What Positive Benefit Will a Sarasota PEO Company Have on My Business?
December 5, 2017The main benefit that PEO companies like Value PEO offer is that we allow our clients to focus on managing the core parts of their business while we manage payroll administration, human resources and other employee related tasks.
The reality is that many smaller businesses find it difficult to ‘manage everything’ and are more effective and more productive when they can outsource their employee administration.
The services we provide to small and mid-sized businesses in Sarasota and throughout Florida, include:
For example, a local downtown Sarasota restaurant that employs 40 people, both full time and part time, will likely need help managing the day-to-day responsibilities of their HR. It’s just easier and more efficient knowing that a PEO firm will expertly manage the weekly payroll, deal with workers’ comp claims for accidents and properly manage issues related to the constant turnover of restaurant staff. A smaller restaurant by Ringling College of Art and Design or one on Siesta Key will have different needs.
Managing your Payroll Administration and Payroll Processing
One of the key concerns for all employers is how they properly manage their payroll. Will it be paid on time? Are paychecks accurate, in terms of payment and withheld taxes? Are local, state and federal taxes filed and paid correctly? Who is keeping an account of vacation and sick days for every employee?
It’s these details that bog down a business owner and their admin staff. Outsourcing these functions — and the responsibility that goes along with it — is a key benefits to hiring a PEO company.
Being Your Human Resource Department
For many smaller companies, human resources is considered an afterthought. If a company does not have a designated HR person, those tasks are either managed by the business owner or share among various employees. This can lead to an inefficient strategy and leave the company open to unforeseen HR issues — like unemployment claims, employee background checks and legal assistance if problems arise.
Value PEO acts as your ‘off-site HR department’ by offering consultation in a number of key areas.
Overseeing Workers’ Comp and Unemployment
While many companies won’t have to deal with work injury claims or unemployment issues, there are many business types that will. Restaurants, manufacturing companies and other ‘blue collar’ or ‘service industry’ category businesses (where employees are continually performing physical tasks) are more likely to experience these types of claims.
A PEO company will help you identify and mitigate risk upfront. They will also handle claims, administration and quick resolution…the goal being to lessen the costs associated with these claims.
Managing all Aspects of Employee Benefits Administration
One of the most important benefits your employees care about other than their salary or hourly wage is their access to affordable and comprehensive health insurance. As a business owner, shopping ‘for the best deals’ is very time-consuming and can be frustrating. Because of this, many business owners don’t shop around for better programs for themselves and their employees.
A Sarasota PEO company will work for you, assessing your businesses specific needs and then finding a health insurance program that best meets those needs. Once a plan is chosen, the PEO will communicate the plan to employees, handle enrollments and manage the questions your employees are sure to have about the plan.
The National Association of Professional Employer Organizations explains it well…
NAPEO, on their website, succinctly outlines why a business would use a PEO: Business owners want to focus their time and energy on the “business of their business” and not on the “business of employment.”
As businesses grow, most owners do not have the necessary human resource training, payroll and accounting skills, the knowledge of regulatory compliance, or the backgrounds in risk management, insurance and employee benefit programs to meet the demands of being an employer. PEOs give small-group markets access to many benefits and employment amenities they would not have otherwise.
Learn more about our Sarasota, FL PEO services
At Value PEO, our customized programs can offer tremendous cost savings when compared to the expense and frustration of self-administration. Ready to learn more about how we can help? For more information, please contact us at (888) 936-5983.
