Every dollar and every hour count when it comes to running your company. And HR and related insurance and recruitment matters can quickly devour both. Partnering with a professional employer organization (PEO) can be the ideal solution for many a growing small to mid-sized organization in today’s unique business environment.
What’s a PEO?
In a nutshell, a PEO is a team of specialized HR experts with whom you enter into a co-employment relationship. This means your PEO assumes many HR responsibilities, yet you retain management control – and your time is freed up to focus on running your business, versus being bogged down by the minutiae of personnel-related challenges, regulations and time-consuming details.
- PEOs are staffed by highly-qualified professionals who can help you improve and economize any and all aspects of talent management. And, they provide you and your employees with access to Fortune 500 level benefits. This keeps your company competitive in the ever-ongoing talent war.
HR Services Offered by a PEO
When you work with a PEO, you have a fully-qualified HR team at your service, including hiring, training, benefits, risk management, and much more, depending on your specific needs. The services provided by your PEO may include:
- HR consultations, audits and recommendations.
- Development of job descriptions and ads.
- Employee handbooks and related material.
- Processing and management of unemployment and other insurance claims.
- Labor law compliance assistance.
- Ongoing development and refinement of policies, procedures and forms.
How a PEO Helps You Recruit the Best Talent
A primary benefit of partnering with a PEO is that it can help your business attract and retain good talent. This includes both on and offline solutions.
- Your PEO can assist with digital applications. This is the wave of the present – and the future. Digital apps are better organized and more eco-friendly, and they make it much easier for both job listing and applications to be updated whenever necessary.
- Accurate, effective job descriptions are another PEO specialty. It’s critical to make your JDs honest but enticing, detailed but concise, and uniform but unique. Creating the perfect JD can be difficult, especially if writing is not your forte. So why not leave this job up to your PEO?
Insurance Benefits of a PEO
Providing competitive, comprehensive benefit packages can be costly, complex, confusing and competitive. Your PEO can handle your insurance options and make sure you stay compliant and keep up with ever-changing requirements and regulations.
- Working with a PEO, you’ll have access to more favorable rates, which make policies more accessible and affordable. This is due to your PEO’s group purchasing power, as they pool clients together when they negotiate.
- If you need business, life, home or auto insurance, a top-notch PEO can help. This is another example of a service that may not otherwise be readily available to your company.
Looking for a Better Business Partner?
Lyons HR is an ESAC-accredited and IRS-certified PEO, a dual distinction earned by only the best in the business. In the insurance industry, we partner with Aligned Insurance Agency. To learn more about how working with us might benefit your business, read our related posts or contact us today.