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These workers help businesses meet increased demand during their peak periods, alleviate workforce burnout, and potentially reduce long-term recruitingcosts. To help them on that journey, we’re here to explain the ins and outs of seasonal roles and six tips to hire this talent efficiently. What are seasonal employees?
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. Professional employer organizations (PEOs) offer a cost-effective solution to this problem.
Employeebenefits and compensation Managing employeebenefits and compensation involves multiple processes to ensure your organization stays compliant, controls costs effectively, and promotes the health and well-being of your workforce. File FICA/FUTA: If applicable, submit forms by the IRS deadlines.
A professional employer organization (PEO) can step in as a powerful ally, simplifying operations, reducing costs, and allowing medical practices to focus on what truly matters most. This is where a professional employer organization (PEO) can step in to provide valuable assistance. increase in labor expenses.
From recruitingemployees and handling payroll to ensuring compliance with labor laws, HR tasks require constant attention and expertise. Some businesses choose to outsource their entire HR department, while others only seek external help for certain tasks, such as payroll processing or recruitment.
Quick look: A PEO partnership can help small businesses grow, stay compliant, offer competitive benefits, and retain valuable employees. However, some organizations shy away from a PEO out of fear that a co-employment relationship is the same as employee leasing. What is employee leasing?
Revisiting an organization’s employeebenefits 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.” However, it’s not only health coverage that employees value most.
Potential cost savings are another benefit. According to the National Association of Professional Employer Organizations (NAPEO), 180,000 small and midsize businesses use professional employer organizations (PEOs).¹ Larger companies are also increasingly turning to PEOs. What is a certified PEO?
Staffing companies : Agencies that match employers and staff-level employees. Executive recruiting firms : Organizations that specialize in helping businesses fill executive, upper management, and other senior-level positions. A company’s employees remain on its FEIN number and the employer assumes all associated risk.
Thankfully, market trends are pointing toward a continued need for benefits and PEO brokers, and the right HR outsourcing partner can help them continue to meet those demands. Additionally, HR Dive’s latest Identity of HR report discovered over half (57%) of surveyed businesses utilize benefits outsourcing/consultants.
Appealing to candidates involves creating a compelling employer brand , implementing effective recruitment strategies, and selecting individuals who align with the organization’s culture and goals. By nurturing employees, businesses can foster a culture of innovation, engagement, and long-term loyalty.
medical cost trend in 2022. PricewaterhouseCoopers (PwC) recently released a report projecting a slightly lower medical cost trend than 2021, as well as a prediction for a return to spending costs pre-pandemic. Persistence of COVID-19 costs. In the short term, these investments will likely drive higher medical costs.
Here’s how brokers who partner with a PEO can help clients avoid dishonest providers and offer their employees reputable virtual solutions. Virtually accessing care can help patients experience lower costs, more convenient appointments, and less exposure to infectious illnesses. The rise of telehealth fraud.
A professional employer organization (PEO) provides a range of services to companies that want to outsource human resources administrative tasks. Many PEOs employ certified employeebenefits specialists and certified payroll professionals. PEOs and their clients are considered co-employers.
Designed to highlight critical industry developments, ExtensisHR’s 2024 Trends Report features insight from our professional employer organization (PEO) subject matter experts. Take, for instance, the role AI plays in recruiting. These technologies can also help HR functions become more efficient, equitable, and data-driven.
It was a time of uncertainty and back-and-forth changes, but what evolved was an insightful perspective of what employeesbenefited from most which ultimately set the tone for expectations today. Working with a PEO automatically expands a brokers service offerings by providing clients with tailored HR and benefit solutions.
Here, we explore the importance of payroll, how PEO payroll services impact SMBs across the country, and all the other ways PEOs help businesses, too. Other companies offload their payroll responsibilities to a payroll service provider or a professional employer organization (PEO). Some PEOs, like ExtensisHR, are IRS-Certified.
At some companies, an employee may need to be scheduled for 40 hours per week to be considered full-time, while at another company, an employee may need to work at least 35 hours per week. Generally, full-time employees are employees that work enough hours to qualify for all benefits. Pros of Full-Time Employees
Like almost every other industry, professional employer organizations (PEOs) have been forced by the global pandemic to ask themselves this question. As we look toward 2021 and beyond, PEOs, including Genesis HR Solutions , are uniquely positioned to provide opportunities and positivity to our clients. PEO History & Highlights.
ExtensisHR’s PEO Premier® delivers HR services with an edge, complete with a personalized approach, saving time, costs, and sanity. As a people-first PEO, ExtensisHR understands the importance of delivering a comprehensive solution which serves as an extension of an SMB’s team and is tailored to meet specific HR demands.
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
In a recent survey, 61% of respondents said they outsourced payroll and 56% said they outsourced benefits.¹ Many small and midsize businesses may want to avoid incurring the costs of running a full Human Resources department. What is a PEO? Under this setup, the employees are paid under the PEO’s EIN.
Total rewards include compensation, benefits, well-being initiatives, and recognition, and help companies increase productivity, retention rates, and talent acquisition success. Here’s how to design an impactful total rewards plan, and how a PEO can help time-strapped SMBs reap the benefits of a well-appointed program.
A Professional Employer Organization (PEO) allows its clients to outsource many of their human resource functions, share employment liability, and, oftentimes, gain economies of scale to bring an improved benefits package to their employees. How can PEO services help my company? PEO Health Insurance. PEOBenefits.
Insurance brokers and professional employer organizations (PEOs) are supposed to be competitors, right? Actually, brokers and PEOs can form mutually advantageous partnerships that result in better service for their clients. Furthermore, brokers themselves can benefit significantly from working with a PEO.
Professional Employer Organizations (PEOs) help businesses manage essential HR tasks like payroll, employeebenefits, and compliance. By partnering with a PEO, companies can focus on growth while outsourcing time-consuming administrative work.
Employeebenefit administration and analysis In today’s hyper-competitive market, employees consider their benefits a critical component of their total compensation. Recruiting and onboarding As the war for talent rages on, a robust recruiting and onboarding strategy has never been more important.
Thankfully, market trends are pointing toward a continued need for benefits and PEO brokers, and the right HR outsourcing partner can help them continue to meet those demands. Talent acquisition Hiring remains a top priority for employers.
A Professional Employer Organization (PEO) is a firm that provides comprehensive HR solutions to businesses by handling payroll, employeebenefits, regulatory compliance, tax administration, and other workforce management functions. You may read more about PEO statistics here. How Does A PEO Work?
10 Benefits of Outsourcing HR Most business leaders understand that outsourcing some of their HR tasks can save time and potentially help cut costs. That’s when a partnership with a professional employer organization (PEO) may be helpful. Explore ExtensisHRs PEO solution , or contact us today to learn more.
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. A PEO helps you work smarter, not harder , which means more money in your pocket. Retention is key for cost savings. How does HR help drive profit ?
Many organizations hire a payroll service to handle this responsibility. They can choose either a standard payroll service provider (PSP) or a professional employer organization (PEO). Here we’ll compare and contrast PEO vs. payroll services alone. What is PEO? What is a payroll service provider?
This collective call for support gives brokers and PEOs an opportunity to work together to help clients ease their HR burden and prolong business growth. Managing employeebenefits has become more complex over the years, which is why more companies are choosing to outsource these functions.
The history of Movember The Movember movement began in 2003 , when two Australian friends, Travis Garrone and Luke Slattery, recruited 30 men to grow mustaches to raise awareness of men’s health and prostate cancer. For brokers, this begins and ends with employeebenefits.
As any small business owner knows, there are approximately a million things that need your attention every day and a PEO can help. That’s thanks in large part to professional employer organizations or PEOs, for short. Here’s a crash course in all things PEO and how they can benefit your small (or even medium-sized!)
If you want your business to attract top talent in today’s job market and retain employees for the long term, one of the most powerful tools at your company’s disposal is competitive employeebenefits. Let’s explore what employees expect so that you can stand out from your industry peers and recruit and keep the best.
The Employer of Record service opens doors to hire in countries you’ve never operated in or where you don’t own an entity. Whether you want to hire contractors and employees worldwide without opening legal entities, streamline HR for your global team, or consolidate payroll for everyone —Deel does it all (while keeping you compliant).
Global employee engagement and overall employee well-being have hit record lows according to a recent Gallup report. Employee engagement is measured by the involvement and enthusiasm employees have for their workplace and in their work.
A strategic way brokers can encourage business growth is by connecting clients with a professional employer organization (PEO) to save costs, stay competitive, and keep the focus on core operational activities. A PEO partner serves as a complement to guide SMB leaders through their challenges and questions.
Bringing in the right talent for the organization > The workforce comprises valuable employees who are aligned with the organization’s mission, vision, values and goals, and are a good cultural fit. Employees are capable of meeting the needs of the business now and in the future, helping to drive growth and profitability.
This is where partnering with a Professional Employer Organization (PEO) can make all the difference. Here are some reasons why working with a PEO is a strategic move for businesses in 2025. A PEO helps you stay compliant by: Providing expert guidance on state and federal employment laws.
At the surface level, it seems the simplest way is to provide a few benefit options and require employees to choose from whats available. However, this long-held strategy is unsustainable when it comes to employeerecruitment and retention. Rather, relevancy has become a top priority when creating health plans.
Quick look: Employee expectations for well-being benefits top the list of priorities among business leaders since a lack of these offerings coincides with greater job dissatisfaction. As a result, a focus on benefit relevancy is as important , if not more so, than the number of benefits available.
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.
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