If your company is in need of human resource support, consider a PEO service. A professional employer organization (PEO) is a firm that small or medium-sized businesses can outsource to provide human resource-related services, such as managing payroll and other administrative functions. A PEO company will take the place of an internal human resources department and handle your HR, payroll, and employee benefits.
How Does a PEO Work?
PEO companies work by subcontracting your employees through a co-employment agreement. The co-employment agreement is a contract between yourself and the PEO company where the PEO shares the employer’s responsibilities. By partnering with a PEO service, your company can leverage the help and services that the PEO company can offer, such as payroll administration, HR support, and tax filing.
Sites like quicksprout can help you find a PEO service, but below are five of the best companies to support human resource for your business:
1. Paychex
A substantial benefit administration company that offers human resource support is Paycheck. Paycheck offers benefit administration, payroll, and human resource provider. Paycheck offers two services through their company, such as standard PEO services and PEO plus, these services provide clients with full services hands-on human resource support. Clients of Paychex, have options to mix-and-match payroll packages, access to crucial human resource processes, talent management, and record management.
2. Oasis Outsourcing
Oasis Outsourcing is a PEO service that offers significant support to businesses, including benefits administration, payroll processing, risk management, and human resources. Oasis Outsourcing supports human resource solutions, worker’s compensation, employee benefits, growth strategies, and payroll administration. Oasis Outsourcing is a beneficial support service for startups or small businesses that employs at least five employees. Through the co-employment agreement with Oasis Outsourcing, companies have access to human resource outsourcing, employee benefits administration, and payroll.
3. Insperity
Another PEO service that provides human resource support to small or medium-sized businesses is Insperity. Insperity offers personalized coverage and comprehensive service options to its clients. Through a co-employment agreement with Insperity, your company gains access to 3,000 training resources, and additional services, including payroll processing, benefit administration, risk management, and human resource solutions. Through a contract with Insperity, your business gains extensive human resource services, workers compensation, payroll, employee onboarding, human capital management, workforce optimization, and government compliance. Insperity can offer the support for human resources and help your business grow and run efficiently.
4. TriNet
Trinet offers flexibility for the small businesses it works for, including no long-term contracts and being able to cancel services with a 30-day notice. TriNet is a good PEO company that offers a variety of services, such as human resources support, worker’s compensation, employee benefits, payroll, retirement plans, employee onboarding, and 401 (k) options. TriNet has experts in HR, compliance, and payroll benefits that your businesses can use. The payroll systems that TriNet uses are user-friendly and easy access to specialists for questions.
5. ADP TotalSource
ADP TotalSource helps small or medium-sized businesses with their human capital management and payroll needs. ADP TotalSource is known for its ability to help businesses by offering services in payroll, risk management, benefits, and human resource outsourcing. ADP TotalSource is known for its excellent reputation for employee self-service, customer service, and human resource services. When you enter into a co-employment agreement with ADP TotalSource, your business gains access to specialized consultants and human resource experts.
Benefits of Using a PEO Service
The five PEO companies above offer several advantages to employers and their employees. They provide human resource supports and provide affordable health insurance benefits. PEO companies provide administrative services, manage human resource functions, payroll tax regulations, unemployment insurance, and worker’s compensation.
Businesses that utilize the help of a PEO company are a small or medium-sized business that needs the support of human resources, compliance, payroll administration, risk mitigation, and lots more services. These businesses are typically small or medium businesses that have under 100 employees. Still, at least five to 50 employees, these businesses are not large enough to support their own internal human resources department.
If your business is struggling with human resource functions, such as payroll, or compliance, one of these PEO companies listed above can help with supporting your human resources and administrative tasks needs. By entering into a co-employment agreement, a business gets the support they need and can focus their energy on growing their business.