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What are the benefits of employee leasing?
I've heard employee leasing is a good option for businesses without dedicated HR professionals, but I'm still wary of signing on with a PEO. What are some of the benefits my SMB will enjoy if I decide to go the employee-leasing route?
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2 Answers
Chad, Any business owner can increase the odds of having a successful long term relationship with an employee leasing company or professional employer organization by doing their homework.
Identify what services are important to you now and in the future. Set a budget for what you are willing to spend. Make sure you obtain an unbundled proposal where the providers fees and charges for each service is spelled out in writing.
The link below will help you with your evaluation process.
http://www.focus.com/ugr/research/human-resources/four-ps-hro-and-peo-evaluat...
Good Luck.
Bruce Silver
Employers Rx LLC
The CURE for your employee management headaches
First, let's not confuse employee leasing with PEO. Some will argue that this is just symantics, but there is a big difference in services and professionalism between the two.
Also, PEO is a good option for companies WITH a dedicated HR professional, but more-so those companies without.
Here are a short laundry list of the benefits of PEO:
1. Less expensive health and other benefit rates (due to immediate economies of scale)
2. Less expensive workers compensation insurance and administration of a risk management program
3. Less administrative headaches, especially for those companies that do choose to offer and maintain a benefits package for their employees
4. Lower turnover rates - thanks mainly to a competitive benefits package
5. HR consultation services and web-based HRIS
Best of luck in your decision process, feel free to call or email HROplus if you are interested in obtaining a full proposal for services (we have a network of more than 200 providers nationwide).
Kristian Svindland
kris@hroplus.com
Owner, HROplus
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