Whether you’re a large or small business, it can be a constant battle to keep up with administrative tasks on top of the day-to-day activities you already perform. You’re known for your products and services, not for the boilerplate items that go on behind the scenes.
Still, in order to get quality results from your employees, they need to get paid on time, and they need a resource to go to when they have questions about benefits and health coverage. If you’re thinking, “It’d be nice if there were a way to outsource these ever-present crucial duties,” then you could benefit from a PEO partnership.
A PEO (professional employer organization) is a third-party entity that works alongside your business to handle payroll services, employee compliance, and other human resource duties based upon your unique needs. Essentially, employees can direct their HR questions to a PEO so that you can focus on the meat and potatoes of your business operations.
Health benefits can also be administered by PEOs, and with the open enrollment period nearing, it’s smart to consider delegating these duties to an experienced employment firm like TAC. When your employees know that their employer cares for their well-being, they’re more likely to show up as the best versions of themselves.
PEO benefit plans offer great coverage at competitive rates, and can be customized to include medical, dental, vision, and other supplemental products. Partnering with a PEO like TAC makes it far less risky and less expensive for small and medium sized businesses to manage benefit insurance. Often, these savings are passed down to your employees, who will enjoy competitive rates for health benefits.
PEOs also offer multiple employer 401k plans that allow you to make key customizations to fit the needs of your company. Additionally, it shifts the administrative burden and fiduciary liability to the PEO.
The Applied Companies works closely with each client to develop a customized plan designed to meet the business goals and needs of your employees based on honest and ethical human resource solutions. Reach out to our knowledgeable staff for more information regarding PEO agreement options. We look forward to partnering with your company!