How a PEO provider will work with your existing HR department.
If the last couple of years have taught us anything, it’s that human resources are an essential part of a growing business. The problem is that Human Resources departments have such a long list of responsibilities that certain bits of minutiae can fall through the cracks.
Enter, a Professional Employee Organization.
The Relationship between PEOs and Human Resources
PEOs and HR departments are able to work together so well because they understand each other. These two entities have the same goals, but they have different resources available to them. PEOs are familiar with a variety of companies in a given industry and in general.
A company’s HR department, on the other hand, will have familiarity with that particular company’s inner workings and day-to-day operations. This allows them to combine forces to form the perfect team for business growth, employee retention, risk mitigation, and more.
9 Ways a PEO Makes Human Resources More Efficient
PEO HR services can take any business to the next level. Here are some of the benefits of a PEO that will help make your Human Resource’s department more efficient:
True Resource for Employees
Since PEOs aren’t tied to a single company or entity, they have a wider range of professional experiences as they relates to employee resources. Employees will be provided with PEO HR services that they can interact with on a daily basis and even during off-hours in many situations. They’ll work with your HR department to ensure the very best result for sensitive employee issues. These include payroll services, workers’ comp, and more.
Ongoing Employee Retention
Finding great employees can be a difficult process, but retaining them can be a true challenge. A big goal of PEO HR services is to learn what each employee’s needs are and then stay hyper-focused on meeting those needs. This will include not only keeping the employees happy in the moment but also giving them the opportunity to grow with the company.
Time-Tested HR Admin Tools
A company’s existing human resources department already has access to multiple administration tools, but those tools are often geared for a specific industry. A PEO company has gained a wide swath of knowledge that has informed them of which admin tools work best. When working with a PEO, your HR department will be provided with these tools as needed.
Risk Migration and Compliance
A big part of the human resources process is to mitigate risk to the company by staying in compliance with local, state, and federal regulations and guidelines. Partnering with a PEO helps take some of this burden away from the dedicated HR department to make things a lot easier. These two entities will work together to make informed decisions that will keep your company on track and protect it from legal entanglements..
Big-Company Worker Benefits
Small and medium-sized businesses can have a difficult time providing the same benefits to employees as larger companies can. Partnering with a PEO gives your company and its HR department access to big-company worker benefits regarding health, retirement, and other employee needs. These comprehensive benefit packages will improve the employee experience and increase retention.
Florida’s Minimum Wage Increases
Florida’s minimum wage just increased to $13 per hour for most workers. This will continue for the next two years, at which point it’ll reach $15. A PEO will perform routine analyses of the HR department’s processes to find ways to cut financial burdens so as to offset the increases.
Workers’ Compensation Claims
When an employee is injured at work and needs to make a claim for those injuries, the process can be a long, arduous one. A PEO will work with the HR department on each claim, taking over most or all of the tasks involved. This allows the HR department to concentrate on other employee needs while knowing that the injured worker is in good hands.
Contact Vested HR for the Most Acclaimed PEO HR Services
Vested HR has helped many companies and their HR departments gain better control over the operation of their business, thereby improving profits and industry reputation. For questions about our PEO HR services or to schedule a free, no-obligation quote, reach out to us at (727) 474-2114 today.