This means that the PEO can provide the employees access to health coverage and rates on par with those of a large corporation, even though they work for a much smaller operation. A PEO can support remote teams in a few fundamental ways. PEOs can also keep your business informed of important federal and state labor laws that affect you if you have a remote workforce.
Secondly, a PEO connects your employees to the resources they need to stay happy and healthy in a remote work environment. For instance, Justworks provides top-quality wellness and mental health benefits through Talkspace, Classpass, and Kindbody. Offering access to these types of modern benefits helps ensure that employees feel taken care of throughout their remote work experience. Because a PEO will help you manage a lot of employment-related paperwork for you, as well as provide HR support, most companies can delay making hires to handle this in-house.
A PEO can provide employees access to health coverage and rates on par with those of a large corporation. Many start-ups and small businesses get fined every year for making payroll mistakes. And that's just for payroll! The reality is that compliance can be complicated and there is lots of paperwork to file and insurances to secure.
While you can do this on your own, you probably didn't start your company to become a compliance expert and the cost of getting things wrong can be pretty high. PEOs are experts on employment-related compliance. They know the paperwork you need to file and, in certain cases, they can file it for you. Running your own business can sometimes be a race against the clock.
There's always more to do and not enough hours in the day to get it done. If you join a PEO though, there's a lot they can take on from you when it comes to employment-related administrative work, which can often mean getting multiple hours back every day or week. It remains up to each employer to manage their team and their operations.
While they can help with any number of forms and filings, as well as support, each company still needs to be familiar with the laws applicable to their business and be responsible for compliance.
The way that a PEO makes money is by charging you to handle these services. Many companies charge per employee while others might charge a percentage of total gross payroll. At Justworks for example, our monthly fee depends on how many employees you have.
Customers often save hundreds per month by getting access to less expensive employee benefits. Like other PEOs, Justworks will help you save significantly on employee benefits, automate your payroll, and help with certain employment-related compliance.
Unlike other PEOs though, we've gone out of our way to build amazing software, with fair and transparent pricing. Our members work at fast-moving companies where they don't want to have to call somebody every time they need to add a dependent to their benefits policy, or add someone to payroll.
To service them best, we've built simple, fast, and automated software they can access online on their computer or on their phone and manage tasks as they need.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.
Justworks helps businesses with their benefits, payroll, and everything else they need to take care of their team. Monthly tips on running a business in your inbox. Thanks for subscribing! Solutions Solutions. Pricing Pricing. Companies that are very new or very small may benefit from working with a PEO, as the PEO can save the company time and effort while making sure that all essential HR functions are handled. PEOs may also be able to offer company employees more affordable health insurance and K plans than would otherwise be possible.
Companies that have been around longer or are larger may benefit from working with a HRO firm. Working with a HRO firm will allow the company to completely retain its identity and all decided upon HR functions, while receiving assistance with the desired tasks. To deliver high-quality software matches, we use your info to ask further questions or to verify your identity. By clicking the continue button above, I agree that Matchr and its approved vendors may use my information to follow up on my request.
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What you will learn in this article What is a PEO? What is HRO? What is a PEO? HRO versus PEO A HRO firm offers the advantage of being more flexible, allowing companies to pick and choose which services will be outsourced and which will be managed in-house. Which One is Right for Your Company? About the Author. Share this article!
How many employees are in your organization? United States Canada Other. About your needs Currently use:. Feature s :. Workers' compensation administration. Compliance assistance. Drug testing programs. Family and Medical Leave Act administration. Some of the disadvantages might include the following: Loss of control of essential processes and people.
An outside company's influence on your culture. Diminished value of internal HR department. Lack of control and security over employee paperwork. A loss of institutional knowledge.
Security issues with the vendor's system. Resistance from employees. You have successfully saved this page as a bookmark. OK My Bookmarks. Please confirm that you want to proceed with deleting bookmark. Delete Cancel. You have successfully removed bookmark. Delete canceled.
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