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2. A Professional Employment Organization, or PEO Consulting
Services, offers employee management and administrative
assistance. In other words, on behalf of a client company, it acts as
the legal employer of a workforce.
Large corporations, small to medium-sized businesses (SMEs), start-
ups, educational institutions, and individual contractors and
freelancers can benefit from using the Best PEO for Your
Business. Client companies can significantly reduce employment
costs by partnering with a PEO because a specialist PEO Consulting
Services can frequently provide services more efficiently than the
client company.
A written agreement between the PEO and the client company will
determine the PEO's responsibilities. Frequently, this agreement will
include:
3. 1. Payroll administration is a job that requires a lot of time and
2. Tax compliance and essential taxes (such as payroll taxes).
3. Administration of employee benefits (e.g. health insurance, workers'
compensation, retirement plans).
4. Administration of Human Resources (HR).
Understanding the co-employment model
When you join a PEO, you enter into a business relationship known as "co-
employment."
The co-employment relationship is a legally binding contract between you (the
client company) and the PEO that divides and distributes your employer
responsibilities.
Misconceptions Regarding PEO Services
Because of the uniqueness of the co-employment agreement they enter into with
clients, there may be a few misconceptions about PEOs. So, let's clarify what PEOs
don't do to help you decide if it's a viable option for your company.
4. PEOs do not have control over your company.
PEO is your co-employer only for the purposes specified in your
contract (e.g., paying your employees and the other HR
responsibilities)
PEOs provide access to HR consultants who can provide help and
direction when needed.
They help manage your company's employee-related administration
and threats, but you keep complete control over the business and all
operational decisions.
A PEO will not replace internal HR staff.
PEOs collaborate with your company's existing HR department or
staff to provide complementary expertise, such as help in enforcing
workplace policies and changing company culture.
5. Don't disrupt your workplace.
When you become a PEO client, your existing employees will face
little to no disruption.
They'll notice the PEO's name on their paychecks, but they'll be
most interested in how their benefits package upgraded because of
your involvement with a PEO.
The Best PEO for your business will increase employee
management, address conflict effectively, and offer various industry-
standard compensation programs. PEOBroker will help to solve your
unique business problems and achieve your business goals.