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Professional Employer Organization (PEO): Right for Your Business?

Business Management Daily

According to research by Secure Data Recovery, 88% of employees have worked at a small business without a dedicated HR team. Their study also found that not having an HR department made the workplace feel toxic, so it’s important to have HR functions in place. What is a professional employer organization (PEO)?

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Top HR Challenges Found in HR Dive’s 2022 Identity of HR Report

Extensis

The survey describes how businesses are facing shrinking HR departments, prompting the need for outsourcing vendors to help manage essential HR functions. Data shows that smaller HR teams were more likely to outsource their HR functions. On the other hand, many workers are retiring from their careers.

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Report: HR Trends 2024 – Navigating the Future of Work

Extensis

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. Many seasoned leaders are retiring, and their successors may benefit from training to help them become even more impactful in their new roles.

HR Trends 102
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Future-ready HR: The versatility of full-service PEO partnerships

Insperity

You have many options for outsourcing your company’s human resources (HR) function. 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.

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Certified PEO

Zenefits

For businesses bogged down by human resources requirements, partnering with a certified professional employer organization (CPEO) is an option. Outsourcing HR functions like payroll administration offers business owners more time to focus on customer service and growth. Potential cost savings are another benefit.

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The Difference Between Employer of Record (EOR) and Professional Employer Organization (PEO)

HR Lineup

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. In an EOR relationship, the EOR is responsible for administering employee benefits , such as health insurance and retirement plans.

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PEO Costs: Does PEO Make Sense for Your Business?

Zenefits

A professional employer organization (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.