Professional Employer Organization.
As a business owner, you are responsible for an overwhelming number of tasks. Many of these tasks require knowledge and expertise in areas unfamiliar to you. Let’s be honest, this isn’t why you started your business in the first place. You started your business because of your passion and desire to build a thriving and profitable enterprise. So what’s weighing you down? One of the biggest challenges experienced by business owners is HR related tasks. Thousands of small and mid-sized businesses are engaging with Professional Employer Organizations (PEOs), such as Tandem HR as a solution to these challenges. Here’s when you can benefit from a Professional Employer Organization relationship:
Administration of your people is taking more time out of your day than your primary job.
Do you cringe when you hear the words ‘payroll’ or ‘employment law compliance’? These issues are very important and lack of proper attention or a seemingly small mistake can lead to big problems, including the possibility of costly penalties. You’re probably spending way too much time dealing with and worrying about these critical areas!
A Professional Employer Organization can provide you with a complete HR infrastructure, which includes specialists in human resources, payroll, benefits and risk management. These services are provided at a fraction of the cost required to bring them in house.
The thought of shopping for or administrating benefits makes you want to jump off a bridge.
There are so many benefits options in the marketplace. Which will your employees value the most? Which products are dependable and from reputable companies? Why is there such a disparity in pricing? Is the coverage ACA compliant? What percentage of medical costs do most employers cover? Eliminate the need to spend hours shopping and negotiating benefits by partnering with a PEO.
After your benefits packages are established, a PEO will take full responsibility for administering your benefits. In addition to new employee orientations, your PEO will host annual benefit renewal meetings to help educate your employees and ensure timely enrollment. The PEO also assists with benefit claims issues, acting as an advocate on behalf of your employees with the insurance carriers.
You’re unable to compete for and retain key talent – losing great resources to your competitors.
A major incentive for potential employees is the benefits package. Today, benefits go well beyond medical insurance. Your competitors are offering robust benefits packages that may be hard to compete with. A PEO is able to pool its entire client base for significant buying power in order to provide a wide range of benefits at an affordable price.
Beyond benefits, your company profits from a Fortune 500 style HR infrastructure. A full team of knowledgeable HR professionals are assigned to your organization creating a professional experience across all levels of employee relations throughout the employee life-cycle.
Compliance seems overwhelming and keeps you up at night.
Thinking about things like FLSA, ACA, or HIPAA can be stressful. You’re a business owner, not an expert in government regulations (especially since they’re always changing). A PEO offers experts that can make sure your business is in full compliance with all government regulations.
Outsourcing your HR with a PEO is a fantastic solution to the problems that you as a business owner are facing. If you want to save yourself the headache and hassle of HR related tasks, check out Tandem HR today to see how a PEO can help your business and give you real peace of mind.