PEOs, or professional employer organizations, help businesses with payroll, HR, and other administrative duties. For smaller businesses, this aid can give a massive boost to their business success, especially in the early startup days. Here are some specific ways PEOs can help small businesses:
What Can a PEO Do for Small Businesses?
As outsourcing companies, PEOs can do a lot for small businesses. The two most common services a PEO offers are payroll processing and benefits. Most PEOs can process payroll along with garnishments, taxes, verifications or employment, and bonuses. Additionally, because PEOs offer benefits to many different companies, they can provide competitive benefits pricing and options to small businesses that they wouldn’t be able to access otherwise. This includes medical, dental, and vision plans; life insurance; disability; 401(k); and much more.
PEOs also offer expertise to keep you in compliance. Employment laws are complicated and small businesses can’t afford to pay penalties due to an innocent mistake. PEOs offer HR consultations, training, and support to keep your business on track. Competitive workers’ compensation plans and employee safety trainings help you keep your employee safe and your company in compliance.
How a PEO Helps Small Businesses Thrive
Running a small business is no easy task. You may feel that you spend so much time on administrative duties that there isn’t time for you to do the work you love. This is often true when you first start your business. A lot of the administrative tasks such as payroll, employee paperwork, and taxes end up on your plate. When you partner with a PEO, they take care of administrative duties so you can spend more time leading the business you love.
Choosing the Best PEO for Your Business
Each PEO may have slightly different services and benefits offerings, some of which may be better for your business. Evaluate what types of benefits, trainings, and services would be best for your company before committing to a PEO. Review the company’s website and watch available video demos to get a feel for the software used by the PEO. You may also want to take a look at online reviews or ask for references to get an idea of what actual customers are experiencing. Finding a PEO that is flexible to your needs and can work with you as you grow is the best way to be successful in a partnership with a PEO.
Helpside is a PEO made for small businesses. Our services are specifically designed to help small businesses grow and succeed. If you want to learn more about how a PEO can help your small business, reach out to us at firstname.lastname@example.org.