To put it simply, outsourcing is the best way to experience hassle-free HR.
Handling human resources is especially difficult for small and mid-sized businesses. They have to handle all the paperwork, regulations, and costs that huge corporations do, but with fewer people and fewer resources.
Fortunately, these smaller firms can outsource their HR functions to a Professional Employer Organization, or PEO.
What Happens When I Outsource?
A PEO serves as the employer of record for its clients. When you partner with us, handling all aspects of human resources—such as complete payroll processing, workers' compensation, employee benefits packages, regulatory reporting, onboarding, separations, and so on- become our concern. You’ll receive additional assistance in reducing exposure, creating improved policies and procedures and safety programs.
Benefits For You
Bringing StaffScapes on as a partner will allow you to do the following:
When you partner with a PEO, you receive a number of services that reduce your exposure:
- Help with policies, procedures, training, and regulatory compliance, which will help you avoid lawsuits, as well as fines and other government enforcement actions.
- Putting robust background check and employment verification procedures in place through your PEO reduces your risk in the legal, security and physical safety spheres.
- Using a single secure portal for personal data and payroll protects your employees from identity theft.
- Bureau of Labor Statistics (BLS) data shows that businesses in a partnership with a PEO are 50% less likely to go out of business.
Reduce Turnover with Better Benefits
Partnering with a PEO gives smaller businesses access to improved benefit packages. This makes it easier to recruit the best employees and makes them less likely to leave once they are hired. Perhaps that’s why BLS statistics show businesses who partner with a PEO have 10-14% lower turnover than their industry’s average.
When all your HR functions are outsourced, you’ll simply need to devote fewer resources to them, making your operation leaner. It not only means that you’ll spend fewer hours on paperwork, but you also won’t have to deal with costs such as payroll processing software and the time and expense of selecting and upgrading it. Instead, the HR experts at your PEO will make those choices, pay those costs, etc.
When you have fewer liabilities, less turnover, more time and greater efficiency, you’ll be in a prime position for growth. That’s why, according to the BLS, companies that partner with PEO’s grow 7-9% faster.
Instead of dealing with frequent HR issues and decisions, you and your management team will be able to devote more of your time and energy to leading your workforce and making your company a success.