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A Professional Employer Organization , or PEO, allows businesses to outsource their administrative needs to a third party that specializes in these duties. This can include (but is not limited to) managing humanresources, taking care of payroll, overseeing workers’ compensation issues, and offering employee benefits.
Managing humanresources is one of the most critical yet time-consuming aspects of running a business. From recruiting employees and handling payroll to ensuring compliance with labor laws, HR tasks require constant attention and expertise. HRO can be structured in different ways.
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. There are holiday celebrations to prepare for and attend, looming work deadlines, and your staff’s time off to track and plan around.
Strategic humanresources (HR) will be one of your organization’s greatest assets and supports during this time. In fact, your company’s strategic HR expertise is nothing less than critical in facilitating business growth and helping to avoid common pitfalls and challenges that can plague organizations trying to scale.
The HR technology market in 2024 was a story of resilience and growth amidst a rapidly changing global landscape. From groundbreaking mergers and acquisitions to the introduction of innovative solutions that redefine talent management, payroll, and employee experience, 2024 has proven to be a year of transformation. With the U.S.
Handling employee benefits and other HR services in-house is extremely difficult for many small businesses. There are many reasons, including being short-staffed and needing an internal HumanResources department, which is a reality for many small and medium-sized companies. What is a professional employer organization (PEO)?
Tandem HR announced the acquisition of The QTI Group’s Professional Employer Organization (PEO) division on August 31, 2021. The QTI Group is a privately owned humanresources and staffing organization providing staffing, recruiting, compensation consulting, and outsourced HR to businesses headquartered in Wisconsin since 1957.
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. Plan ahead The key to seamless seasonal hiring is to start planning a few months ahead of an anticipated business surge.
Are rumors about companies that have had professional employer organization problems keeping you from hiring a PEO? Granted, it’s certainly wise to do research about HR outsourcing. But let’s take a close look at six myths about PEOs. But rest assured — a PEO is employer for certain purposes only (e.g.,
You have many options for outsourcing your company’s humanresources (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.
However, like any other organization, they also face challenges in managing their HR functions. That’s where professional employer organizations (PEOs) come in handy! In this blog, learn about five HR benefits non-profits can achieve with a PEO partnership. What is a PEO?
However, behind the scenes of every successful medical practice lies a complex web of administrative tasks, HR responsibilities, and regulatory hurdles. 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.
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. However, the PEO does not supply workers to their client.
Quick look: By 2026, the HR outsourcing market is expected to grow by $10.90 Here, explore the latest HR outsourcing trends, including the various types of HR outsourcing companies, which HR duties SMBs are offloading the most, and how to choose the right partner to help your organization simplify its workload and succeed.
Choosing the right professional employer organization (PEO) for your company is a huge project. A mismatch between your company’s culture and that of your PEO, or partnering with a financially unstable PEO, can spell trouble both for your company and your employees. Are you a certified PEO?
Global payroll and HR platform Deel announced Thursday during its virtual customer event several new products and features aimed at streamlining workforce management across the globe. Payroll pros. Sweet suite.
What COVID-19 has taught us about HR Strategy. A strong HR strategy makes a significant difference in the survival of an organization, especially in times of a crisis like COVID-19. Some small and mid-sized businesses, however, may not see HR strategy as a top priority. PEOs assist with rapidly changing employment law.
Luckily, with a PEO partnership in their pocket, brokers can step in as trusted advisors and help their clients remain compliant. Here are four ways to safeguard your clients from HR risks while also further proving your value. Here are four ways to help your clients navigate HR risks and increase your value in their eyes.
Quick look: It’s National Payroll Week, an important time to honor payroll professionals’ work to keep the country operating smoothly! Here, we explore the importance of payroll, how PEOpayroll services impact SMBs across the country, and all the other ways PEOs help businesses, too.
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. According to market research firm Technavio , 56% of the HR outsourcing market’s expected growth between 2022 to 2026 is slated to come from North America.
Quick look: Happy HumanResource Professional Day! This celebration occurs annually on September 26 and is dedicated to honoring the hardworking HR teams who work tirelessly to support, guide, and empower employees. Here are 10 reasons to show appreciation for your HR staff on HumanResource Professional Day (and year-round!):
Unlike traditional staffing agencies that focus on filling specific positions, RPO providers take a more holistic approach, integrating seamlessly with an organizations HR team to manage end-to-end recruitment functions. How RPO works: An RPO provider works closely with a company’s HR team to enhance hiring efficiency and effectiveness.
Co-employment is a contract and sharing of employer responsibilities between a PEO and its client, an employer. Benefits of the co-employment business model used by PEOs include giving client companies access to a broader spectrum of employee benefit plans, sharing employer risk, and shifting fiduciary liability of 401(k) plans to the PEO.
It’s also an ideal time for humanresources (HR) professionals to analyze the trends that have shaped the industry over the past year and identify actionable tips for the coming months. However, HR outsourcing can also drive many other advantages.
What happens when some of those stressed-out employees are on your humanresources team? In this article, we’ll look at the impacts of burnout on the HR team, and more importantly, how your organization can avoid it. Learn how a PEO can lighten your HR team’s overwhelming load of time consuming administrative tasks.
This includes planning and investments in staffing, personal protective equipment (PPE), and forecasting tools. As a professional employer organization (PEO) broker, preparing clients for these fluctuations year to year is essential. PEO brokers keep SMB clients updated on what will help keep them competitive.
Quick look: The role of humanresources (HR) departments continues to expand, especially for small businesses, which look to their HR professionals to manage the full employee lifecycle and wear multiple hats each day. If you’re encountering HR issues, you’re not alone.
Quick look: For some clients, HR outsourcing is the best of both worlds: they gain access to the same high-touch offerings as PEO clients but remain the employer of record. Here, explore how HR outsourcing services can help companies save time and money and serve as a way for brokers to differentiate and grow their book of business.
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.
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. Common employee benefits include health, dental, vision, and life insurance, and retirement savings plans. pay and benefits) and well-being, flexibility, and career programs.
When an organization needs to reduce its payroll due to financial hardship, there are two options employers may consider: furlough vs. layoff. When employers plan to permanently reduce headcount at the time of termination (e.g., But many times, laid-off employees are ineligible for coverage under group health plans. PTO payout.
Humanresources play a vital role in the daily operations and long-term success of your business. The people working for your business’s humanresources are responsible for developing and changing your organisation’s culture. Your business won’t thrive if it doesn’t implement strong HR practices.
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.
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.
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 2024 Identity of HR survey discovered that 36% and 22% of HR professionals said that mental health/counseling and educational perks (i.e.,
A Professional Employer Organization (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.
The days of thinking about humanresources (HR) as merely a supportive, administrative function – say, passively managing employee documentation, overseeing timekeeping and administering payroll – are long over. So, why does HR matter? In today’s workplace, what all does HR encompass?
Professional Employer Organizations (PEOs) help businesses manage essential HR tasks like payroll, employee benefits, and compliance. By partnering with a PEO, companies can focus on growth while outsourcing time-consuming administrative work.
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.
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 professional employer organization (PEO) partner with a history of proven success. years Payroll 11.3
To meet employees’ growing demands and help employers maximize their investment, brokers play a key role in designing benefit packages and find partnering with a PEO delivers the ideal support. As a result, a focus on benefit relevancy is as important , if not more so, than the number of benefits available.
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. as of September 2024.
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. The time and attention required for effective benefit management is one of the many functions of a HR department.
Professional Employer Organizations (PEOs) provide comprehensive HR solutions for businesses by handling payroll, benefits administration, compliance, and risk management. By partnering with a PEO, businesses can outsource essential HR functions, allowing them to focus on their core operations.
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