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Handling employeebenefits and other HR services in-house is extremely difficult for many small businesses. 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.
These workers help businesses meet increased demand during their peak periods, alleviate workforce burnout, and potentially reduce long-term recruiting costs. What are seasonal employees? Seasonal employees are hired temporarily to meet increased demand throughout the year.
Compliance and legal updates Reviewing and adjusting for evolving employment laws is one of the most important end-of-year HR responsibilities. Doing so enables organizations to safeguard against legal challenges, create a supportive work environment, and maintain operational efficiency.
As a broker-friendly professionalemployerorganization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments. To foster success in 2025, clients should confirm their benefits packages remain relevant or adjust them accordingly.
Larger enterprises also turn to HRO providers to improve efficiency, ensure compliance, and manage workforce-related challenges. This model is particularly useful for larger organizations that require a mix of strategic and administrative HR support. HRO providers offer a cost-effective alternative. What Are the Risks of HRO?
Revisiting an organization’semployeebenefits package is essential to ensure their offerings remain competitive, sparking the need for deeper, more strategic discussions. Despite best efforts, only 48% of employees understand their healthcare costs “well.”
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.
Employee leasing is a popular option for business owners who need new workers for a set time frame and don’t want to worry about the HR administrative and regulatory tasks associated with hiring contract or temporary workers. What is co-employment? Issuing Form W-2 for compensation under its Employer Identification Number.
Many organizationshire a payroll service to handle this responsibility. They can choose either a standard payroll service provider (PSP) or a professionalemployerorganization (PEO). What’s the difference between them, and how does an organization decide which is best for their specific situation?
A ProfessionalEmployerOrganization (PEO) is a firm that provides comprehensive HR solutions to businesses by handling payroll, employeebenefits, regulatory compliance, tax administration, and other workforce management functions. Essentially, the business owner or managers continue to run the company as usual.
Employeebenefits Your clients rely on you to present cost-effective benefits packages that cater to their increasingly diverse workforces —and that need will remain steadfast. Additionally, HR Dive’s latest Identity of HR report discovered over half (57%) of surveyed businesses utilize benefits outsourcing/consultants.
Are rumors about companies that have had professionalemployerorganizationproblems 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. Employees leaving because their company enters a PEO relationship is virtually unheard of.
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. By analyzing vast amounts of data, these tools (in tandem with human professionals) can identify top job candidates and reduce hiring bias.
For businesses bogged down by human resources requirements, partnering with a certified professionalemployerorganization (CPEO) is an option. Potential cost savings are another benefit. A PEO is a human resource management company staffed by professionals specializing in HR, legal, tax, and accounting.
However, when it comes to maximizing their employees’ potential, many small- and medium-sized businesses (SMBs) find themselves grappling with a common challenge: understanding the differences between talent management and performance management. This is where a professionalemployerorganization (PEO) can provide valuable assistance.
Quick look: Military spouses are, on average, highly educated, skilled, and motivated—a combination that makes 80% of HR professionals eager to hire them. Yet only 16% of HR teams have a strategy to recruit and retain military spouses, and less than half feel they understand this group’s challenges. For example, the SECURE 2.0
A total rewards program for employees includes four major components: compensation, employeebenefits, well-being, recognition, and development. Compensation Compensation is the total amount paid to an employee by their employer. That’s when a professionalemployerorganization (PEO) can help.
A professionalemployerorganization (PEO) provides a range of services to companies that want to outsource human resources administrative tasks. They are staffed by professionals specializing in human resources, taxes, compliance law, and accounting. PEOs and their clients are considered co-employers.
As a business owner, when you think about how you can make your company profitable, your first thoughts are increasing sales, cutting costs and managing unavoidable expenses. An outside vendor , such as Abel HR, a ProfessionalEmployerOrganization , can provide great insight into increasing profitability and strategic planning.
Our top-ranking blog of the year answers these questions and reviews Gen Zs preferences for: A healthy work-life balance Modern technology Diversity, equity, and inclusion (DEI) Professional development opportunities Corporate social responsibility (CSR) Mental health support Financial wellness programs Read more > 2.
Employeebenefit administration and analysis In today’s hyper-competitive market, employees consider their benefits a critical component of their total compensation. Recruiting specialists manage the entire hiring lifecycle, from screening resumes to onboarding new employees.
In today’s rapidly changing business landscape, companies are facing unprecedented challenges when it comes to managing their workforce. With the rise of the gig economy and the growing trend of remote work, employers are struggling to keep up with the changing regulations and compliance requirements.
You see, every country has its business management and employment laws that you must be familiar with to ensure a smooth transition. With the challenges many employers undergo while expanding their businesses across the globe, seeking employer of record services will be of great importance. . What is Employer of Record?
Further, they help remove the obstacles to hiringemployees from international locations, ensuring that you remain compliant with the regulations that are local to your new team members. Using HR software for global payroll can help you cut back on your HR team’s admin time, freeing them up to focus on things like employee development.
But there’s one area where you can make a huge impact—your employeebenefits package. Additionally, they assist with childcare costs when employees return to work, demonstrating a strong commitment to fostering a family-friendly environment. Take Mustard Made , for example. A survey by Frac.tl
Managing a business, whether small, medium-sized, or large, can be challenging since you require the best resources to achieve its goals. You also need dedicated and motivated employees willing to go above and beyond to successfully complete assigned tasks. Top 10 PEO Companies in 2023: 1. Resourcing Edge.
If you’re considering entering into an agreement with a professionalemployerorganization (PEO) , chances are you have questions about how PEO pricing works. What is your employer overhead? Employer overhead (in excess of compensation) typically costs between 1.25% and 1.4%
Your clients depend on you—and will continue to do so The business landscape constantly transforms, but one thing remains steady: small- and medium-sized employers will continue to turn to their brokers to help them differentiate themselves in the market. Talent acquisition Hiring remains a top priority for employers.
These work efforts thrive when employers foster a supportive and harmonious workplace. To cultivate such an environment, marketing leaders must recognize and address obstacles affecting daily employee operations. Read ahead to uncover the top HR challenges marketers face today and actionable tips to solve them.
and finding the right partner can be challenging. 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.
According to the IRS , “ A 401(k) is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts.” This makes sense when considering that recruiting and onboarding a replacement employeecosts about $4,700 per hire. What is a 401(k)?
Managing a business involves hiring and handling personnel. This becomes more challenging when your company grows as you get faced with more HR responsibilities. It’s a welcome problem that has an easy solution, that of a PEO. This article aims to give you a definition and show you how your business can benefit from one.
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. EmployeeBenefits Another significant difference between EOR and PEO is the way employeebenefits are handled.
Insurance brokers and professionalemployerorganizations (PEOs) are supposed to be competitors, right? Furthermore, brokers themselves can benefit significantly from working with a PEO. Other brokers provide a wider range of services, such as benefits administration, cost negotiation and consulting.
Additionally, employee engagement is associated with 18% higher productivity and 23% increased profitability. However, according to Gallups most recent research , just 33% of employees feel engaged, and disengaged workers cost nearly $2 trillion in lost productivity. Everyone brings something new and unique to the group.
Like almost every other industry, professionalemployerorganizations (PEOs) have been forced by the global pandemic to ask themselves this question. Get an in-depth look at professionalemployerorganizations and why you should consider partnering with one. “What is our industry’s new normal?” million to 3.7
An Administrative Services Organization (ASO) is a specialized third-party provider that helps businesses manage essential HR functions without assuming any employer responsibilities. Ideal For Small to mid-sized businesses looking for HR expertise without giving up employer authority.
And while professionalemployerorganization (PEO) services may not always be the right fit for larger businesses in white-, grey- and blue-collar industries, a human resources (HR) outsourcing solution can be. However, most HRO and PEO solutions allow employers to maintain authority over hiring and firing.
From hiring new talent to upskilling tenured staff, HR professionals wear many mission-critical hats. From reducing managers’ stress to grappling with the latest artificial intelligence (AI) tools, these are the current most common HR problems, and the solutions small business leaders can take to mitigate them.
As we step into 2025, businesses face an increasingly challenging environment of regulations, workforce dynamics, and economic challenges. This is where partnering with a ProfessionalEmployerOrganization (PEO) can make all the difference. Onboarding tools to get new hires up to speed efficiently.
It’s strategizing and preparation for the future, using people analytics to uncover insights and opportunities, helping to anticipate potential challenges ahead, and determining how your organization may need to adapt to remain competitive and avoid risks. Hiring right the first time also reduces turnover costs.
Co-employment is a contract and sharing of employer responsibilities between a PEO and its client, an employer. Co-employment is not joint employment. Co-employment sits at the heart of the relationship between professionalemployerorganizations (PEOs) and their clients.
As a small business, your human resource needs vary greatly, ranging from recruiting and onboarding to handling employeebenefits, overseeing performance management, dealing with employee conflict, and more. Unfortunately, it’s nearly impossible to hire one person who is skilled at handling everything.
ExtensisHR’s PEO Premier® delivers HR services with an edge, complete with a personalized approach, saving time, costs, and sanity. Rather than being left behind on the latest in HR compliance, trends, and operations, why not offer clients the benefit of a professionalemployerorganization (PEO) partner with its own premier solution?
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