of bundling all services.
What are the five kinds of insurance plans and what's the difference between them?
Let’s assume for a second that you're not an expert at health insurance. You probably wouldn't be able to explain the difference between a HMO, an EPO, a POS, a PPO, and an HDHP.
If this doesn't sound familiar, it's because you had better things to do since the last time you worried about insurance. But now you're deciding which insurance plans you want to offer your employees and acronyms are popping up everywhere. This handy reference guide will help make sense of the insurance literature you've been going through.