Let’s face it… for business owners, dealing with payroll, insurance and governmental compliance is time consuming, distracting and frankly just boring! Nobody ever started a company thinking “I can’t wait to deal with work comp claims”. Many business related tasks are necessary for the success of a company but in reality are not contributing to the company’s growth. Many successful businesses become that way by focusing the company’s resources on expanding sales and improving their products or services. Not by doing HR related administrative tasks. Fortunately there is help - from a Professional Employer Organization or PEO. PEOs specialize in helping companies manage four core areas of administration – Payroll, Workers’ Compensation Insurance and Administration, Employee Benefits Administration and HR Administration. In each of these areas PEOs offer a wealth of services and management expertise that relieves the burden from business managers. It is estimated that over 50,000 businesses in the USA have hired a PEO to help manage these tasks.
Action Steps
The best contacts and resources to help you get it done
Learn more about PEO - Professional Employer Organizations
Taking a moment to investigate the PEO industry may be worthwhile if your company is less than 500 employees, has had challenges obtaining competitively priced workers’ compensation insurance or wants to expand your employee benefits programs to keep your top talent committed to your company. StaffMarket.com has a complete PEO buyer’s guide that explains more.
I recommend: http://www.staffmarket.com/peo/peo-buyers-guide1.asp
Finding the right PEO for your company
Finding a PEO that is a good fit for your company can be a challenge. Each state has differing licensing and regulations for PEOs. In addition many PEOs only want certain types (and sizes) of clients due to work comp risks. StaffMarket.com has a complete listing (updated daily) of PEOs in Florida, California, Texas and all other states.
I recommend: http://www.staffmarket.com/peo/peo-list.asp
Using a PEO Consultant
Working with a consultant to find the best PEO for your company can helpful. PEOreview.com offers a service to help you find a PEO.
I recommend: http://www.peoreview.com/
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