PEO stands for Professional Employer Organization. PEOs are organizations that provide companies with a range of services to help them outsource the management of human resources, payroll, benefits and workplace safety.
The main benefit of PEOs is that they help to streamline the administrative tasks related to managing employees and provide experienced human resources and benefits advice. Businesses no longer have to hire dedicated staff to carry out payroll, manage employee benefits, or meet workplace safety requirements.
Here are a few of the services that PEOs usually provide:
• Payroll – This includes managing employee paychecks and setting up tax deductions.
• Employee Benefits – This involves negotiating the best employee benefits package with the providers and monitoring any changes in the industry.
• Human Resources – This includes providing advice on compliance with labor laws, reviewing job descriptions, and helping to create employee handbooks.
• Workplace Safety – This includes ensuring compliance with safety regulations and providing safety training for employees.
Overall, PEOs provide a great way for businesses to outsource their human resources, payroll, employee benefits and workplace safety needs. They can help streamline the administrative tasks that would otherwise require dedicated staff and provide expert advice for any changes that need to be made.