A Professional Employer Organization is a service that sets up and manages benefits for an employer’s employees. A PEO typically offers its clients HR, payroll, workers’ compensation, employee assistance programs, and retirement plans. With so many services provided by a PEO, it cannot be easy to choose the best one for your company. Here are a few of their offerings:
- HR
The most important service a PEO offers is HR. They provide an employer with access to experienced HR professionals who can help with issues such as employee onboarding, compliance, and benefits management. In addition, the employer of record singapore can also outsource other HR tasks such as payroll, benefits, and workers’ compensation.
- Payroll
A PEO can also provide you with a payroll service. They will handle all your company’s payroll, taxes, and other related tasks for one fixed monthly price. This is great because it gives employers more time to focus on growing their business instead of dealing with the back-end responsibilities of running an HR department.
- Workers’ Compensation
PEOs can also help employers with workers’ compensation. They will work with you to find a plan that fits your budget and meets all state and federal requirements. This can be a huge relief for business owners who don’t have time to research and compare different workers’ compensation plans themselves.
Professional Employer Organizations offer several services, the five most important being HR, payroll, workers’ compensation, employee assistance programs, and retirement plans.
