The idea of leasing employees is an idea that began in the late 1960’s but has gained more traction today with advancements in technology. More formally, a company that leases employees would be called a Professional Employer Organization (PEO). They engage in a practice called co-employment. The main upside to engaging with a PEO company is that you get access to a knowledgeable employee who specializes in the various processes of your business, but you only pay for the hours that you need. This process provides business owners with the flexibility they need to get everything done while simultaneously saving money, so they can grow their business.
Some of the most common tasks that a PEO company will facilitate are employee relations and administrative tasks. Many PEO’s can conduct hiring processes for companies and even be responsible for firing employees. When you work with a PEO, many of the company responsibilities become shared, so communication is paramount.
To keep up with payroll and human resource management, a business executive may have to delegate up to 40 percent of their day having to deal with tasks such as payroll, employee benefits as well as basic human resource management. With more than 700 PEO companies located in the U.S, there is no shortage of options when trying to find the right company to outsource to. Many companies even offer the ability to help manage your business remotely, meaning a PEO company could be out of state and still be helping you run your business.
When to Hire
The question of when your business needs to hire a PEO can vary. As a rule of thumb, the best time is when you feel that administrative tasks are taking over. If you are unable to focus on what you are an expert in, it’s time for a change. Each industry and business is different, therefore as a business owner, you truly must gauge the challenges you are having in your business.
We Are Here to Help!
Companies such as us, The Project Pros, is a perfect example of a PEO company! We are ready to help you with all your administrative needs. Our goal is to provide you exemplary service, in all aspects of your business. We cover administrative services, employee relations, phones and scheduling, social media, and the list goes on and on! Even just having an extra few hours a week where you don’t have to worry about doing specific tasks can help lessen your work load! To learn more, contact The Project Pros today at: 480-787-5700 or visit us at: www.projectprosaz.com