PEOs provide HR Services for Small Business
Entrepreneurs typically start a business because of a great idea or a passion. Rarely do you find a business started for the sheer thrill of processing payroll or because hiring and firing people is a hobby. Nor does anyone start a business for the excitement they feel when complying with employment law. Yet, these are all very important elements of a fully operational organization. Processing payroll, benefits shopping, employee relations, and a host of other HR services for small business are obligations of employers, not options.
Small and mid-sized businesses can provide the HR their people need without wasting time or money by engaging with a Professional Employer Organization or PEO. A PEO is an organization that provides comprehensive HR solutions to small and mid-size businesses, such as payroll, benefits, HR, tax administration, and regulatory compliance assistance. This allows owners and executives to spend their valuable time growing the business.
What HR services for small business does a PEO provide?
PEOs may vary slightly on services provided, but the basics include payroll and benefits administration, employee relations and risk management. Some of the things you can expect that your PEO will provide to you, include:
- Payroll processing
- Federal & state tax withholding, filing, and reporting
- Direct deposit
- PTO tracking
- Debit card loading and distribution
- Additional deductions/contributions
- Standard and custom reports
- Offer a variety of insurance plans to create a robust benefits package at a great group rate
- Tax savings plans (HSA, FSA)
- Employee Assistance Program (EAP)
- 401(k) or retirement planning
- Open enrollment meetings
- Benefits administration including claims management and bill reconciliation
- Employee handbooks
- Job descriptions
- Supervisor guidance and coaching
- New hire onboarding
- Assistance with performance issues up to termination
- Personnel file maintenance
- HIPAA compliance
- Employer Practices Liability Insurance (EPLI)
- Reward and recognition programs
- Employment verification
- Drug-free workplace policy administration
- Unemployment claims administration
- Training and development
- Assistance with recruiting
- Safety audits
- Safety program strategy, guidance, and training
- OSHA record keeping
- Post-accident investigations
- Workers’ compensation coverage and claims resolution
What should I look for in a PEO?
Partnering with the right PEO is critical to the success of your business strategy. Your HR team, whether in-house or outsourced, should be a seamless extension of your staff. When PEO shopping, consider:
- Solutions: do they offer a solution that fits your unique needs?
- Service: how often will you be interacting and will they visit you in person?
- Vision and values: do they align with your own?
- Financial stability: are they IRS certified or ESAC accredited?
When considering a PEO, be sure to ask these 9 essential questions before choosing a partner.
Chicago HR Services
Tandem HR’s mission is to provide customized and high-touch human resource solutions to organizations, enabling their growth and creating phenomenal company cultures. We’d love to discuss the HR services for small business that will further your organization.
Contact us today at 630.928.0510, firstname.lastname@example.org or click on the Get Started button below to submit our FREE consultation form.