Are you a small business owner? Do you constantly find yourself wishing you had more time to devote to the parts of your business you most enjoy? Do you sometimes feel that the reason you created your company in the first place is getting lost in the shuffle? If you answered “yes” to any of these three questions, you may want to consider enlisting the aid of a Professional Employer Organization, or PEO.
What Is a PEO?
More and more, small business owners are turning to PEOs to handle many of their business and human resource needs. Essentially, the PEO serves as an off-site human resources provider, and handles any number of tasks, including, but not limited to:
- Payroll processing
- Hiring and training new employees
- Managing HR-related employee claims (workers’ compensation, etc.)
- Ensuring compliance with federal rules and regulations
- Purchasing of insurance and benefit plans
In other words, the PEO takes the mundane tasks off of your plate, enabling you to focus and concentrate on matters of immediate concern to your business. You probably didn’t launch your business thinking you’d spend a healthy chunk of your time pouring over payroll and by enlisting the assistance of a PEO. You don’t have to.
The infographic below details many of the benefits a PEO offers small businesses. If you seek faster growth, lower employee turnover, and more time to focus on what you truly enjoy, a PEO just may be right for you.