Human Resources Outsourcing – Is A PEO What You’ve Been Looking For?Have you, like thousands of small and mid-sized business owners, found that human resources responsibilities consistently outweigh your ability to keep up? Have you found that a software solution doesn’t feel like the perfect fit? Perhaps “outsourcing” keeps presenting itself as an option that looks increasingly preferable to expanding your HR operation. And while you’ve discovered you could utilize the services of multiple specialty vendors, you don’t relish the thought of forging relationships with multiple organizations to handle the growing needs. What should you look for in selecting the right source for your HR support? Let’s say you’ve decided you need a single solution rather than a company that specializes in a single area of HR management - just payroll, or benefits, or 401K management. What you may want is a Professional Employer Organization. Deciding on a PEO allows you to partner with a company dedicated to managing all the needs your HR department faces. Such a provider solves current challenges along with potential, future concerns. PEOs have become the solution for thousands of nationwide businesses because of the range of services they offer. Because human resources is their business, these PEOs enable small and mid-sized companies to offer otherwise unavailable benefits. Such partnerships enable offering of insurance policies, flexible spending accounts, savings plans… even educational assistance. PEOs also offer payroll and tax management, worker’s comp solutions, and compliance of the maze of often overwhelming regulations. Because it’s their business to stay on top of all aspects of the HR industry, you can focus greater resources on your business itself. You now face the decision of choosing the right PEO. You’ll want to consider Employer Services Assurance Corporation-certified providers. The ESAC is “an independent, non-profit organization administering accreditation to the PEO industry to verify compliance with government regulations and important industry standards.” Having factored ESAC certification into your choice, geography can play a part. Choosing a regional PEO personalizes service – face-to-face interactions are sometimes preferable to a small business. Conversely, if you’re concerned with selecting the most qualified or well-established PEO, consider a national company. Not restricting yourself geographically allows you to be more selective in your identification of the company that will soon co-employ your valuable workers. Having made the decision to outsource, you’ve joined thousands of other businesses concluding that it’s the right thing for their employees. Wading through throngs of PEOs seeking your business, keep in mind that you have choices. Use all available resources. Not only can the Internet allow you to identify hundreds of PEOs, but you can speak with other similarly-sized businesses who have chosen this route. Use references liberally. And with an accreditation body such as the ESAC in place, that service, alone, will help get you well on your way to selecting the right company for your needs. If you’ve gotten this far in the decision that outsourcing is right for you, these options will ensure the provider who is the right match for your company is right |