Unsure of what PEO means? PEO stands for Professional Employer Organization. PEO’s are built to support your employee benefits, HR, and Payroll functions. Payroll, benefits, HR, and compliance all in one place.
What exactly is a Professional Employer Organization?
These are firms that provide services where employers can outsource their employee management functions. These include employee benefits management, payroll, workers compensation, recruiting, risk/safety management, HR training and development, and more.
Compliance is key - your PEO can help you with all compliance related matters and ensure your business meets such needs in your state, across state lines, and internationally. Never fall out of regulation by keeping a PEO affiliated with your company.
There are over 700 of these types of companies in existence within the United States, alone, and the services facilitate over 3 million employees.
How to pick a Professional Employer Organization?
The focus on immediate access, full control, and complete visibility is essential to today’s evolving small and medium-sized businesses owners. Business owners want the same level of access that they have for their financials in other areas including employee management and benefits.
One size does not fit all. Some companies will sell you on their services at a fixed price - regardless of the size of your company. That is just not fair! Find a company that offers scale pricing based on your current size and where you expect to be at a certain point down the line. To ensure that the company your pursuing offers all the services you need upfront and has the specific partnerships needed to work with your current operations.
There is a company named Justworks that utilizes a custom platform to facilitate all of the services expected from a PEO.
Their online cloud-based platform allows for automated payroll, payment to vendors and contracts, direct integration with Xero, Quickbooks Desktop, and QBO. Extending beyond payment based services - HR tools will manage PTO (paid time off), onboarding of new employees, storage of important documentation, and ability to create different user permission sets.
What makes Justworks special?
Justworks has an employee dashboard that allows employees to manage their personal benefits without having to speak to any managers. Within the platform, employees can see their time off allotment, schedule or request time off, enroll in benefits and perks directly, review their own payments, and see the company calendar.
Outsourcing is Efficient
Outsourcing has evolved over past years into essentially business partnerships. Your outsourced services are provided by companies that want to see you succeed just as much as your own employees and owners do. You should look for this trait in all areas of outsourced solutions. Any external company brought on to assist with your business success should know your business, be willing to learn your business, and most of all, add value and solutions to your current operations.
Bookkeeper360 has found that Justworks is one company in the PEO spectrum that shares in this outlook in both, culture and mission, and felt obliged to share their company with our readership.