Dinsmore Steele Business Blog
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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.
How a Professional Employer Organization helps you with Workers’ Compensation
Most people know that a Professional Employer Organization (PEO) can help you streamline your payroll, give you access to affordable benefits from national carriers, as well as access to expert HR guidance. But what a lot of people do not know is that a PEO can also help you with your Workers’ Compensation insurance.
Even if you are a white-collar company a PEO can make your Workers’ Compensation a breeze.
5 Misconceptions of Professional Employer Organizations
Over the last decade, we have just about heard every question known to man about Professional Employer Organizations. So we thought we would put together the top 5 that we hear the most often. Here they are.
What is a PEO?
A Professional Employer Organization (PEO) is a company that serves as a human resources partner for businesses that want to outsource the tasks and reduce costs. To legally administer many of the roles, the PEO becomes a joint-employer through employee leasing, meaning that they are the employer of record. This gives the PEO both the ability to manage employees and shared liability
Why use a PEO Broker?
First off, if you're scratching your head at the word "PEO," head over here first. This article is a must-read too, but it'll more helpful once you've learned about how a PEO can help boost your business' profitability while saving you weeks of time each year.
Are you in a PEO now? Were you once in a PEO? Read the above article or already know about PEOs? Then you know the advantages that they can bring. But here's why you should never go PEO-hunting without a broker again.
Are you getting the best deal on your PEO?
If you're currently in a Professional Employer Organization (PEO), you've probably wondered if you should have played the field a little more. PEOs are guilty of relying on the complexity of their set-up to obscure costs and keep you from being as well-informed a customer as you might for other services like an accountant or a software vendor.
But "difficult to tell" doesn't mean unknowable. Read on to find out how to do your due diligence with any PEO.