Essential PEO Services That Can Help Small Businesses and Startups

Once you decide to become a small business owner or launch a startup, you now have to get through a maze of challenges that will take up most of your focus. That usually means developing your products and brand, securing financing for your business through loans or investors, maximizing sales, and implementing the right growth plan....

Essential PEO Services That Can Help Small Businesses and Startups

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Unfortunately, this usually means that essential infrastructure and operations like human resources and payroll administration find their way to the back burner, and among the reasons that businesses fail in the first five years is not being able to survive financial and legal setbacks. But if they partner with an experienced professional employer organization (PEO) broker who also offers consulting services, their risks of failing go down dramatically, and the benefits seem to be endless.

You Can Allow A PEO To Recruit And Train New Employees
Talent acquisition and employee retention sound simple in theory, but when it comes down to vetting talent, looking through resumes, deciding who to interview, looking at salary needs and ultimately deciding if your prospect is a good fit, a lot of extra time goes into this. A PEO has experienced talent recruiters and interviewers who can manage the entire process from beginning to end, and you can still make the final call on whether to hire or pass on a prospect. And even once you've hired them, the HR team can still onboard them with the employee handbook and conduct performance reviews. The right consultants will know your industry and know what kind of talent your business will need.

You Can Allow A PEO To Manage Your Payroll
Payroll services including time and attendance tracking, and even more importantly tax reporting, can be an area where businesses find themselves in both financial and legal jeopardy. Improper tax filing on payroll reports, errors in employee compensation for overtime and many other issues could trigger audits from the IRS or Department of Labor. Certified accountants and payroll administrators that a PEO will have on its team can help your company reduce the chances of running into legal problems with payroll and tax compliance. Plus, you won't be held liable for any errors in filing unlike you would if you only hired a payroll service provider.

You Can Allow A PEO To Keep Employees Up To Speed With Safety Standards
If safety hazards and dangerous situations are common in your industry, you know that you have to be prepared for training employees in OSHA, handling claims in the event of accidents, and knowing what responsibilities and insurance you need to have for your business. If you leave these tasks up to certified risk management specialists and consultants, you're far more likely to ensure your employees are in good hands. A good PEO will know all the procedures for accident prevention and mitigation to reduce the chances your business ends up getting hit with too many court costs.

You Can Allow A PEO To Oversee Employee Benefit Management

As part of employee retention and good HR management strategy, you want to make sure your employees know how to sign up for health benefits, utilize their 401k, learn about moving up and so much more. Employee retention is key for business owners, and the right PEO can implement a benefits package that fits your company size. Plus, you have a chance to make your business a part of different employee advocacy programs that prevent discrimination and lead to better morale.

Need help finding a payroll and human resources consulting package that works for your south Florida business? We've helped many clients maximize their ROI and build their workforce here at Empower Consulting Partners. As a PEO broker, we offer services for the real estate, finance, technology and manufacturing industries among others, and we offer plans that match company scalability needs. Contact us today to find out more. 

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