A professional employer organization (PEO) is a form of human resource outsourcing in the form of co-employment. Commonly, a PEO will complete various employee administrative tasks, payroll services being among the most common. PEOs are often utilized by businesses to ensure protected business growth and management.
How Does a PEO Work?
PEOs, as previously mentioned, complete tasks like payroll services and a variety of other human-resource-related functions, including training and employee benefits, to ensure businesses comply with state and federal requirements. In an arrangement between a PEO and a client, the PEO will likely be responsible for payroll taxes and employee pay while other administrative business functions are shared among the client and the PEO.
What Are Some Common PEO Functions?
It’s important to note that the expectations of a PEO vary from business to business, depending on the arrangement set in place. However, some common functions of a PEO might include the following:
· Payroll/tax filing can help reduce entry errors for employee pay and ensure state tax laws are followed correctly.
· Human resource assistance can support an organization’s employees. PEOs sometimes partner with in-house human resource professionals.
· Benefits administration assists in helping employees enroll in benefits such as health insurance, retirement plans and dental care.
· Compliance helps prevent potential fines and penalties for not following state and federal regulations required for businesses.
While these are among some of the most common expectations and functions for PEOs, it should be noted that a PEO might be able to provide more assistance. To learn more about acquiring a PEO for your business, contact ProRisk Advisors today.
Why Should I Get a PEO?
A PEO, in short, is meant to reduce employer stress. Time spent on ensuring aspects like payroll services are in order can be focused on other necessary business functions, while your PEO ensures everything else is in order. Instead of focusing company resources on tedious business requirements, you’ll be able to commit your time elsewhere to ensure continuous business growth and success. In acquiring a PEO, you can have peace of mind knowing your business stays in compliance with federal requirements.
Reach Out Today
If you are a business owner near Hoschton, Georgia, consider reaching out to ProRisk Advisors today to learn more about PEO services. Contact us at 770-540-7182 for more information.