When it comes to making sure your company runs as smoothly as possible, you don’t want to take any chances. Sure, you can manage how your employees interact with one another and keep your customers happy, but what about what goes on behind the scenes? Who takes care of you while you take care of your company?
This is where a PEO comes in. If you aren’t familiar, PEO is an acronym for a professional employer organization. In short, this means it is a company you hire to assist with your, workers compensation, human resource and benefits needs.
To find out more about what a PEO is and why it is important to your business, read below!
What is a PEO Company?
At first, the thought of working with a PEO may sound messy or complicated. However, it doesn’t have to be. All you are doing is allowing an outside company to come in and maintain much of the pesky paperwork and time-draining tasks which take you away from focusing on how to help your company reach its full potential.
Services offered by a PEO include:
- Payroll Services
- Risk Management
- Worker’s Compensation
- Human Resources
- Employee & Employer Benefits
- Administrative Services
- Business and Personal Insurance
The professional employer organization will also take on the role of being the one who monitors all changes related to human resources in your industry. This includes staying on top of any new laws, regulations, and compliance regulations to help you avoid legality issues or scrutiny.
The time and knowledge these tasks take alone will cover any cost or fees you may pay when you choose to work with a PEO.
What is a PEO Company’s Co-Employment Model?
When you choose to work with a PEO, you are electing to adopt a co-employment model for your business, also known as a “shared responsibility” model. Don’t worry! This doesn’t take away any power from you, the business owner. It just means you are agreeing to allow a company such as INVO PEO to take over responsibilities for some of the more tedious office work, including payroll, health benefits, and workers compensation.
The biggest benefit associated with the co-employment model is you will now have access to services you may not already be able to offer your employees, such as high-quality health insurance. For many smaller companies, providing health coverage is extremely expensive.
However, by pairing with a larger company such as INVO PEO to take over this responsibility, you will now have access to this coverage, as well as other benefits larger businesses can offer.
In the long run, this will make your employees happier because they will not have to pay such high premiums out of pocket. It will also improve your workforce because your employees can now access affordable preventative health coverage.
Why Choose INVO PEO As Your PEO Company?
As we have mentioned, working with a professional employer organization is an incredible way to save you time in terms of managing your business, and, as you know, time equals money. This means for every minute you save by not having to worry about HR and payroll for your company, you earn extra time you can use to follow up on leads, research potential areas for growth, or focus on building your already successful business. You can even use this time to take a vacation or spend time with your loved ones to increase your own personal growth and happiness.
How you spend your time is up to you. All that matters is you have those precious moments back to spend however you like.
The reason we suggest you partner with us as your trusted professional employer organization is that we are one of the most trusted agencies in the industry. Not only do we offer over 200 years of combined experience, we are also well-versed in all the industries’ regulations and requirements across the country. Further, we are equipped to work with businesses of all shapes and sizes. There is no company too big or too small for us to help.
We are proud members of the National Association of Professional Employer Organizations (NAPEO). With this membership, we have the ability to expand our services to include a broad network of industry peers to ensure both you and we stay up to date on all industry trends and issues.