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In this guide, we’ll explore practical strategies to streamline open enrollment and how a PEO can help busy SMBs make the most of their benefit election cycle. In this blog, we’ll dive into the key aspects of open enrollment, why it’s important to companies and their staff, and three tips to improve and simplify the experience.
Though standard health insurance plans are still a valuable part of the conversation, most people now seek a more customized approach. Recent research indicates nearly half of American workers plan to leave their jobs within the next year. Employers should consider including these areas when reviewing their healthcare plans.
If you’re investigating outsourcing your HR needs, you may have run into two different services that seem similar: administrative services organization (ASO) and professional employer organization (PEO). What is a PEO? PEO services include administration of the following: Employer compliance. Click To Tweet.
Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. As a result, most payroll companies now fall more under the administrative services organization (ASO) model of service. What is a PEO?
Many small and midsize businesses may want to avoid incurring the costs of running a full HumanResources department. Business owners planning to outsource some or all of their HR tasks will most likely look at both PEO and ASO options. What is a PEO? Other HR administration tasks as needed.
Are you uncertain about how to find the most suitable professional employer organization (PEO) for your company? After all, not all PEOs are the same. Before you choose a PEO , ask each company these eight questions. Some PEOs are strictly web-based. Other PEOs offer fully staffed offices around the country.
Are you uncertain about how to find the most suitable professional employer organization (PEO) for your company? After all, not all PEOs are the same. Before you choose a PEO , ask each company these seven questions. Other PEOs offer fully staffed offices around the country. Have you explored all your options?
Quick look: There are hundreds of PEOs across the U.S. In this blog, learn about ExtensisHR’s Employee Solution Center (ESC) and discover the benefits of having a responsive and knowledgeable support system that understands your unique needs and helps you easily navigate complex HR issues. You’re not alone.
EOR is a popular business model that helps employers manage their workforce by taking on certain responsibilities related to humanresources and payroll. An Employer of Record (EOR) is a third-party entity that assumes certain responsibilities related to humanresources and payroll for another company.
Here are our top 5 picks based on thorough tests and comparisons. Moreover, you will get actionable insights and policy change alerts on various countries for better planning. Additionally, using it gives you access to free HRresources so you can easily monitor your workforce globally.
Effective humanresources policies are probably one of the most important investments that any small business can make in its ability to continue growing! Today, we’ll be doing the same for the much broader category of humanresources consulting for small businesses. Top HR consulting firms by specialty.
One of the biggest challenges is managing the employer-employee relationship, and this is where Employer of Record (EOR) and Professional Employer Organization (PEO) services come in. These two services have gained popularity in recent years as more companies are outsourcing their humanresource management tasks.
The best employee onboarding software takes the hassle out of paperwork, streamlining the process for both new hires and HR teams to create a welcoming and efficient start. Customizable Onboarding Plans : Tailors onboarding experiences to fit individual roles, ensuring relevance and better engagement for new hires.
To honor National Employee Benefits Days 2025 theme of building future financial stability, we review how brokers and PEOs can equip clients with comprehensive benefits, intuitive platforms and tools, educational sessions, and more. As such, many employers are taking action to help their staff improve their economic standing.
Here is an example of a real-life scenario you could consider adding to your benefits package to help clarify the option to employees. Healthcare Benefits Comparison: Two Plan Options Scenario: Sarah, an employee at ABC Tech Solutions, is evaluating her health plan options.
Quick look: Partnering with a professional employer organization (PEO) has been an increasingly popular business strategy over the past decade. Reports show the number of employers using PEOs has grown nearly 40% since 2008, and Guardian’s 11 th Annual Workplace Benefits Study shares insights into why.
Quick look: There are hundreds of professional employer organizations (PEOs) in the country that aim to help small- and medium-sized businesses alleviate the burden of daily humanresource-related tasks. However, not every PEO approaches transparency and trust the same way.
What should you look for in a professional employer organization (PEO) when it comes to service? If you’ve never used a PEO before, you need to know that the level of HR support, breadth of services offered and the delivery model for those services can vary widely among what seem to be very competitive providers.
As with most achievements in life, they’re the result of careful planning and execution. A professional employer organization (PEO) can mitigate and manage your business’s HR-related risks, which can lead to a healthier, more prosperous acquisition. Let’s face it, the key to your business success is your people.
The MHPAEA proposed mental healthcare benefits to be provided on the same level as physical benefits under covered health plans. This includes reviewing the health plan’s provider network, how much is paid to out-of-network providers, and the frequency at which prior authorization is required in comparison to when they are denied.
With over 155 million Americans relying on employer-sponsored health insurance, open enrollment can be a hectic time of year for businesses that don’t have a clear plan and for employees preparing for impending plan changes. Prepping for open enrollment well before fall arrives is key to having a successful season.
When we talk to prospective clients about our PEO’s retirement plans, they’re sometimes skeptical about the value of using them, especially if they already have their own plans in place. They wonder: Is switching to a PEO’s retirement plan worth it? Using a PEOplan benefits you because: 1.
In this article, we’ll discuss the differences between a professional employer organization (PEO) vs. EOR, and why companies should consider a PEO first. EOR vs. PEO: What’s the difference? Co-employment is the contractual allocation and sharing of certain employer responsibilities between a PEO and client.
In this article, we’ll discuss the differences between a professional employer organization (PEO) vs. EOR, and why companies should consider a PEO first. EOR vs. PEO: What’s the difference? Co-employment is the contractual allocation and sharing of certain employer responsibilities between a PEO and client.
Companies Amazon and Google thrive on disrupting old delivery models, while HR tech companies are also taking a piece of the pie. Navigating health insurance administration and plan selection is tricky for most small- and medium-sized businesses (SMBs). Working with a PEO can alleviate the heavy lifting.
Quick look: Hundreds of professional employer organizations (PEOs) exist in the U.S.—but Unlike many competitors, ExtensisHR is dedicated to involving brokers every step of the way as we provide your clients with tailored, high-quality humanresources solutions. Below, explore our 8-step PEO partnership timeline.
Quick look: Hundreds of professional employer organizations (PEOs) exist in the U.S.—but Unlike many competitors, ExtensisHR is dedicated to involving brokers every step of the way as we provide your clients with tailored, high-quality humanresources solutions. Below, explore our 8-step PEO partnership timeline.
As a result, run-of-the-mill health plans aren’t enough to stay competitive in today’s candidate-driven job market, and with open enrollment only a few months away, companies need to be prepared to come up with solutions customized to fit their employees’ needs. Strengthens the competitive advantage.
If you’re considering partnering with a PEO, the question that’s inevitably on your mind is this: How much does a PEO cost? In this article, we’ll look at all the factors that contribute to PEO pricing, and compare the options you have with regard to the relative costs of outsourcing vs. doing HR work yourself.
Partnering with a professional employer organization (PEO) can help alleviate much of the stress associated with fulfilling day-to-day humanresources (HR) functions for large and small businesses alike; however, choosing a PEO that is right for your business comes with its own set of stressors. Here’s how.
Quick look: Benefit plan research and selection are only part of the role brokers play these days. Keeping pace with changes is challenging, but NAPEO research shows a partnership with a PEO can help to achieve all three. Each speaks to the advantage of brokers linking up with a PEO partner to better serve their clients.
Are you wondering whether a Professional Employer Organization (PEO) or payroll service provider is the best fit for your company’s needs? Many are adding HR services, access to benefits, and more to lure (or keep) clients. Even some insurance brokers are offering HR services! What is a professional employer organization (PEO)?
It might feel early, but it’s never too soon to get started, and brokers who work closely with PEOs show they’re ready to rise to the occasion. But as every broker knows, when it comes to making health plan decisions , it’s best to be ready for anything. And it’s not necessarily because everyone is confident in their selection.
According to the Society of HumanResource Management (SHRM) 2019 Employee Benefits Survey , 79 percent of employers reported offering an EAP.). An EAP can give your employees efficient, confidential access to tailored resources, which makes them a great way to help employees stay at work and remain productive.
Though there is an obvious focus on financial wellness , the report also reflects employee attitudes toward healthcare benefits , preferred workplace models, and plans to stay with their company.
It is recorded that more than 30,000 companies across the globe are using BambooHR globally due to its user-friendly experience and central HR solutions. This guide provides a detailed comparison of features, pricing, and key benefits to meet modern HR needs. Mobile App: You can access HR from anywhere.
These “apples-to-apples” comparisons enable SMB leaders to see if the company’s pay scale is weighted disproportionately toward (or away from) a particular group. When health plans are approaching renewal, work with your broker or professional employer organization (PEO) to select coverage with diverse in-plan physicians.
This includes how you plan to: Attract top talent Develop your workforce Train the next class of leaders Engage and motivate employees , while strengthening the relationship between them and your company Retain team members for the long term. Otherwise, people tend to get nervous about getting called in for interviews with HR representatives.
Many small businesses decide that humanresources outsourcing is a winning choice. It helps them scale, is cost-efficient, and gives many of them a compliant way to manage a vital HR function. Landing on the type of HR outsourcing that best fits your business can be challenging. What is a PEO? What is an HRO?
Here are highlights of what changes brokers should be aware of in 2024 and how a PEO partner can help ease the transition. Keeping up with compliance is a necessary part of benefit planning. This requires detailed documentation and comparative analysis by group health plans and health insurance issuers to demonstrate such parity.
There’s been a lot of discussion in the HR outsourcing world about certified professional employer organizations, or CPEOs. It is federal recognition that the PEO industry has needed since its early days more than 30 years ago. It’s not a simple process to get certified by the IRS, and not every PEO will qualify.
Should my company outsource its HR functions? Is it worth it to pay a company to do payroll, benefits, and other HR tasks for us? Can’t we just manage HR tasks with the staff we already have—or hire someone to do them internally? Why do companies outsource HR? Do any of these questions sound familiar? Here’s why.
Performance objectives allow staff to plan and organize their work to achieve the expected results. A professional employer organization (PEO) , like ExtensisHR, can help. For instance, ExtensisHR has dedicated HR Managers who help guide SMBs as they develop their performance objective plans and policies.
First things first: Every HR department should be tracking the data around departing employees, so they know what the most frequent causes of turnover are (and can take action if necessary). As an HR professional, the presence of a high involuntary turnover rate should compel you to examine the reasons behind it and address what you find.
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