Running a small business is quite a task, and it can be exhausting to contend with all of the bookkeeping, payroll and HR needs of the company. Many business owners are completely unaware that professional employer organizations, otherwise called PEO, exist. PEO companies are able to offer several beneficial HR services, one of which is PEO payroll service. In addition to managing the payroll for your employees, a PEO company is able to choose affordable benefits packages and implement 401(k) programs.
Using a PEO company is usually much more affordable than hiring your own HR team to work in the office. A PEO company has already handled the hard work of hiring an extensive team of experienced HR and payroll professionals, so you'll have access to the best in the business while avoiding the costs associated with a single full time employee. Small businesses can also hire cost-effective payroll and bookkeeping services.
Offer Attractive Health Plans
Many small businesses are working on a tight budget, and it might be difficult or impossible to afford even a group health plan. When you use PEO payroll services, you'll likely be able to offer comprehensive benefits, and in turn, ensure employee happiness.
Stay Compliant With Regulations
The HR department will need to comply with a vast array of government regulations, and it can be frustrating to stay on top of the latest labor laws. If you're already pressed for time and you're worried about meeting state regulations, invest in services from a PEO company. Their HR and payroll professionals always stay up to date with the latest tax and labor laws, so you'll be able to focus your time on other aspects of keeping the company successful.