5 Things a PEO Checks Off Your 2018 HR Wish ListNovember 28, 2017 - By: Matt Thomas
Now that the holiday season is in full swing, it’s time to start thinking about those New Year’s resolutions. Don’t worry, I’m not talking about working out more or eating healthier. I’m talking about what’s on your Human Resources Department wish list for 2018. Here are the top five things a Professional Employer Organization (PEO) will check off your 2018 HR wish list:
1. Hand off pesky administrative tasks
You know all that administrative busy work that tends to bog down your to-do list? PEOs specialize in tackling those annoying tasks that take your focus off your big picture business goals.
Imagine the amount of time you could devote to new employee engagement programs, networking events you’ve been neglecting to attend and strategic planning for the future, if you didn’t have to worry about managing payroll every week.
2. Ease your legal worries
One of the most important responsibilities of an HR department is to make sure business practices are in compliance with workplace regulations to avoid risk, and hopefully, any legal action against your organization. It can also be one of the most stress-inducing.
Employment laws are constantly changing, so having a PEO partner can help dispel confusion and prepare you for new regulations coming down the pipeline by providing guidance, civil defense and employment liability insurance.
3. Save money
HR is typically considered a costly department to run because it doesn’t always produce revenue. It can be challenging to convince upper management you need more resources to not only hire top talent, but also to create processes to keep top talent. While direct ROI isn’t as obvious, putting client retention and onboarding practices in place can pay dividends in the future.
To overcome this hurdle, HR managers are having to work smarter with what they have, which means improving the overall efficiency and effectiveness of your business operations. Hiring a PEO partner can offer a turnkey, cost-effective solution that will help keep your business running smoothly without expending all your resources trying to stay afloat.
4. Acquire a fully-staffed HR department
Most small business owners don’t have the space, money or resources to hire a full HR department in house. Usually, HR tasks lie with the business owner – dealing with management functions of HR that shouldn’t be crowding their to-do list. A PEO can handle everything an HR department would, yet without the hassle, freeing up time for business owners and operations managers who should focus their energy elsewhere.
The co-employment relationship between a PEO and the business who hires them allows access to an expert HR staff, better employee benefit programs on a large company platform and services like managing payroll, that can take precious time away from core business management.
5. Make open enrollment less stressful
Open enrollment is already a hectic period as employees rush to make decisions on health care plans for the coming year. Add in all the uncertainty and confusion around our country’s ever-changing policies and your HR department will go crazy trying to answer questions.
PEOs are usually so ingrained in the policy and practice of employee benefit programs that they naturally have those answers readily available. The majority of PEOs can also offer a wider range of benefit options as a larger operation, which means they can get your employees a better deal on benefits.
Bottom line, whether you are a business owner or an HR manager, a PEO should be on your wish list for 2018. Make the New Year’s resolution to be more efficient and less stressed in the coming year by looking into partnering with a PEO.
Is a PEO on your 2018 human resources wish list? Read more about what a PEO is and how they can help you work smarter in the coming year.