Most entrepreneurs do not get into business to become an employer. It just sort of happens. A person often just buys or starts a company with just the owner as the one and only employee. Have you experienced this?
You are good at what you do and your reputation takes off. Before you know it, you need to hire and hire more. And instead of being the guy or girl out turning the wrench, you are now managing employees, buying insurance, figuring out what these acronyms stand for… EEOC, ACA, FMLA, COBRA etc.
If this is you, it may be time to choose a PEO! Here is a quick list of reasons why the time might be now.
- Staying in compliance- One of the biggest challenges is keeping up with the ever changing government regulations. A good PEO will keep you informed and in compliance with all of the federal and state regulations. You can run your business without the worry of being out of compliance when it comes to payroll, human resources, and safety.
- Experts are a phone call away– Whether its HR, payroll, taxes, compliance, safety, insurance, employee training, background checks, 401(k) , etc an expert is only a phone call away.
- Focus– One of the PEOs I work with has the tagline 'Time to Grow.' A PEO frees a business owner up to grow and focus on his business as opposed to spending time dealing with HR, payroll, employee benefits, and compliance. When you engage the services of a PEO, you can be rest assured they are working with you to help you grow your business.
- Rising cost of Employee Benefits- By joining in with hundreds of other companies, you get to take advantage of the economy of scale. Offering health insurance, dental, life, vision, LTD, STD, and 401(k) are great ways to attract and retain good employees. A PEO can not only help manage your employee benefits program, they most likely can offer employee benefits at a rate lower than you can obtain on your own.
- Combining 4-5 services into one- A PEO is a one stop shop for all things HR, payroll, and employee benefits. Knowing things are done correctly and professionally will give you a great peace of mind.
Engaging a PEO can offer you an opportunity to focus on your business and not worry about compliance, employee benefits, HR issues, and payroll. You get an expert in all of the areas from one trusted source. To see what a PEO can do for your business, give us a call at 469-218-0073 or send us an email steve@ocihr.com.
To learn more about PEO’s and how they can be a great business partner, download a free copy of the latest OCI-HR white paper by entering your email below.