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Professionalemployerorganizations (PEOs) offer a cost-effective solution to this problem. Besides the cost savings, working with a PEO can yield many benefits to employers. NAPEO (National Association of ProfessionalEmployerOrganizations) economists Laurie Bassi and Dan McMurrer conducted research into PEOs.
With approximately 155 million Americans relying on employer-sponsored health insurance, this window is crucial because the choices made during open enrollment will impact employees’ coverage and financial well-being for the upcoming year. Some organizations may need to create or revisit their plan but are stretched thin.
As a broker-friendly professionalemployerorganization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments.
Quick look: As 2024 comes to a close, it’s time for HR professionals to review, reflect, and fine-tune their processes to ensure compliance, enhance employee satisfaction, and streamline operations. Two critical tasks: ✓ Review legal and regulatory changes: Ensure compliance with any new labor laws or industry-specific requirements.
Here, explore what you need to know about hiring for seasonal positions, from compliance considerations to incentivizing staff to come back next season, and how a PEO can help you achieve year-round success. Juggling recruiting, compliance, employee benefits, and more while simultaneously trying to grow the company can be exhausting.
Ensure HR processes are scalable Your HR processes – the means and practices by which your company manages people and their performance – need to support your organization, whether you have 10 employees or hundreds of employees. In compliance with laws in all areas of operations. Supportive of organizational goals.
From recruiting employees and handling payroll to ensuring compliance with labor laws, HR tasks require constant attention and expertise. Larger enterprises also turn to HRO providers to improve efficiency, ensure compliance, and manage workforce-related challenges. Expertise and Compliance: Employment laws are constantly changing.
To do this, brokers are in a unique position to make an impact by connecting their clients with a professionalemployerorganization (PEO) solution. Handles risk and compliance management Employment laws and workforce trends are constantly in flux.
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.
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.
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.
Quick look: No business operates without risk, and managing workplace compliance, health, and safety can be overwhelming. While an entrepreneurial mindset is crucial to getting a business off the ground, many newly minted employers simply don’t have the knowledge (or the time) keep up with compliance, which can result in major violations.
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).
Diversity, equity, and inclusion (DEI) consultants : Firms or individual professionals who help businesses develop inclusive, diverse workforce policies and programs. Administrative services organization (ASO): ASOs provide similar HR management services to PEOs but without establishing a co-employment relationship.
Are rumors about companies that have had professionalemployerorganization problems keeping you from hiring a PEO? And it’s natural to have a few concerns at first, especially if co-employment is a new concept to you. Granted, it’s certainly wise to do research about HR outsourcing.
They assist with offer negotiations, ensuring that compensation packages align with industry benchmarks and meet both employer and candidate expectations. Additionally, they oversee pre-employment checks, background verification, and compliance requirements to minimize hiring risks.
What is co-employment? The National Association of ProfessionalEmployerOrganizations (NAPEO) defines co-employment as “the contractual allocation and sharing of certain employer responsibilities between the PEO and the client.” Comprehensive risk and compliance services. Payroll and tax services.
This is where a professionalemployerorganization (PEO) can provide valuable assistance. Performance evaluations PEOs can assist in planning and implementing performance reviews and assessments by establishing metrics, conducting evaluations, and providing guidance on feedback and coaching techniques.
Compliance With Labor Laws The first benefit of hiring an EoR is complying with existing labor laws. Hence, they can help you reduce the cost and complications of international hiring. Alternatives For Employer Of Record There are various alternatives to EoR.
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.
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. Examples include payroll, benefits administration, and managing state-level compliance (e.g., One-stop shop.
But for exempt workers, employers must be more careful with partial work time reductions. To maintain compliance with the Fair Labor Standards Act (FLSA) , exempt workers must be paid their full salary for any week in which they perform work. AS1] COBRA is a federal law and only applies to employers with 20 or more employees.
And while this news may alarm clients who provide or hope to offer telehealth solutions, brokers can help ease the burden by leveraging a professionalemployerorganization (PEO) partnership that provides access to reputable providers. Unfortunately, the number of fraudulent telehealth claims also rose steadily.
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. Your organization may not have extra time to devote to the intricacies of HR trends and employercompliance concerns, but a PEO does.
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.
Managing a workforce across multiple states brings significant compliance challenges , especially when each state has its own set of employment laws. From leave policies to rest breaks , employers need to be aware of and adapt to varying regulations.
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. They both offer a range of services, including payroll, taxes, benefits, compliance, and risk management.
Our second most-read blog in 2024 discusses other perks of HR outsourcing, including: The ability to leverage comprehensive HR expertise Assistance with compliance and minimized risk Access to the latest HR technology Tools to better hire and retain talent And more Read more > 3.
Their responsibilities include: Conducting salary research and benchmarking Monitoring inflation trends Adjusting compensation rates according to roles and skills Ensuring the business’s compliance with all state and federal compensation laws, including minimum wage, equal pay, and overtime 6.
For many employers and their employees, the time for open enrollment comes and goes in the blink of an eye. Navigating compliance and current benefit trends Laws and regulations are constantly changing, and employers are responsible for maintaining compliance at all times.
Brokers who partner with a professionalemployerorganization (PEO) provide their small- and medium-sized business (SMB) clients access to premium benefits at approachable costs, which are typically reserved for larger companies. Often, updates are rolled out over a period of time.
It’s the structure of your organization, the engine that keeps everything running smoothly every day. This includes policies, procedures, programs, systems and compliance. Ultimately, this influences the unity, cohesion and culture of the organization. Communicate to stakeholders what you are doing to maintain compliance.
Failure to adhere to the FMLA may result in investigations, lawsuits, and fines, which is why some employers subcontract their risk and compliance management to an HR outsourcing company. Managing this can be challenging for any organization, especially small businesses.
Learning and development (L&D) programs have traditionally been associated with larger organizations, but these enrichment initiatives are now expected at both big and small employers. Required courses, like compliance training. What does L&D entail? Career development. Leadership development programs. Skills training.
An Administrative Services Organization (ASO) is a specialized third-party provider that helps businesses manage essential HR functions without assuming any employer responsibilities. Core Services Payroll processing, compliance management, benefits administration, HR support, and risk management. Key Functions of an ASO 1.
Other companies offload their payroll responsibilities to a payroll service provider or a professionalemployerorganization (PEO). But with both business types capable of processing payroll, what makes them different, and how do you know which is the best fit for your organization? Which one is right for you?
The need has extended to finding a fully managed HR solution, complete with risk and compliance services , as well as recruiting and retention assistance, to help clients reach their growth goals. Therefore, it’s no surprise the exploration of working with a professionalemployerorganization (PEO) has spiked in popularity.
This is where partnering with a ProfessionalEmployerOrganization (PEO) can make all the difference. Simplifying ComplianceEmployment laws are constantly evolving, with updates to wage regulations, tax codes, and workplace safety standards happening frequently. Minimized risk of costly compliance errors.
Navigating HR , compliance , and employee benefits can be challenging for small businesses. 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.
In these situations, the law requires employers to engage in discussions with employees about “reasonable accommodation,” so it is important to provide training to manages so they know what is required. What is ADA compliance training? How is ADA compliance training done? appeared first on Helpside.
ExtensisHR, a certified and experienced professionalemployerorganization (PEO) , gives SMBs the guidance and tools to deliver the right continuing education to their workforce. That’s why many tech SMBs implement L&D plans aligned with their team’s career goals.
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.
Build the right team Most small employers don’t have an in-house Chief Information Officer (CIO) or team to manage cybersecurity or other compliance-related tasks. Employers should leverage outside help throughout the process, including cybersecurity consultants, legal counsel, and more.
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