Your business needs to be able to confidently manage its HR operations, but this can often be time-consuming and costly.
If you are the owner of a small business, the responsibilities of these HR tasks can often fall on your shoulders—whether or not you have the capacity to handle them. Enlisting the help of a Professional Employer Organization (PEO) can help free you from the burden of those tasks. A PEO partners with you to make sure that HR responsibilities such as payroll processing, compliance, employee lifecycle management and more are taken care of.
BUT BEFORE YOU DECIDE WHICH PEO TO PARTNER WITH, THERE ARE A FEW QUESTIONS YOU SHOULD ASK:
- “Which carriers do you work with?”
This is important because of the sheer number and types of healthcare coverage and networks available.
- “How many years have you been in business?”
For far too long the PEO industry has been littered with companies who didn’t have your best interest in mind. These rogue players had poor underwriting practices. You want to be able to partner with a highly-rated PEO that has a proven track record of success.
- “What is your current experience modifier?”
An experience modifier is applied to the premium of a qualifying policy and provides incentives for loss prevention. It’s important to understand what tools and incentives are being used by the PEO before agreeing to a contract with another PEO.
- “What industries make up your book of business?”
It’s important that employers get an idea of other similar businesses that your company has provided PEO services to. This will help ease employers’ minds and make them more willing to partner with you based on your past success.
Getting an answer to these questions helps give credibility to the PEO and confidence to the employer that the PEO has the bandwidth to handle your business.
One of a PEO’s greatest benefits is the confidence you gain as an employer by allowing someone else to make sure your HR tasks are handled properly. A PEO helps transfer the administrative risk of handling employees day in and day out.
A PEO helps your company remain compliant by guiding you through proper regulations and laws that you don’t have time to keep up with. Partnering with a PEO allows a business owner to focus on what matters most: your employees and your bottom line. You can focus on growing and protecting your company without having to spend valuable time and energy on these HR tasks you aren’t an expert in.
At CertiPay, our PEO offers clients the best-tailored solution for their needs. Want to find out more? Reach out to us today.