Small businesses have a lot of tasks and responsibilities to juggle with limited resources. We’re here to help share the load, which is why we offer PEO services.
WHAT IS A PEO?
A professional employer organization (PEO) offers comprehensive HR solutions for small and mid-size businesses, providing them with more access to benefit options typically afforded to larger organizations that have the numbers and resources to negotiate better deals.
Working with a PEO provides small businesses with more access to benefit options typically afforded to larger organizations that have the numbers and resources to negotiate better deals.
PEOs also assume a limited amount of employer responsibilities for a business, like administrative tasks, employee matters, and payroll efforts.
When you join a PEO, you receive payroll processing, workers’ compensation insurance coverage, employee benefits, HR consulting, and regulatory compliance assistance.
We know, it sounds too good to be true. So what’s the catch? Let’s take a deeper look at all the aspects of joining a PEO.
HOW TO KNOW IF A PEO IS RIGHT FOR YOUR BUSINESS
How involved is a PEO with daily business decisions?
A PEO is there to help manage the tasks that keep you away from the work you need to get done. They’re not there to make any daily business decisions, and certainly not micromanage or direct you. You’re the owner, and you’re always the boss.
Let’s have a conversation about your business needs.
I see the term “Coemployement” come up, what does that mean?
The word may sound scary as a small business owner, but coemployment is just a partnership between you and your PEO to share some of the employee responsibilities we outlined above (ie., payroll, administration tasks, regulatory compliance). A big advantage here is mitigating some of the costs and liabilities of being an employer.
We should add – we are not a staffing company, and we do not view your employees as temporary. We know you don’t either! Your long-time employees and those you are looking to hire are integral to your business, and we think of them that way too.
Why not just hire someone to manage this stuff?
While hiring someone to take over these tasks could make sense if you have the budget and the extra time for training, but we don’t know a lot of small business owners with spare time or money on their hands.
Instead of blowing your budget on one specialized role, you can work with a PEO organization to solve more problems at once. We believe in offering as much flexibility as possible for your business, so you hire only the services you need, whether it’s just HR and payroll, or also marketing, accounting, and IT (or whatever combination of those that makes sense for you).
GET BACK TO BUSINESS
The bottom line is that PEOs are here to help you run your business efficiently and smoothly so that you can focus on what you’re really passionate about.
PEOs offer a shared solution to bundle your payroll, workers’ compensation insurance, and employee benefits, all for less than you spend today.
Small businesses that work with a PEO grow 7-9% faster, have employee turnover that is 10-14% lower, and are 50% less likely to go out of business.
We’re all about talent sharing at Total Solutions. We’re a team of experts assembled to fulfill your business needs however you want, wherever you want. See how much time and money you could be saving by working with us.