How will a PEO service assist you with HR responsibilities?
As a small or mid-size business owner, do you ever feel like you’re constantly running on the HR hamster wheel? From keeping up with payroll to implementing training programs and ensuring workplace safety, HR issues generate time-consuming paperwork that may interfere with your primary goal: growing your business and advancing its profitability.
HR has become more regulated and complicated, so you need to stay on top of compliance issues to avoid the risk of penalties.
If your company can’t afford or justify a fully staffed HR department, it might be time to let a professional employer organization (PEO) handle some or all of your HR needs. PEO HR solutions will help lessen your HR team’s load, reduce time and money spent on non-profit-producing activities, maximize workforce productivity, and reduce employee turnover.
Here are the burdens PEO HR solutions can take off your shoulders:
Recruiting and Hiring
Employees are a critical part of a company’s success. That’s why business owners consider retention as an important area of focus for their business. There’s a lot of work involved in attracting and retaining top talent for your company.
The right HR outsourcing partner can provide the support you need to find, vet, and retain quality employees. This can include assistance with:
- Job descriptions for core positions
- Placement of job ads and interview schedules
- Resume screening and assistance with the interview process
- Reference checks
- Background check and drug testing
Once you’ve made the decision to hire, a PEO can provide training and handle new hire administration tasks, including processing new hire information, personnel files, I-9 employee verification, payroll setting, and benefits enrollment. A PEO can also own the work of keeping track of performance, assisting with promotions, and developing rewards programs.
Payroll management is more than just issuing checks. It involves assessing analysis reports, providing payment slips and records, and handling payroll tax, just to name a few other responsibilities. Payroll management tasks are time-consuming and can distract you and your employees from your primary, profit-producing duties.
For instance, you could find yourself spending more than six hours each week solely on tax administration. If your HR staff has to handle multiple tasks, they’re more likely to make errors that can lead to significant financial penalties.
Outsourcing your payroll requirements to a PEO enables you and your team to focus on the growth and success of your company. PEO solutions provide the tools and knowledge to manage payroll and taxes and ensure your taxes are filed in an accurate and timely manner. Basically, a PEO will handle these payroll tasks:
- Settle and file payroll taxes
- Generate payroll reports
- Payroll checks and W-2s
- Maintain paid time off accruals
- Help new employees complete employment forms
- Manage state unemployment insurance tax account (SUTA)
- Handle employer tax deposits and filings
- Employee PTO and leave requests
Human resources and labor laws have drastically changed over the last decade. This means there’s more pressure on employers to keep their companies in regulatory compliance. Unfortunately, keeping on top of the shifting rules and regulations takes significant time, research, and attention, which can be daunting to a small and busy HR team.
A certified professional employer organization will keep a close eye on the labyrinth of employment and industry regulations, so you don’t have to. When there’s a change, the PEO will work with you identify laws that apply to your company and facilitate the steps you need to take to quickly implement new modifications. A team of compliance and risk management experts will help you:
- draw up plans for implementing modifications and new laws
- remain compliant with federal, state, and local workplace requirements
- maintain accurate records
- avoid expensive lawsuits or monetary penalties
Grievances and Conflict Resolution
Despite your best effort to create a supportive and safe work environment, issues are bound to arise. From small conflicts related to personal hygiene or questionable outfit to serious offenses like sexual harassment, it’s important to resolve employee relations issues before they get out of hand.
PEOs often act as HR consultants, advising on day-to-day policies, disciplinary matters, and workplace safety. A PEIO can also facilitate investigations into discrimination claims, harassment claims, and EEOC charges. Your PEO can mediate conflicts and facilitate communication by:
- Providing compliance support
- Creating policy handbooks and resources
- Allowing employees to have their concerns heard
- Assessing and mitigating risks that could cause unsafe working conditions
- Addressing concerns about EEO policies
- Providing coaching and counseling for employees
- Ensuring compliance with state and federal laws
Your benefits package is a major factor that potential employees will consider before accepting a job offer. In fact, nearly 80% of employees would prefer additional benefits over a pay increase or promotion. Generally, a good benefits package plays a key part in attracting and maintaining high-quality talent.
Outsourcing benefits administration to a PEO gives you access to better employee benefits products than you would if you were handling the process on your own. Not only will this please your workers, but it will also save you and your HR team from finding the right plan for your employees, addressing compliance issues, or administering the plan.
A PEO can handle the administration of employee benefits, including:
- Health, dental, and vision insurance
- 401(k) plans
- Workplace wellness programs
- Supplemental insurance plans
- Retirement plans
- Accident and disability
A PEO can help you identify and build a competitive benefits package for your employees.
The Best-in-Class PEO HR Solutions in Florida is at Vested HR
With human resources outsourcing from Vested HR, you tap into comprehensive PEO HR solutions, integrated HR technology, tailored support, and top-tier client service. We can help you take care of your team, so you can focus on growing your business and reaching new heights. Contact us today to talk to one of our HR professionals about our HR solutions and how we can help sharpen your competitive advantage.