You wear a lot of hats as a small business owner—probably too many, depending on the day or time of year. From managing finances to handling HR tasks, the weight on your shoulders would make even the mightiest comic book character tremble.
What if there was a way to entirely augment your operations and gain the capabilities of a much larger company? If that sounds as fantastical as a superhero origin story, it shouldn’t. Because a Professional Employer Organization (PEO) can transform your small business and help you become the hero your company deserves. Let’s get into how it works:
Employee Benefits
Your business can’t run without talent, and a competitive employee benefits package can help you attract and retain the very best people. From comprehensive medical, dental, and vision plans to life and disability insurance, the buying power unlocked by a reputable PEO can be a game-changer in bringing Fortune 500-caliber benefits packages to your small business.
PEOs can also offer employees access to retirement savings plans like 401(k)s, complete with a variety of investment options and administrative backing to ensure compliance and regular audits. By offering comprehensive benefits packages, your small business can significantly improve its appeal in an increasingly competitive job market.
Payroll
Mastering payroll doesn’t have to be a herculean effort. By partnering with the right PEO, you can delegate a wide range of tasks: comprehensive payroll administration; federal, state, and local tax filings; and compliance with various employment laws, including the Fair Labor Standards Act.
This support extends to managing direct deposits, electronic pay stubs, and even preparing W2s, all with the aim of simplifying your responsibilities and reducing potential legal headaches. Who wouldn’t want all that time and mental energy back to focus on business growth?
If your chosen provider is more technologically inclined, the payroll benefits get even better. For example, Ethan Allen HR Services uses HR software that features self-service portals for employees, facilitating time and attendance tracking, and even PTO requests. This kind of integration ensures your payroll processes are compliant and accurate.
HR Administration & Compliance
When it comes to effortless compliance, a PEO helps with more than just payroll. You can expect the right partner to provide a robust suite of HR administration and compliance services that guide your organization through the complexities of employment law. By taking over responsibilities such as maintaining regulatory compliance, overseeing employee onboarding, and developing HR policies, a PEO can safeguard your business against legal pitfalls. From labor standards and family leave to anti-discrimination laws, your business can effectively minimize risks and promote a healthier workplace environment.
A PEO may also provide tools that streamline HR processes even further, such as digital onboarding platforms that eliminate paperwork and automate record keeping. By optimizing HR functions, a PEO lifts the heavy burden of administrative overhead and enhances employee satisfaction and retention, making your business more stable in the long run.
Safety & Risk Management
What’s more heroic than ensuring the safety of your employees? Choosing the right PEO is paramount to enhancing your safety and risk management strategies. The expert guidance and robust training programs you receive ensure your workplace remains compliant with Occupational Safety and Health Administration (OSHA) standards. By conducting regular safety audits and check-ins, you can reduce potential liabilities and foster a safe environment for your employees.
There’s a lot of sensitive information to juggle: workers’ compensation, disability claims, and unemployment claims, just for starters. A competent PEO will help you securely process all of the above—even going so far as to conduct criminal background checks and drug testing. Small businesses are now empowered with a level of risk management only seen in much larger corporations, safeguarding their operations and enhancing their overall business resilience.
Connected by Tech
We’ve alluded to how technology can augment some of the benefits mentioned above. But it gets even better. The right tech platform—like the Ethan Allen HR Cloud, for example—can condense all aspects of HR management into a single, streamlined hub. This technological framework centralizes all the critical operations we’ve discussed. The end result is a boost in efficiency that feels not unlike unlocking a superpower.
For your employees, cloud-based platforms translate to easy access to personal HR information, such as payroll details, benefit options, and leave balances, through user-friendly portals. The integration of such technology by PEOs like Ethan Allen helps businesses maintain high operational standards while focusing on growth. It’s a crucial factor in the decision-making process for small business owners looking to exponentially boost their HR capabilities.
Become the Hero Your Small Business Needs
Dust off your cape and tights—it’s time to take up your mantle as a small business hero. Partnering with a dependable sidekick like Ethan Allen HR Services makes it easy, enabling you to punch above your weight class with unparalleled capabilities.
Don’t let HR burdens or deficiencies hold you back from achieving your goals. Contact Ethan Allen HR Services today to learn more about how PEO services can help your small business grow and thrive.