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Five Things NOT to do When Starting a Home Business
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Outsource it to a PEO.. And watch your business profits skyrocket!
Outsource It to a PEO! And watch your small business profits skyrocket.
Entrepreneurs know that starting and running a successful business is hard work. They also know that growing a small business is like a marathon - long, time-consuming and grueling.
However, what many entrepreneurs don't expect is that the experience can be like a hurdling event. These hurdles often appear as endless administrative forms, tax reports, and compliance with ever-changing workplace regulations. As the race continues, the obstacles get taller, especially in administering benefits and competing with large companies to recruit and retain talented employees. Before long, many entrepreneurs are unable to concentrate on the business, and they lose speed. Consequently, a growing number of business owners are turning to Professional
Employment Organizations (P.E.O.s) to remove these hurdles.
P.E.O.s were born out of the frustration many small business owners experience when administrative work inhibits the ability to grow an organization. To overcome that challenge, a business and a P.E.O. enter into what is called a "co-employer" relationship with the existing employees, enabling the P.E.O. to serve as the business off-site human resources department.
According to the National Association of Professional Employer Organizations (NAPEO) (www.napeo.org), there are three principal reasons why the P.E.O. industry continues to grow rapidly. Chief among them is the increase in the number and complexity of workplace regulations (there are currently estimated to be more than 4,000 local, state and federal employment regulations).
The second underlying factor stems from the need of business owners to attract and retain superior talent in a competitive labor market. For example, with a full-service P.E.O., employees at small and medium sized businesses have access to big company health plans, an employee assistance plan (EAP), a credit-union, educational assistance, a 401K plan, and other employee benefits that previously may have been unavailable.
Third, business owners seeking to control their operating costs are turning to P.E.O.s to help them better manage administrative expenses.
P.E.O.s offer a variety of services. On a basic level, most P.E.O.s assume responsibility for business payroll and related tax filings, unemployment and workers compensation claims, employer regulatory compliance, and for providing basic benefits such as a 401K plan and health insurance.
In addition to these core services, more advanced P.E.O.s can provide human resources support covering employee hand-book and policy development, employee counseling, training, recruiting, selection and performance appraisal assistance. Of course, owners still make the strategic business decisions and can delegate various human resources projects to the P.E.O. on an as-needed
basis.
Importantly, P.E.O.s also offer business owners the opportunity to reduce employment liability exposure. Under this arrangement, a client company transfers many of its employer-related liabilities to the P.E.O.. Other liabilities are shared. With those that are left, the P.E.O. can provide resources such as safety consultants and human resource specialists to provide the back-up needed to further reduce a client companys exposure.
At the most sophisticated level, full-service P.E.O.s provide entrepreneurs with other vital employment resources, including productivity-based training courses, an expanding array of online support services, and access to a network of best-of-class service providers that can help them achieve goals more efficiently and effectively.
The result is win-win. Employees value the opportunity to grow professionally while the business benefits from increased productivity.
Currently, there are over 3,000 P.E.O.s nationwide. Each P.E.O. has something unique to offer their clients. It is a fact that no one P.E.O. could ever hope to fulfill the requirements of the extensive number of businesses, the millions of employees and the diversity of their needs. So the questions becomes, how do you find the right P.E.O. for your personal business needs? After intense research into this subject, a totally new concept has been created for the
P.E.O. industry. A FREE referral service offered by a professional consultant for all small business owners in the United States and Canada.
"Businesses, large and small, have discovered a new way to drastically reduce payroll expenses, limit liability and offer better employee health plans at less cost" states Robert Speer, Executive V.P. of sales and marketing ( Mr. Speer is co-founder of the Home Shopping Network) of P.E.O. Brokerage Inc.. We find it is far easier to comply with our clients needs if we're not limiting ourselves to just one P.E.O.. So we developed a P.E.O. network of the top 100+ A or AA rated P.E.O.s in the nation.
It's now fast, easy and free (not to mention a painless transition and cost effective), to place small businesses of all catagories with a P.E.O. service that can fulfill all of your current needs;
state compliance, taxes, insurance, workmans compensation., etc. that will be satisfying to you and your company.
As Mr. Speer heads out the door to a board meeting, he left us to ponder the following quip...
Are PEOs the reason why your competitors are kicking your tail when it comes to being competitive?
It just could be. Think about it...
For your free referral service information, contact:
Steve Hartung, consultant.
P.E.O. Brokerage Inc..
http://www.saveonpayroll.com
(Secure site: use ID: 001025 to enter site.)
lowcost@bouldernews.infi.net
About the Author
Consultant.
PEO Brokerage Inc..
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