HR Outsourcing: How to Make the Most of Your PEO
Did you know that, during the COVID-19 Pandemic, almost half of employees worked full-time remotely? Additionally, nearly half (48%) of employees will continue to work remotely after the pandemic, some of the time, at least.
If you’re thinking of using a PEO to run your company globally, something you might be wondering about is how to make the most of this HR outsourcing solution.
However, if you don’t know how to do this, you may be feeling stressed. Fortunately, we can help.
In this article, we’ll review how you can make the most of your PEO. Finally, you can use PEO services efficiently, saving both time and money. Read on to learn more.
Benefit From Their HR Expertise
When you work with a company that offers PEO services, one of the biggest benefits you get is access to their expertise. So if you’re dealing with an HR issue, you should take advantage of this benefit. There are many situations where they can help, including ones related to:
- An employee complaint
- A compliance issue
- An employment law changing
In the US, there are over 180 federal laws related to employment. Add employment laws and compliance rules and regulations on a global scale, and many issues come up that you may not know how to handle.
Fortunately, a PEO will have extensive experience and expert knowledge on these issues. So, if any of these issues come up, go to your PEO immediately. They can help you manage the situation before it gets more serious.
Have Them Handle Benefits
One of the most time-consuming tasks your HR team would ordinarily have to manage is the benefits you provide your employees. But, in addition to being time-consuming, another challenge that comes with getting the right benefits for your employees is how costly they can be.
A PEO can simplify this process and make it less expensive for you. They’ll have access to a larger amount of benefits, making it possible for you to provide more high-quality ones to your employees at a cheaper price.
You’ll be able to save money on SUI (state unemployment insurance), workers’ compensation, and group insurance.
They can also manage the benefits process for you. As a result, you’ll have more time to focus on other business tasks.
Have Them Manage Hiring and Onboarding
Another way an EPO can help you is to manage the hiring and onboarding processes. This can be especially helpful if your company is undergoing quick expansion and you’re looking to quickly expand your team globally.
They can manage advertising open job positions, reviewing a large number of global applicants, and conducting interviews.
Then, when your new employees are finally hired, they can provide you with easy staff onboarding services. This can be especially helpful if you’re hiring employees internationally.
A PEO can help you ensure that you’re following the right hiring procedures according to international labor laws and set up payments according to international tax laws and regulations.
This way, you won’t run into any legal issues related to international employment law or taxes when you hire the talent for your global team.
Have Them Manage Payroll
When you run a company, one of the tasks that take up most of your HR team’s time and effort is managing payroll. This takes a lot of effort because HR teams have to ensure they pay employees the right amount and pay them in the right way (for example, through direct deposit to the correct account).
Additionally, they have to ensure that they pay employees on time. Sometimes, they also have to make additional calculations related to taxes and overtime.
In addition to taking up a lot of time, payroll being so complex can sometimes lead to errors. This could end up leading to employee dissatisfaction or even legal issues.
This is why it’s smart to have your PEO manage payroll. They can manage all of these tasks, giving you more time to manage other business tasks.
Additionally, the PEO will be able to handle the more complicated payroll aspects that come with having a global team. For example, they can ensure that employees are paid in the currencies they prefer.
Have Them Help You With Risk Management
Another way a PEO can help you run your business is by assisting you with risk management. By getting this assistance, you can make your work environment safer than ever. One of the ways they can help is by ensuring that you have an adequate workers’ comp insurance plan in place.
They can also handle any comp claims that arise efficiently and promptly.
Your PEO can also ensure that your company is following OSHA (Occupational Safety and Health Administration) compliance.
A PEO can also provide you with access to substance abuse programs. Additionally, they can help with loss prevention. This way, it can be less likely that employee theft will occur.
Looking for an HR Outsourcing PEO Solution?
Now that you’ve learned how you can make the most out of your PEO, you might be looking for an HR outsourcing PEO solution. In this case, you should look no further than Bradford Jacobs. Without help, you can increase efficiencies, improve security, get HR assistance, and more.
We provide many services, including global employment organization, recruitment process outsourcing, contractor management, employer of record, and global PEO.
To learn more about our PEO solution, get more information now.