Starting and growing a small business is one of the most rewarding things that you can do. But one thing that you might not have taken into consideration when beginning your company is all the administrative work that comes along with it—namely, payroll. As a result, PEO services, a top-of-the-line service that integrates payroll, HR, and employee benefits are a logical step to help streamline your processes.
There are many benefits to handing your payroll off to a PEO company like Vested HR. We explain why.
Key Takeaways:
- A PEO offers more comprehensive payroll and HR solutions than other payroll services.
- When you work with a PEO you will sign a co-employment agreement, but you still control your company. You manage the hiring, firing, and all the day-to-day business operations, but our HR professionals are here to fully support your every move.
- Working with a PEO will prevent compliance issues and minimizes errors.
What is a PEO?
A professional Employer Organization (PEO) provides a range of services for small and medium-sized businesses. For example, a PEO might manage:
- Payroll and payroll tax payments
- Manage workers’ compensation insurance
- Administer employee benefits
- Manage risk management
- Manage human resources tasks
- And more
Working with a PEO can provide companies with many benefits,
including access to payroll and HR solutions, risk mitigation,
and compliance with employment laws.
When a business contracts with a PEO for payroll services, they enter into a co-employment agreement with the PEO. The PEO then assumes all responsibility for the employer of record, which may include handling the client’s payroll administration and collecting and sharing payroll taxes.
You can rely on the PEO to ensure compliance with all related laws and regulations and to accurately process payroll.
How a PEO Can Help Support Payroll
The modern business world is a complex and ever-changing landscape. As a small business owner, it’s important to have a partner you can trust to help you navigate these waters. Payroll services are an essential part of any HR solution and can offer improved compliance, accuracy, and risk mitigation.
When it comes to managing your payroll, you need a solution that is tailored to the specific needs of your business. With the help of a payroll service, you can take the guesswork out of calculating taxes and compliance with government regulations. This will give you peace of mind knowing that your team is being paid correctly and on time.
When you hire a PEO like Vested HR to take care of your payroll,
you’ll rely on us to accurately process payroll
in compliance with all related laws and regulations.
The Benefits of Using a PEO for Payroll
Processing payroll in-house can be a huge time commitment for small business owners. But working with a PEO like Vested HR can help you save costs on payroll by:
- Preventing compliance issues
- Streamlining payroll processes
- Giving you access to better technology
- Easing administrative burden
- Minimizing errors
- Improving security
Further, a PEO can provide self-service options to employees so they can:
- Log their hours
- Submit time off requests
- Update tax information
- Print tax documents
- Access pay stubs
- Manage withholdings
- And more
With the right PEO, startups and small businesses can access these platforms and tools without having to buy or maintain them.
PEO Payroll Solutions are More Efficient
When you work with a PEO, your payroll will be handled by a team of payroll and HR experts. This means that there will be fewer errors in processing your employee payroll.
Payroll mistakes can be a huge source of stress for
business owners and employees alike.
Ultimately, PEO payroll systems boost efficiency and productivity while freeing you up to build your product or brand.
Why Outsource Your Payroll with Vested HR?
No matter how many employees you have, payroll can be a complex process. Our team at Vested HR has a team of experienced payroll professionals that can manage your payroll process seamlessly, allowing you to focus on the growth of your business.
Here’s what you can expect with our payroll outsourcing services:
- Payroll checks
- Annual W2s
- Unemployment claims
- Garnishments
- PTO and leave requests
- Settling and filing payroll taxes
- Direct deposit and iPay cards
- Certified payroll services
- And more
Further, using Vested HR for payroll helps you save money on the benefits that you offer to your employees. Since we work with several clients, you can take advantage of the buying power we have when searching for group health insurance rates, workers’ compensation insurance, retirement plans, and other benefits.
Learn More > FSAs or HSAs: What’s Best for Your Business?
Small Business Payroll Solutions
If you think working with a PEO company may be the right choice for your small business, Vested HR is the name that you can trust. As your partner, we will provide innovative payroll and HR solutions that give you greater peace of mind allowing you to focus on the growth of your company.
Ready to get started? Contact our team at Vested HR today at (844) 928-0925 or (727) 474-2114 to learn about our PEO payroll solutions.