Because of the constant growing of government regulations, the high and rising cost of benefits and the ever-increasing liability of being an employer, thousands of companies are making the decision to outsource many of their organizational functions and are joining forces with Professional Employer Organizations (PEO's), originally known as employee leasing companies. In this arrangement, a business actually outsources most of the administrative responsibility of being an employer and enters into a co-employment relationship with the PEO. In effect, they retain operational management of their company, but relieve themselves of most of the significant employer liabilities and unproductive and time consuming headaches. The client company retains control, but now has the tools and support of a Fortune 500 caliber human resources (HR) department. PEOs specialize in, and actually assume the responsibilities and liability of, human resource management for hundreds of companies. That includes government and regulatory compliance, workers' compensation, group health insurance, 401(k) and other tax advantage benefit plans, and a complete payroll service. (Online services are available) The large group economies-of-scale make these and other benefits and expertise affordable to any size business; plus our service allows our client companies to refocus their current resources on their core business - the part that makes them money. It's a win-win for the client companies and the employees. Continuity of benefits and resources required by today’s workforce, as well as the cost of in-house administration, has employers turning to more efficient service providers. It is extremely unusual to find an organization administering their own retirement plan, and payroll is now commonly done by payroll services. Shopping for quality affordable employee benefits continues to involve working through all of the various agent’s proposals and options. Every time Congress meets, they seem to add to the required paper trail. Basically, a PEO allows you to outsource service like these to a single provider. Utilizing the service of a PEO is the ‘most efficient and cost effective human resource and benefits solution for business today.’ Click on this link to see the scope of services provided by PEO’s? |
