One of the ways that Einstein HR can help growing companies provide high-quality HR solutions is by acting as a PEO, or Professional Employer Organization. When you join up with a PEO, your companyâ€™s employees become legal employees of the PEO. This is called the co-employment relationship, and some business owners may find it worrisome.
However, you remain an employer of record and are still in charge of your employees when you work with a PEO. The co-employment arrangement is simply a way for the PEO to legally access, manage, and provide services like employee benefits and payroll administration.
A Co-Employment Arrangement Can Provide Your Business With Better Services
Business owners use PEOs for a variety of reasons and to meet a variety of needs within their company. In short, having a PEO perform human resource services for your business can save you both time and money.
When you use a PEO, you no longer have to worry about handling HR services. Instead, you can focus on growing your business, attracting clients, and increasing your profit margin.
When you use a PEO, you often pay less than you would if you used an in-house HR staff. Plus, your employees have access to a wider, cheaper pool of higher-quality benefits.
At Einstein HR, we offer expertise in a full array of HR services that you can use when engaging with us as a PEO.
As a PEO, Einstein HR can handle all of your payroll needs. This includes services like monitoring wage garnishment and dealing with direct deposits of employeesâ€™ pay stubs.
Employee Benefits Management
Einstein HR works with a variety of businesses with as few as five employees all the way up to more than 500 employees. This gives us a large pool of employees, lowering overall costs of benefits packages and providing access to higher-tier benefits than companies can provide on their own.
Einstein HR can provide your company with premium workersâ€™ compensation insurance as well as handling policies and procedures in the workplace to lower your risk and increase safety among your staff.
Legal Compliance Services
When you sign a co-employment agreement with Einstein HR as a PEO, you can have access to our decades of experience helping companies ensure compliance with local and federal labor regulations. This can reduce your overall risk and save you time and money by preventing costly errors.
Outsourcing Your HR Needs to Einstein HR
There are a host of other services that companies require, and Einstein HR is here to help. Our HR outsourcing services include the entire work of an in-house HR department. Alternatively, we offer an a la carte system in which you can select only a few services that you need for your company.
Outsourcing all of your HR needs is often the better deal, as it is less expensive than hiring an in-house staff, but each business has unique needs. Services from which you can choose include:
- New hire and onboarding/training services
- Development of health and safety programs
- Ongoing employee support
- Employee self-service portals
- Employee recruitment assistance
No matter what your HR needs are, Einstein HR can help. We also provide our clients with easy access to important employee-related information and scheduling software through our HR Online platform.
Using Co-Employment to Boost Your Business
Co-employment arrangements are often crucial for new and smaller businesses. By having a PEO handle your HR needs, you set your business up to have decades of experience right from the outset. Plus, co-employment reduces your initial start-up costs by precluding the hiring of an in-house HR staff and lowering the cost of providing employee benefits.
Some employers may be wary of co-employment arrangement, fearing increased risks or liabilities. However, in reality there are no risks involved with co-employment. You still retain control of your business and are still in charge of hiring or releasing employees. The co-employment arrangement merely allows the PEO to be legally recognized as a second employer of record who can perform employee-related services in an official capacity.
Speak With the PEO Professionals Today
If you are just opening your new business, or are the owner of a small-to-mid-sized business, outsourcing your HR needs to a PEO can be of great benefit. It can allow you access to the same level of services as larger companies and corporations at a fraction of the cost, and it can free you up to pursue the real issues surrounding your company.
Einstein HR has decades of experience helping companies grow and thrive. We have won several awards for the quality of our services, and we use our expertise to anticipate and solve the needs of your company. Fill out the form on our contact page today for a FREE, no-obligation quote and one of our representatives will respond to your request within 24 to 48 hours.
Related Frequently Asked Questions
- How Can A PEO Help With Establishing An Anti-Harassment Policy?
- What Business Needs Can Be Met By Outsourcing to Einstein HR?
- What Recruiting Tools Can a PEO Offer My Business?
- With Co-Employment, Is Your Company Still The Employer Of Record?
- Do Your Business Payroll Checks Change With Co-Employment