Lower wages and decreased regulation can make outsourcing seem appealing to companies trying to cut costs while maintaining quality and services.
PEO Benefits of Employee Leasing Employee leasing offers business owners the unique opportunity to lighten their workload while reducing costs at the same time.
And best of all you can save money doing it. Basically, a PEO is a company that specializes in handling human resources issues.
They offer a comprehensive list of services to potential clients, who have the option to choose one or many of the services.
These services range from payroll management, to employee recruiting and hiring, to government compliance management. Also, they have more buying power than the average business, so they are able to negotiate for better rates as far as insurance and employee benefits go.
Below you will find a detailed explanation of all the benefits you can receive by hiring a PEO. Reduced Liability One of the biggest benefits that a PEO can offer you is reduced liability and risk.
When you work with a PEO, they absorb some or all of your business-related liabilities. Every PEO is different, and the liabilities that they will take responsibility for varies depending on what services you use them for. Financial Savings Another big benefit of working with a PEO is the financial savings often found when partnering.
The savings may pertain to specific services the PEO offers or to the entire offering all together.
Often companies will find savings when comparing their medical premiums to those of the PEO. Every PEO has different terms concerning benefits, so be sure to go over that before finalizing anything. More Time for What Matters As a business owner, there is plenty on your plate.
You have to ensure there is a steady supply of your product, and a steady demand for it as well. You have to manage your employees, create new products, deal with unsatisfied customers, and much more.
For many business owners, that free time will be invested right back into the business, to create new products, or spearhead new marketing campaigns, etc. For others, that free time will be happily enjoyed with family or friends.
It all depends on your situation, but most people would agree, we could all use some more free time!Employee leasing is an original term used by the Professional Employer Organization (PEO) industry describing a contractual arrangement created between a leasing company or PEO and a client.
Employee leasing is not simply outsourcing your HR or payroll department. Oftentimes, small to medium sized businesses don’t have the luxury of ‘departments’ to handle these imperative HR functions.
Personnel Resources, one of the top employee leasing companies in AL and MN, helps companies outsource their HR and back office responsibilities.
Apply Now Employee Portal Like us on Facebook. Employee leasing is a form of HR outsourcing in which an employee leasing company becomes a co-employer of your workforce. For companies that are dedicating excessive time and energy to administrative and legal human resources (HR) processes, or for those without a dedicated HR department, employee leasing through a Professional Employer.
Business outsourcing is a widely known compelling strategic management option several companies are adopting nowadays. From small to large scale establishments, they have been using it to continually maintain their stable status in today's overly competitive market.
Outsourcing. Outsourcing is a term developed in business when a company decides to eliminate internal staff or a department that previously handled a specific function, such as a call center, human resources, shipping, payroll or accounting.