This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Professionalemployerorganizations (PEOs) offer a cost-effective solution to this problem. Besides the cost savings, working with a PEO can yield many benefits to employers. NAPEO (National Association of ProfessionalEmployerOrganizations) economists Laurie Bassi and Dan McMurrer conducted research into PEOs.
A ProfessionalEmployerOrganization , 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 human resources, taking care of payroll, overseeing workers’ compensation issues, and offering employee benefits.
Choosing the right professionalemployerorganization (PEO) for your company is a huge project. The internet abounds with stories of PEOs increasing rates without warning or going out of business without paying employees or payroll taxes. For more information on certified employerorganizations go to www.IRS.gov.
Employee records Updating and maintaining current employee records is more than just a housekeeping routine—it’s a foundational practice that supports payroll accuracy and helps your company avoid potential litigation. Payroll Closing your business’s books at the end of the year is imperative.
From recruiting employees 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.
Be prepared to answer questions New employees, and even those who are returning for the season, will naturally have questions about your organization. Some small businesses partner with a professionalemployerorganization (PEO) , like ExtensisHR, which has a readily available customer service team to field employee requests.
A ProfessionalEmployerOrganization (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.
Payroll technology advancement Human resource professionals have been forced to compensate for a dynamic workforce since there are no more limitations to hiring people from nearby regions only. Also, as there is increase in remote business global payroll management has become a regular practice.
Tandem HR announced the acquisition of The QTI Group’s ProfessionalEmployerOrganization (PEO) division on August 31, 2021. The QTI Group is a privately owned human resources and staffing organization providing staffing, recruiting, compensation consulting, and outsourced HR to businesses headquartered in Wisconsin since 1957.
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.
Before diving into the latest HR outsourcing trends, it’s important to understand the various types of HR outsourcing companies, which include the following: Benefits consultants : Firms or individual professionals who assist companies with selecting, purchasing, and administering benefits plans. And the PEO industry is booming.
Tactical HR refers to routine, day-to-day administrative tasks, such as processing employee paperwork and handling payroll.) Instead, strategic HR encompasses big-picture, wide-reaching activities that prepare the organization for the future, add long-term value and enable the business to thrive.
Quick look: It’s National Payroll Week, an important time to honor payrollprofessionals’ work to keep the country operating smoothly! 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.
An employer of record (EoR) is an individual or third-party company that works by assuming the legal responsibility for finding and hiring employees on behalf of foreign business owners. An employer of record can update you with changing labor laws, ensuring your company remains compliant. 4.
However, like any other organization, they also face challenges in managing their HR functions. That’s where professionalemployerorganizations (PEOs) come in handy! That’s why more non-profit organizations are finding solace by partnering with a professionalemployerorganization (PEO).
For businesses bogged down by human resources requirements, partnering with a certified professionalemployerorganization (CPEO) is an option. Outsourcing HR functions like payroll administration offers business owners more time to focus on customer service and growth. A PEO provides covering: Payroll.
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., AS1] COBRA is a federal law and only applies to employers with 20 or more employees.
What is co-employment? The National Association of ProfessionalEmployerOrganizations (NAPEO) defines co-employment as “the contractual allocation and sharing of certain employer responsibilities between the PEO and the client.” Payroll and tax services. Comprehensive risk and compliance services.
This can happen when an employee is terminated with a payroll company, but the employer forgets to notify one or more insurance carriers – medical, dental or vision, for example – that the employee is no longer with the company. Together, this equates to greater peace of mind that present and future HR needs are met.
Here are some questions to consider asking: How are you managing payroll? Are you sure your payroll solution is compliant? They might employ an in-house HR or payroll coordinator tasked with the complete scope of HR functions, from onboarding to payroll to benefits administration and beyond. This is where you can help.
Are rumors about companies that have had professionalemployerorganization problems 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. But rest assured — a PEO is employer for certain purposes only (e.g.,
Companies that didn’t have the infrastructure to hire talent internationally looked to EORs, which act as a legal entity employing workers on behalf of a business, overseeing payroll, taxes, and benefits. Examples include payroll, benefits administration, and managing state-level compliance (e.g., One-stop shop.
Managing payroll and handling other tasks for your clients is much more challenging without access to complete and accurate data. Payroll accuracy will improve and your clients may even see an improvement in labor costs through the elimination of buddy punching and other time card fraud.
Artificial intelligence (AI)-powered recruiting tools , which small businesses may access via a professionalemployerorganization (PEO) like ExtensisHR, can aid in this search by eliminating subconscious biases. Even better is a partner that not just understands but prioritizes your needs as a broker.
The good news is that you can outsource your HR functions from credible ProfessionalEmployerOrganizations (PEO). With a PEO, you are guaranteed access to financial and HR expertise, including creating employee benefits plans, payroll management, and employee onboarding. Top 10 PEO Companies in 2023: 1. Resourcing Edge.
As industries evolve and competition for top talent intensifies, RPO offers organizations a strategic edge, allowing them to scale hiring efforts seamlessly while focusing on core business objectives and long-term growth.
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% Direct costs. Administrative fees.
Quick look: The first week of September is National Payroll Week, a time to recognize the dedicated payrollprofessionals who ensure timely and accurate payments for their companies and employees. Coinciding with Labor Day, it also serves as a reminder of how the payroll cycle affects more than companies and their employees.
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. They both offer a range of services, including payroll, taxes, benefits, compliance, and risk management.
One of the best ways to do this is by leveraging ProfessionalEmployerOrganizations (PEOs). By partnering with a PEO, insurance brokers can provide comprehensive human resources services, payroll, benefits administration, and more—all without having to hire additional staff or make significant investments in technology.
The overwhelming logistics of employee relations often drive start-ups to outsource HR functions to a professionalemployerorganization (PEO). 3) Bring a Payroll and Benefits Broker Into the Fold Another cost-saving stop gap is to find a payroll and benefits broker who specializes in small businesses.
As a professionalemployerorganization (PEO) broker, preparing clients for these fluctuations year to year is essential. Through our HR, payroll, benefits, and risk management services and industry-specific expertise, we create personalized solutions to empower your clients’ growth. Contact ExtensisHR today.
NAPEO ) This article is for leaders of small to midsize businesses and HR managers who are interested in learning what, exactly, a co-employment relationship is and how it’s related to partnership with a PEO. Co-employment sits at the heart of the relationship between professionalemployerorganizations (PEOs) and their clients.
This type of worker or employee is still a salaried individual (not an independent contractor), but they don’t show up on your company’s payroll. Other options are using the services of a professionalemployerorganization (PEO) or working with an employer of record (EOR). Leased workers.
Feeling overwhelmed by the number of professionalemployerorganizations (PEOs) on the market? Payroll matters : Does one of your employees need to update their W-4 or access their W-2? The ESC team can answer those payroll inquiries and more. You’re not alone.
An Administrative Services Organization (ASO) is a specialized third-party provider that helps businesses manage essential HR functions without assuming any employer responsibilities. Difference from PEO Unlike a PEO, an ASO does not enter a co-employment arrangement, allowing businesses to retain full control over their workforce.
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 professionalemployerorganization (PEO) partner with a history of proven success. years Payroll 11.3
From hiring new talent to upskilling tenured staff, HR professionals wear many mission-critical hats. PEOs feature a co-employment relationship and also offer SMB employers access to competitive benefits through the PEO’s purchasing power and economies of scale. However, an HRIS is not a standalone solution for HR management.
As your business grows, it becomes necessary to outsource many administrative tasks, such as payroll. Ultimately, you will have to decide between hiring a payroll company or a professionalemployerorganization. However, finding a company to help can be challenging.
As you review your payroll operations, keep the following in mind: Headcount inefficiencies. HR and payrollprofessionals spend much of their day handling manual data manipulation, performing data transfers, and reviews. However, if your global payroll is integrated with your HCM, these actions are automated.
Quick look: It’s National Payroll Week – an important time to honor the work that payrollprofessionals do to keep the country operating smoothly! Here we explore the importance of payroll, how a PEO’s payroll experts impact SMBs across the country, and all the other ways PEOs help businesses, too.
We organize all of the trending information in your field so you don't have to. Join 318,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content