Thank goodness for PEOs: 5 benefits of outsourcingAugust 22, 2013 - By: WorkSmart
More small companies are utilizing the benefits of Professional Employer Organizations (PEOs) than ever before. In fact, approximately 250,000 small and mid-sized businesses and 2.5 million people outsource to PEO firms. Â Not so surprising since PEOs like WorkSmart can execute a wide range of tasks with cost-saving and pragmatic solutions to countless HR related problems. Check out some of the benefits and services PEOs provide.
1. Time to stay business-focused
Managing intricate work-related issues can be time-consuming and wasteful for a company’s assets and revenue. By simply adding PEO services to the equation, PEOs can offer a comprehensive solution and take care of a company’s most important asset-its employees. More free time allows for a better focus on the company’s core competencies.
2. More Efficient HR Services
Businesses don’t always have the right capabilities to manage their own HR department. Outsourcing myriad tasks (payroll, employee benefit programs and HR functions) to the hands of professionals can bring more efficient HR methods. PEOs like WorkSmart can also integrate proven systems and processes to help produce a more sustainable approach to HR management and administration.
3. Big Benefits for Small Companies
One of the biggest benefits PEOs can provide to small firms is big-business benefits. If a PEO firm provides a complete “Fortune 500” benefit package like WorkSmart does, you’ll enjoy greater cost stability and choice. Better rates on workers compensation will also be available due to policies that often feature high deductibles and multiple categories.
4. Cut Costs
Outsourcing means significant savings for your company’s capital. By reducing your HR department, you can accumulate funds without having to spend it on maintaining various types of software and resources you may not need.
5. Diminish Liability
Enjoy the peace of mind provided by PEOs when it comes to government rules and regulations. Under a PEO’s guidance, a company can avoid employment related lawsuits while reducing potential risks and costs. As a valuable source of information, WorkSmart can keep you up-to-date on any policy implementations-like The Patient Protection and Affordable Care Act-to reduce any confusion.
The WorkSmart Systems team is happy to help with any additional questions your company might have about PEOs. Reach us by emailing firstname.lastname@example.org. Share more benefits of PEOs you have heard on our FacebookÂ andÂ Twitter.