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Placing employees into roles for which they’re not well suited, leading to unnecessary stress on them and potentially higher turnover. Higher turnover. Retention problems. There is another solution: partnering with a PEO. Instead, a PEO offers diverse expertise for one consistent monthly or annual fee.
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. Reduced turnover : Happier employees generally lead to a lower resignation rate.
Archive old records: Securely store or dispose of records in accordance with data retention policies and legal requirements. Analyze HR metrics : Review key performance indicators such as turnover rates, hiring statistics, and employee satisfaction scores. Curious about how a PEO can help at the end of the year and beyond?
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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. Additionally, some organizations leverage a PEO’s assistance with developing an L&D program. What does L&D entail?
These efforts attract high-quality candidates and improve candidate engagement, reduce hiring time, and boost the organizations reputation as an employer of choice, ultimately leading to better retention and long-term workforce success. A well-structured onboarding experience boosts employee retention, engagement, and productivity.
Designed to highlight critical industry developments, ExtensisHR’s 2024 Trends Report features insight from our professional employer organization (PEO) subject matter experts. Your organization may not have extra time to devote to the intricacies of HR trends and employer compliance concerns, but a PEO does.
ExtensisHR’s PEO Premier® delivers HR services with an edge, complete with a personalized approach, saving time, costs, and sanity. Rather than being left behind on the latest in HR compliance, trends, and operations, why not offer clients the benefit of a professional employer organization (PEO) partner with its own premier solution?
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.
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In this article, we’ll pick apart these acronyms (plus several other related terms) so it’s clear what they all mean, and point out how each of these alternative human resource services compares to PEO companies. How PEO Companies Compare To 4 Alternatives. How PEO Companies Compare To 4 Alternatives. PEO vs. ASO.
In this article, we’ll pick apart these acronyms (plus several other related terms) so it’s clear what they all mean, and point out how each of these alternative human resource services compares to PEO companies. How PEO Companies Compare To 4 Alternatives. How PEO Companies Compare To 4 Alternatives. PEO vs. ASO.
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.
Total rewards include compensation, benefits, well-being initiatives, and recognition, and help companies increase productivity, retention rates, and talent acquisition success. 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.
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.
Employee retention is a crucial concern for small businesses, especially in today’s competitive job market. Working with a PEO allows small businesses to have access to affordable employee benefits that are typically only available to larger companies, which can help companies attract the best employees and reduce turnover.
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. PEOs help businesses manage various aspects of their HR, recruiting, employee benefits, payroll, and risk management. In fact, nearly 70% of U.S.
Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. Below we outline what a payroll company will do for you vs. what you’ll get with a different (and more holistic) option, the PEO. What is a PEO?
The strange blend of factors that we’re currently experiencing make the looming recession unlike any other: Inflation coupled with rising interest rates A severe talent shortage Heightened turnover owed to the ongoing Great Resignation Wage growth The rise of hybrid and remote work. Keep employees engaged and motivated.
In response to rising employee turnover in the industry, many are adopting real estate HR strategies designed to support their workforce and improve retention. High turnover rates, however, impact industry leaders’ ability to maintain such valued teams. Quick look: Real estate companies need dream teams to sell dream homes.
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?
All these activities govern how satisfied employees are and influence the quality of their work output and retention. Hiring right the first time also reduces turnover costs. Analyzing data around employee engagement, turnover and retention. Is turnover decreasing? Which metrics need improvement?
Employee engagement Post-pandemic turnover – also known as the Great Resignation – has led HR departments to zero in on employee engagement, satisfaction and retention. Employee retention Employee retention is all about those workplace attributes that convince team members to stay for a long time.
Co-employment sits at the heart of the relationship between professional employer organizations (PEOs) and their clients. According to NAPEO , co-employment is the contractual allocation and sharing of certain employer responsibilities between a PEO and client. With co-employment, risk is shared between the PEO and your company.
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. PEO customers have a 2x higher growth rate When compared to non-users, SMBs working with a PEO reportedly grow twice as fast. annually, compared to 1.9%
Quick look: While professional employer organizations (PEOs) are known for services like benefits and payroll, they can provide so much more. Here are four lesser-known PEO offerings, from recruiting to employee surveying, that can help businesses attract and retain talent and develop data-driven processes. Recruiting services.
Keep reading to sharpen your awareness of the HR trends impacting charter schools and how professional employer organizations (PEOs) like ExtensisHR help schools’ employee operations get on track for the new year. How a PEO helps: Your PEO partner can help assess your school’s current DEI landscape.
Quick look: Partnering with a professional employer organization (PEO) has been an increasingly popular business strategy over the past decade. Reports show the number of employers using PEOs has grown nearly 40% since 2008, and Guardian’s 11 th Annual Workplace Benefits Study shares insights into why.
If your HR department is tied up with those basic functions in a growing business, then they will have limited time to work on more strategic initiatives such as: Leadership development Employee recruitment and retention Employee engagement. The PEO value proposition for middle market. Why middle market businesses partner with a PEO.
Quick look: The National Association of Professional Employer Organizations (NAPEO) recently released a market research survey illustrating the substantial rise in firms partnering with PEOs. Of those surveyed, PEO visibility increased 44% since 2018. The awareness and integration of PEO solutions has risen 44% since 2018.
Research has shown a lack of attention to the matter results in a lack of productivity and performance and an increase in burnout and turnover. With the help of a professional employer organization (PEO), brokers and their clients can find solutions which speak to their employees’ specific needs.
Additionally, business leaders can boost retention by improving their benefits packages, workplace culture, internal advancement opportunities, and more. How a PEO can help you succeed without non-competes Employment laws may fluctuate, but your success doesn’t have to. Employee recognition Saying “thank you” matters.
You probably know that a professional employer organization (PEO) can help you with benefits and payroll. Many PEOs offer several services that can be just as, if not more, beneficial to your employees and organization. Below are five little-known PEO services to consider before you choose a company. Compensation services.
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. The typical formula includes attention to sales, marketing, and retention. HR is integral to any business because, at its core, it affects employee engagement, retention, and growth. In particular, unhappy employees lead to high turnover, and turnover is often an invisible (and expensive) cost that hinders growth. .
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