It may be time for your business to review its outsourcing options for HR and payroll services. You need strong HR support, especially with all the changes dictated by the ongoing COVID-19 crisis, but you may not have the HR staff to do the job. The solution is to evaluate your HR and payroll needs and consider which of these services might be performed better and with more efficiency by a Professional Employer Organization (or PEO).
Why You Should Consider HR/Payroll Outsourcing
Should you move some or all of your HR and payroll to a PEO? Here are four major benefits HR/payroll outsourcing has to offer.
Better Manage Working From Home (WFH) Employees
One of the things that the COVID-19 crisis has changed for many businesses is the increasing number of employees who are working from home. Your business has probably gone from having a handful of WFH employees to having a large number of remote workers. Is your business properly managing and providing for the HR/payroll needs of your remote workers? A PEO can make sure it is.
Ensure Compliance with Recent Legal Changes
There are always new state and federal laws to which you need to be compliant, and the ongoing COVID-19 crisis has created new compliance and policy issues. It’s tough for a company of any size, especially a Small and Midsize Business (SMB), to stay current with all these – and non-compliance can be costly. (For example, the fine for not filing a Form I-9 can run over $2,000.) By outsourcing your company’s HR/payroll operations, you relieve the burden on your internal staff and have the ease of mind that you’ll remain compliant.
Enhance Benefits for Enhanced Recruitment
Offering enhanced benefits help you attract and retain the best talent – and PEOs, such as CBR, can help you offer better benefits at a lower cost to you. Firms like CBR can negotiate rates with benefits providers that let you provide more for less.
You want to provide superior benefits and support to your employees at a cost your business can afford. Unfortunately, smaller companies do not have the same HR budget as do larger ones, which can limit the benefits and support you offer your employees. The solution, for many companies, is to outsource your HR and payroll services to a PEO. It’s a matter of efficiency; by using the services of a PEO you get the power of a larger HR team than you could afford to hire otherwise. According to a survey by the National Association of Professional Employer Organizations (NAPEO), the average company using PEO realizes a cost savings of $1,775 per employee.
Turn to CBR for Your HR/Payroll Outsourcing Needs
Creative Business Resources has been providing outsourced HR and payroll human resources to SMBs for more than 20 years. Companies like yours can leverage our size and expertise to save time and save money in your HR and payroll operations – and offer corporate-style benefits to your employees.
Contact CBR today to craft the right HR and payroll options for your company.