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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: A new year is here, and with it comes a fresh set of workplace trends, from further incorporating artificial intelligence into daily tasks to designing comprehensive succession plans. You may also download the entire report using the button below. An AI-driven program can streamline that task without replacing the current system.
In this guide, we’ll explore practical strategies to streamline open enrollment and how a PEO can help busy SMBs make the most of their benefit election cycle. In this blog, we’ll dive into the key aspects of open enrollment, why it’s important to companies and their staff, and three tips to improve and simplify the experience.
The HR technology market in 2024 was a story of resilience and growth amidst a rapidly changing global landscape. These trends underscore the continued evolution of HR technology as a critical enabler of business success, especially as companies focus on skills, retention, and employee well-being in a competitive labor market.
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)?
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.
Quick look: The humanresources industry has changed substantially in the last several years—a pattern that will continue in 2024. Today’s business landscape is highly competitive, meaning organizations must brush up on and adapt to the latest HR trends.
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!):
Quick look: It’s National Retirement Security Month, making it the perfect time for brokers to equip clients with the tools and resources needed to help their employees plan for a secure financial future. Plus, discover why partnering with a PEO can give you and your clients a competitive edge. Sources state that over 4.1
And the ongoing administrative tasks necessary to retain the brilliant team you developed left no opportunity for strategic growth planning. Now, what’s difficult to discern is the difference between what a PEO might be able to do for you and the mythical tales that are fogging your mind. Then something happened.
From employer-sponsored health insurance to retirement savings plans, an attractive benefits package can help you hire the best employees and ensure you retain them for many years to come. Your HR personnel should be on hand to address any questions. Need a little extra assistance making humanresources decisions?
A Professional Employer Organization (PEO) allows its clients to outsource many of their humanresource 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. PEO Benefits.
A professional employer organization (PEO) provides a range of services to companies that want to outsource humanresources administrative tasks. They are staffed by professionals specializing in humanresources, taxes, compliance law, and accounting. PEOs and their clients are considered co-employers.
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.
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.
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. One major advantage of working with a PEO is access to high-quality employee benefits.
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. You may read more about PEO statistics here. How Does A PEO Work?
Every year, SHRM takes an in-depth look at various benefit categories and trends for brokers, HR professionals, and business leaders to have on their radar. As one of the longest-running annual surveys covering employee benefits , it’s been a valuable resource when making decisions about offerings.
When employers plan to permanently reduce headcount at the time of termination (e.g., You could, however, elect to delay the termination of benefits for these employees if your benefits plan allows it. But many times, laid-off employees are ineligible for coverage under group health plans. Are you in search of a PEO?
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.
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.
Below, explore what National Wellness Month is all about, the significance of promoting employee health and wellness, and discover how partnering with a professional employer organization (PEO) can help your business achieve these goals. What is National Wellness Month? Don’t stress!
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.
Quick look: Reports show startup businesses have experienced a slight decline in 2024 which means the demand for new benefit plans may have also slowed. However, brokers can look to this as an opportunity to review clients’ current benefit plans and confirm they still align with their business goals.
To support this shift and lessen the impact on businesses, brokers have begun to partner with professional employer organizations (PEOs) on a more frequent basis. Working with a PEO automatically expands a brokers service offerings by providing clients with tailored HR and benefit solutions.
With over 20 years of experience, Dave has positively impacted hundreds of small businesses in our community by finding unique solutions to the benefits, payroll, humanresources, and risk management challenges that companies in Utah and Wyoming face. PEO stands for Professional Employer Organization.
Quick look: Many humanresources (HR) professionals, particularly those who work for small businesses, often find themselves in a challenging position. This leads some to long for a trusted, skillful extra set of hands, and thats precisely what a professional employer organization (PEO) offers. What is the role of a PEO?
A PEO also referred to as a professional employer organization, has continued to gain recognition mainly due to its benefits to small and medium-sized organizations within the United States. It has helped such businesses grow by offering HR services in areas where they can’t hire employees full-time. What is a PEO. PEO Benefits.
HR blunders are not. From ghosting remote employees to overlooking artificial intelligence (AI), here are seven common HR mistakes and how partnering with a PEO can help companies avoid these terrors. Many humanresources (HR) departments are experiencing rapidly changing work environments.
Though 401(k)s are still a large piece of the retirementplanning puzzle, raising awareness about voluntary benefits has become just as essential to boost savings confidence and employee satisfaction. Employees are evaluating how they’ll be able to afford to maintain their health and well-being into their retirement years.
Increased demands on your time and resources can quickly spiral out of control. Without a growth plan in place, your fast and impressive progress can become a top-heavy burden to your businesses success. Recognizing and planning for these common obstacles in your business’s life cycle can help you avoid them.
Managing a growing team presents new complexities for small businesses—especially in the HR department. But, with the right HR system , HR leaders can optimize scaling operations while supporting team member engagement and productivity. What is HR software for small businesses?
As these humanresources technology trends quickly replace past tools and strategies, businesses turn to their brokers to educate, modernize, and safeguard them. A business’ technology plan must include personalization and digitization while continuing to streamline processes and create ongoing value. Distributed workforces.
Quick look: As a small business, it can be challenging to manage day-to-day operations while maintaining focus on growth, which is why it’s helpful to partner with a PEO. Here’s a closer look at what the data reflects and why outsourcing HR services should come as a relief to business owners. annually, compared to 1.9%
An Administrative Services Organization (ASO) is a specialized third-party provider that helps businesses manage essential HR functions without assuming any employer responsibilities. This makes ASOs an ideal solution for businesses that need expert HR assistance without relinquishing authority over their employees.
Quick look: Imagine never worrying about humanresources again. With ExtensisHR’s PEO Premier®, our personalized approach to HR management saves your business time, work, and stress. Keep reading to see how we make HR easy by doing it for you. PEO Premier® allows your organization to offload its HR function.
To honor National Employee Benefits Days 2025 theme of building future financial stability, we review how brokers and PEOs can equip clients with comprehensive benefits, intuitive platforms and tools, educational sessions, and more. As such, many employers are taking action to help their staff improve their economic standing.
Partnering with a Professional Employer Organization or PEO for HR solutions will save you hours of humanresource administration. It can also translate to better benefits and a Fortune 500-style HR infrastructure for your employees. Finding the perfect PEO may seem like a daunting task.
Quick look: 2023 has been a big year for PEOs. According to the National Association of Professional Employer Organizations (NAPEO), awareness has risen 44% since 2018 , with a record 33% of business owners using a PEO last year. However, some SMBs end up experiencing buyer’s remorse.
For deeper insights backed by industry leaders, be sure to download the ExtensisHR 2025 HR Trends Report here. Humanresource (HR) leaders play a fundamental role in navigating these workplace trends and naturally develop questions along the way. The world of work is changing faster than ever.
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