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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?
How well you do HR can determine whether your company’s growth happens as quickly and cost effectively as desired and is ultimately successful. In addressing any gaps, it more time and cost effective to develop employees internally or hire externally? Rushed hiring decisions that result in hiring the wrong candidate.
Professional employer organizations (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 Professional Employer Organizations) economists Laurie Bassi and Dan McMurrer conducted research into PEOs.
Employee benefits and compensation Managing employee benefits 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.
Recruitment Process Outsourcing (RPO) is a strategic hiring model where businesses delegate part or all of their recruitment operations to an external service provider. Companies can also customize RPO models to align with their hiring needs, ensuring flexibility and long-term growth. What Is RPO?
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.
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.
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. What is a full-service PEO partner? Among PEOs, level of service matters.
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. That’s why more non-profit organizations are finding solace by partnering with a professional employer organization (PEO). What is a PEO?
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.
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? What does a PEO do?
Despite best efforts, only 48% of employees understand their healthcare costs “well.” However, finding a balance between cost and value can be challenging for small- and medium-sized businesses (SMBs). Additionally, staff value increased education and transparency to ensure they’re making well-informed decisions.
Executive recruiting firms : Organizations that specialize in helping businesses fill executive, upper management, and other senior-level positions. Administrative services organization (ASO): ASOs provide similar HR management services to PEOs but without establishing a co-employment relationship.
Employee Engagement Applications HR professionals are shifting their focus on utilizing employee engagement applications to create a positive environment at work aimed at increasing the overall productivity of the employees and reducing the rate of attrition. Around 30% of office space is said to be reduced by companies accordingly.
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.
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. These employees can be new hires or existing employees with the potential to move into other roles.
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 The job market may be cooler than this time last year, but hiring remains a top priority, according to HR Dive research.
From boosting employee retention rates to safeguarding against industry disruptions, here’s how L&D can benefit today’s SMBs, and how working with a PEO can simplify the process. ” Many types of training fall under this umbrella, including: Onboarding and new hire programs. .” Recruit top talent.
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.
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. In this case, hiring an EoR can help in new market exploration. They can introduce the new hires to your business culture and procedures.
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.
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.
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
Luckily, with a PEO partnership in their pocket, brokers can step in as trusted advisors and help their clients remain compliant. Can you achieve greater cost savings on benefits as the company scales up? Can the recruiting process be streamlined and standardized to surface quality employees even faster? State unemployment.
Quick look: PEO awareness and subsequent partnerships have increased over the past few years as brokers and their clients look for fresh HR and benefit strategies to keep them competitive. However, many organizations have begun to realize not all PEOs offer the same level of support. However, not all PEOs are the same.
As you consider what types of employees are best for your company, think about these pros and cons of hiring full-time employees and part-time employees: . Costs: Full-time employees are entitled to benefits and providing those benefits can cost employers a lot. However, PEOs can help reduce this cost to benefits. .
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. Recruiting and hiring.
This has pushed specific HR KPIs to the forefront in importance and significance. Recruitmentcosts Many employees now work remotely, or at least on a hybrid schedule. For example, a hire in California may command a $100,000 salary, but a comparable hire in Tennessee may only cost $60,000.
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 benefits specialist has the power to create a compelling benefits package that will attract and excite candidates—ultimately reducing the company’s costs associated with turnover. 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, employee benefits, regulatory compliance, tax administration, and other workforce management functions. You may read more about PEO statistics here. How Does A PEO Work?
Learn more about how partnering with us and offering automated time and labor, hiring and onboarding, HR management, and scheduling solutions has transformed countless businesses like yours. Your clients need tools for managing time and attendance, scheduling, applicant tracking, hiring, onboarding, and human resources.
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. Ideally, these sessions should occur upon hire, annually during open enrollment, and following any mid-year rewards changes. That’s when a professional employer organization (PEO) can help.
Hiring an HR professional is typically at the bottom of a start-up's to-do list despite the very real risks forgoing this "to-do" poses. The overwhelming logistics of employee relations often drive start-ups to outsource HR functions to a professional employer organization (PEO). So what do start-ups do in the meantime?
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.
Yet, it’s not all doom and gloom, as brokers and their clients have access to professional employer organizations (PEOs) to help them reinvigorate employee participation and provide the support necessary to help them do their best work.
However, this long-held strategy is unsustainable when it comes to employee recruitment and retention. Factoring this in maximizes employee benefit participation and optimizes costs for SMB employers, achieving a win-win scenario. Rather, relevancy has become a top priority when creating health plans.
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.
Quick look: Professional employer organizations (PEOs) typically offer similar services, but it’s the customer service approach which makes all the difference. Partnering with a PEO is a competitive advantage for brokers who want to expand their offerings and deliver ongoing client value.
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. Therefore, it’s important to choose a PEO partner wisely as big-box PEOs often apply a one-size-fits-all approach to benefit plans.
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.
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