No Time Left for You (or Your Business)
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Running your own business requires that you fill a number of positions. Hopefully, most of these jobs are enjoyable and contribute to the core business of your company. Unfortunately, many necessary, but tedious and time-consuming tasks will often fall to you as a last resort. In many cases, these tasks can leave you little spare time for yourself or your company.
A case in point is Human Resource management. Payroll, new hire paperwork and other HR management tasks often fall into this category. It is essential to properly administer these tasks and doing so usually requires a tremendous amount of time and energy especially if you are unfamiliar with or new to the task. Fortunately, Professional Employment Organizations (PEO) offer an excellent alternative for handling any HR task from basic payroll to complex training programs.
The PEO Difference
The core competency of PEOs is HR. They have the resources and expertise to properly and efficiently administer all your HR needs. In addition, their experience in these matters makes their services affordable.
A PEO can handle just a few or all of your HR tasks. Essentially, they can become your HR department. From day one of a new hire’s employment to their resignation or termination, a PEO can be their first point of contact for all HR information. A PEO can monitor and ensure compliance with all company and government policies regarding paperwork. In addition, they provide an objective and fair administrator of all company policies including termination.
The Real Value of a PEO
Many business owners and managers will do a simple cost-benefit analysis to determine if a PEO will cost more or less than an in-house HR solution. This analysis is valuable as a starting point but much of the real value of a PEO is somewhat intangible; intangible but with very real effects on the bottom line.
A PEO delivers better trained and more highly motivated employees. The staff at a PEO ensures that training occurs at the right time and is completed in a timely manner. This process produces more highly trained and more highly satisfied employees who do not suffer under the strain of being inadequately skilled. In addition, a PEO offers an unbiased platform for employee complaints and its objective nature eliminates many of the problems of interoffice “politics.”
On the management level, a PEO allows managers to concentrate on their own core competencies instead of more trivial matters. While many HR issues will require management input, the process is directed, managed and monitored by the PEO. Location managers must simply followed the steps and the HR process will run its course in an efficient and timely manner.
More Time Left For You
A PEO is a powerful resource for any company. You will have more time to concentrate on the business and on yourself. Properly utilized, it will save time, energy and aggravation. Employee morale will increase, fines and lawsuits will diminish and, most importantly, the bottom line will see improvement. In short, the PEO difference is that between you running your business and the business running you.