HR OUTSOURCING
(def.) HR
Outsourcing is a way for businesses to outsource the administrative
burden of workers comp, payroll, employee benefits and business
insurance, by contracting with a company with human resources
expertise. It’s a proven way for businesses to save the time and money
spent on these issues.
Companies all over the United States are using employee leasing for all
their human resource needs because it provides:
- Relief from the burden of employment administration.
- Assistance to improve productivity and profitability
- Improved employment practices, compliance and risk management to reduce liabilities.
- Access to a comprehensive employee benefits package, allowing clients to be competitive in the labor market.
- A wide range of personnel management solutions through a team of professionals.
PCG
will find the HR Outsourcing company that’s right for your type of
business. That company will assume your human resources
responsibilities so you can focus on running your business and growing
your bottom line.
You retain full ownership and control over the operations of your
company. The service provider and your company contractually share
employer responsibilities and liabilities. The service provider
typically assumes responsibility for administration, payroll, taxes and
benefits. You continue to have responsibility for worksite safety and
compliance.
For your employees, a PEO:
- Provides access to comprehensive benefits often previously unavailable - 401(k), Section 125 plan, comprehensive insurance benefits, Flexible Spending Plan.
- Delivers on-time and accurate payroll.
- Provides professional assistance with employment-related issues.
- Supplies easy-to-read employee handbooks, policies, procedures and practices.
- Enables more employees to receive statutory protection.
- Improves communication among and between employees.
- Offers up-to-date information on labor regulations, workers' rights and worksite safety.
- Processes claims efficiently and responsively.
- Enables employees who move from one PEO client to another to avoid loss of eligibility for benefits.
- Provides improved access to payroll information, benefits, personnel data, vacation and sick time accrual, and specialized reports.
- May offer credit union membership and banking privileges.
- Frequently offers exclusive employee discounts and rates on travel, entertainment and services.
For government, a PEO:
- Consolidates several companies' employment tax filings into one.
- Provides more professional preparation and reporting.
- Accelerates collection of taxes.
- Extends access to medical benefits to more workers.
- Provides access to 401(k) retirement savings opportunities to more employees.
- Improves the communication of government requirements and changes to small businesses and their employees.
- Reduces litigation by resolving many problems before they reach court.
- Allows government agencies to reach businesses through a single-employer entity.