How Outsourcing Benefits Administration Can Help Your Small Business
How can outsourcing Benefits Administration fuel success?
Outsourcing Benefits Administration helps your small business stay competitive and avoid fines. It also helps your workforce focus on money-making activities instead of activities capable of bleeding out their time and morale. Check out the biggest benefits of moving Benefits Administration off-site:
Attract Grade-A Employees
Professional Employer Organizations, or PEOs, have the buying power that small business owners cannot hope to enjoy. Instead of having 50 people on their payroll, they combine the payroll rosters of all of their clients and wind up qualifying for plans available only to organizations with tens of thousands of employees. Enrolling in such HR benefit programs opens the door to impressive insurance and investment packages.
Ability to compete in these practical ways will give you an immediate leg up in hiring. With access to such impressive benefits, you will be in a position to find employees who are very talented, experienced and more capable of increasing your profits as compared to before.
Avoid Regulatory and Tax Penalties
According to the IRS, a third of all businesses are fined every year due to payroll issues. Many companies are often unprepared to handle their growing staff numbers, or do not have the financial capacity to bring on trained, experienced HR professionals to manage the work for them. A PEO is thus perfectly suited for such situations. Our staff focuses all their attention on matters regarding benefits, resources and training.
Avoid the penalties and huge fines that businesses face when dealing with benefits without the proper knowledge. Einstein handles these issues in various ways; from training your employees to taking over the work entirely. Because benefits are one of our specialties, we are capable of helping you tune your practices in conformity with current regulations.
Enjoy Immediate Savings Through Employee Reduction
Hiring people to work in your business is expensive, and reducing the staff needed significantly reduces your costs. Add to these savings the benefits of replacing HR staff with highly qualified professionals who offer the best tools, along with the advantage of an effective one-two budget-boosting combo.
Think of all the expenses a typical employee costs your company each month:
oÂ Â Salary
oÂ Â Taxes
oÂ Â Benefits expenses
oÂ Â Unemployment insurance
oÂ Â Space and equipment allocations
oÂ Â Utility usage
If your employees are struggling to manage benefit responsibilities, you may end up with missed deadlines. Find qualified replacements and allow your unhappy employee the chance to find a better fit somewhere else. Outsourcing Benefits Administration removes the financial and psychological burden from the workplace.
Hiring through Einstein offers the following benefits:
oÂ Â Fast and accurate administration
oÂ Â Adherence to deadlines and regulatory obligations
oÂ Â Improved efficiency with the use of the industryâ€™s latest and greatest resources
Weâ€™ve got the knowledge you need at a price everyone likes. When you are looking to hire or replace HR talent, consider using Einstein in a pinch. Youâ€™ll benefit in the short-term and will have every opportunity to continue using our services for comprehensive human resource coverage.