As either a new business owner or a seasoned one, there can come a time when you realize your business needs a PEO. You started your business because you are passionate about what you do, and you want to spend time doing what you love. You don’t want to become bogged down with the paperwork of running the business. That is what PEO’s are for. Here are 5 signs your business needs a PEO.
You become surprised by incomplete employee paperwork
With a growing business, you’re hiring new employees, maybe even several at the same time. What happens if one or more doesn’t fill out the paperwork properly? That can cause big headaches down the line for both you and them.
An employee misses out on benefits enrollment
Yes, it is the responsibility of the employee to fill out their benefits package, but with the power of a PEO on your side, this is less likely to happen. And, if the employee is overwhelmed, or doesn’t understand their benefits, the PEO is there to help explain their options to them.
Holes in your paper trail
Any good business owner keeps great records. If record keeping isn’t your strong suit, you are in need of a PEO to keep things straight for you. The more your company grows, the more important this becomes.
Payroll is becoming too time consuming
There are so many aspects of payroll to consider, from taxes, to 401K deductions. How do you know they’re being reported accurately and on time?
Competing for top talent
To compete in today’s market for top talent, you need a competitive benefits package, guidance, recruitment, retirement package, training and much more.
A great PEO can give a small business the allure of a larger company. This can be a critical hiring point to potential employees. If you want to find out more about outsourcing your HR, and to find out what a PEO can do for your small business, contact Howard Employee Services today!