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According to research by Secure Data Recovery, 88% of employees have worked at a small business without a dedicated HR team. Professionalemployerorganizations (PEOs) offer a cost-effective solution to this problem. Besides the cost savings, working with a PEO can yield many benefits to employers.
A ProfessionalEmployerOrganization , or PEO, allows businesses to outsource their administrative needs to a third party that specializes in these duties. Some business owners balk at the idea of hiring a ProfessionalEmployerOrganization because they worry that the PEO will gain control of their company and employees.
As a broker-friendly professionalemployerorganization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments. For example, a client using a legacy applicant tracking system (ATS) may use parts of that program but find the resume-screening process tedious.
Some organizations may need to create or revisit their plan but are stretched thin. In this case, offloading the project to the benefits experts at a professionalemployerorganization (PEO) may be worth it. Need a helping hand in optimizing your organization’s open enrollment season?
An uptick in sales at a specialty retail store before the winter holidays. A substantial need for an increased headcount at an accounting firm during tax season. A positive reputation : When employees and customers are treated well, it strengthens the business’s reputation, both externally and as an employer.
Payroll Closing your business’s books at the end of the year is imperative. Confirming accurate payroll data and completing necessary forms ensures compliance with legal requirements, maintains financial precision, and cultivates trust between your organization and its employees.
Among these changes that businesses undoubtedly will encounter at some point is the need to efficiently and quickly scale up. There must be a clear link between where your organization wants to go and which actions HR is focusing on, prioritizing and taking to make it happen. Change is an inevitable part of doing business.
A ProfessionalEmployerOrganization (PEO) is a firm that provides comprehensive HR solutions to businesses by handling payroll, employee benefits, regulatory compliance, tax administration, and other workforce management functions. Additionally, one-third of small businesses spend over six hours monthly on payroll alone.
To do this, brokers are in a unique position to make an impact by connecting their clients with a professionalemployerorganization (PEO) solution. We recommend consulting with a certified tax professional or legal advisor to understand how these considerations apply to your specific situation.
How HRO Works At its core, HRO is about delegation , but the level of outsourcing depends on a companys specific needs. HRO vs. Other HR Solutions Companies exploring HR solutions often compare HRO with other approaches such as ProfessionalEmployerOrganizations (PEOs) , HR consulting, and HR software solutions.
Tandem HR announced the acquisition of The QTI Group’s ProfessionalEmployerOrganization (PEO) division on August 31, 2021. The QTI Group is a privately owned human resources and staffing organization providing staffing, recruiting, compensation consulting, and outsourced HR to businesses headquartered in Wisconsin since 1957.
For healthcare professionals, the demands of managing a practice can sometimes overshadow their primary mission: delivering high-quality healthcare. A professionalemployerorganization (PEO) can step in as a powerful ally, simplifying operations, reducing costs, and allowing medical practices to focus on what truly matters most.
This confusion may stem from the relationship between a PEO and its client, called co-employment. And while many think employee leasing and co-employment are the same, they are very different. Once the project, timeframe, or contract is complete, the workers return to the staffing company, which is their actual employer.
Diversity, equity, and inclusion (DEI) consultants : Firms or individual professionals who help businesses develop inclusive, diverse workforce policies and programs. According to the National Association of ProfessionalEmployerOrganizations (NAPEO) : 487 PEOs exist in the U.S. And the PEO industry is booming.
ExtensisHRs most-read broker blogs this year provided a wealth of actionable insights, from tips on ensuring your clients employees make the most of their flexible spending accounts (FSAs) to the importance of choosing a professionalemployerorganization (PEO) partner with a history of proven success. years Payroll 11.3
Fortunately, one of the many built-in advantages brokers have when working with a professionalemployerorganization (PEO) is dedicated access to a team of HR experts who provide flexible solutions. Contact the experts at ExtensisHR today to start the conversation.
However, like any other organization, they also face challenges in managing their HR functions. That’s where professionalemployerorganizations (PEOs) come in handy! That’s why more non-profit organizations are finding solace by partnering with a professionalemployerorganization (PEO).
The good news is that you can outsource your HR functions from credible ProfessionalEmployerOrganizations (PEO). We include Resourcing Edge in our list of professionalemployerorganizations because of its ability to provide professional services to businesses since 2003. Resourcing Edge.
For over two decades, Britta Larsen has only worked at companies with less than 100 employees. I have always worked, for 25 years, at founder-led companies…with founders who are still involved,” said Larsen, who leads HR as the VP of people operations and culture at Bespoke Post, a subscription box service founded in 2011. “I
Let’s explore all the services that a full-service PEO partner can perform for your organization and why your business may want to consider this option for the most comprehensive, cost-efficient and time-efficient HR outsourcing. Together, this equates to greater peace of mind that present and future HR needs are met.
Employee Engagement Applications HR professionals are shifting their focus on utilizing employee engagement applications to create a positive environment at work aimed at increasing the overall productivity of the employees and reducing the rate of attrition.
Every year, SHRM takes an in-depth look at various benefit categories and trends for brokers, HR professionals, and business leaders to have on their radar. Being at the forefront of employee benefit expectations is a significant part of what keeps companies competitive. So, what should SMBs keep in mind for the coming months?
Here’s a hint: It starts at the top. employees are engaged (passionate and committed) at work. Employee engagement starts at the top How do your managers stack up? Consider the HR outsourcing services offered by a professionalemployerorganization (PEO). Probably not. Is there room for improvement?
One of the biggest challenges is managing the employer-employee relationship, and this is where Employer of Record (EOR) and ProfessionalEmployerOrganization (PEO) services come in. A PEO can provide HR services at a lower cost because they have economies of scale.
Artificial intelligence (AI)-powered recruiting tools , which small businesses may access via a professionalemployerorganization (PEO) like ExtensisHR, can aid in this search by eliminating subconscious biases.
Remote announced a Series C fundraising round led by SoftBank Vision Fund 2 in 2022, which resulted in $300 million worth of investments at a $3 billion valuation. But since most of the company’s business comes from the US, Remote decided to focus on developing additional products catered to employers hiring US-based employees.
This is where a professionalemployerorganization (PEO) can provide valuable assistance. To learn more about how a PEO can help your small business hone in on these strategies, contact the experts at ExtensisHR today. The post Talent Management vs. Performance Management: What’s the Difference?
The speed at which the business landscape is evolving means employers must quickly adapt to remain competitive; gone are the days of researching emerging trends and bookmarking them for later. Trend 2: Cultivating organizational culture Ultimately, a business’s culture is what sets it apart from other comparable organizations.
Any organization using paper timesheets or spreadsheets is at a much greater risk for fines due to inaccurate calculations and filings. Learn more by clicking here or reaching out to us directly at partnerrecruiting@swipeclock.com. Alight, Inc.
Therefore, it’s no surprise the exploration of working with a professionalemployerorganization (PEO) has spiked in popularity. If a PEO is not investing in modern tools and technology to complement its service model, it can make managing compliance difficult, putting SMBs at risk.
Hiring an HR professional is typically at the bottom of a start-up's to-do list despite the very real risks forgoing this "to-do" poses. The overwhelming logistics of employee relations often drive start-ups to outsource HR functions to a professionalemployerorganization (PEO).
Yet, it’s not all doom and gloom, as brokers and their clients have access to professionalemployerorganizations (PEOs) to help them reinvigorate employee participation and provide the support necessary to help them do their best work. Inflation and debt are two main culprits contributing to employee stress and dissatisfaction.
Insurance brokers and professionalemployerorganizations (PEOs) are supposed to be competitors, right? When a broker refers a client to a PEO, under the co-employment model the client company is no longer represented by the broker for any benefits the PEO will be offering. Let’s explore how. Needs, priorities and goals.
At Helpside, we emphasize the word “ partner ” to describe the relationship between your business and a PEO. By partnering with a PEO, your company will save money in many ways. Navigating the world of ProfessionalEmployerOrganizations can be challenging with so many myths and misconceptions.
As brokers seek to provide the best possible solutions for their clients, a professionalemployerorganization (PEO) helps to alleviate the stress associated with open enrollment, allowing employees to make less rushed and more informed decisions. However, open enrollment doesn’t come without its challenges.
Well-being Well-being rewards are designed to foster motivated and fulfilled workers to feel a sense of belonging at work. Benchmarking your organization’s benefits, programs, and policies against industry standards and best practices is also helpful during the design phase. flexible work schedules, hybrid or remote work options, etc.)
Below, explore what National Wellness Month is all about, the significance of promoting employee health and wellness, and discover how partnering with a professionalemployerorganization (PEO) can help your business achieve these goals. What is National Wellness Month? According to the U.S.
Let’s explore the benefits of 1:1s, tips for managers to achieve collaborative success, and how partnering with a professionalemployerorganization (PEO) can help organizations with lean human resource (HR) teams access tools and resources to facilitate effective 1:1 meetings. What is a one-on-one meeting?
Recruitment costs Many employees now work remotely, or at least on a hybrid schedule. All managers had to do was walk down the hall to check whether their employees were at their desks and engaged in their work. Target once per year or, at maximum, every six months to avoid survey fatigue. Times have changed.
To create more appealing benefit packages to serve today’s tight labor market, employers and brokers must anticipate employee expectations and workplace trends to customize benefit plans accordingly. Furthermore, 56% of employees say inflation will delay or affect their ability to obtain healthcare within the coming year.
This is where partnering with a ProfessionalEmployerOrganization (PEO) can make all the difference. Simplifying Compliance Employment laws are constantly evolving, with updates to wage regulations, tax codes, and workplace safety standards happening frequently. Access to group benefits at lower rates.
Part-time workers may qualify for employer retirement plans more quickly. Starting in 2025, businesses that offer 401(k) and 403(b) plans must automatically enroll eligible employees and provide a contribution rate of at least 3%. Click here to view the entire SECURE 2.0
Below, discover how a well-structured L&D program improves professional growth and team efficiency. Fill tech talent gaps Tech professionals are in high demand across the nation. One industry report expects these jobs to grow at twice the rate of the overall workforce in the next decade.
Support of company growth Perhaps the most important item on this list, HR professionals can be strong business partners who support company growth and workforce planning. outsourcing some of their daily administrative burden to a professionalemployerorganization (PEO) could provide much-needed relief.
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