Three ways a PEO can alleviate the stress of owning a small business
Running your own business can be incredibly rewarding – you wake up each day knowing that you get to do what you love with your dream team. Managing that dream team also comes with a laundry list of cumbersome but necessary tasks like hiring and firing employees, taxes, benefits administration, workers compensation, and more.
Co-employment with a Professional Employer Organization (or PEO) can be an excellent solution to alleviate these burdensome tasks and reduce risk, by transferring all or some of your organization’s human resources and payroll tasks to professionals who specialize in these areas. Here’s how working with a PEO can help reduce risk for your business:
How to Make “Out of the Box” Benefits Work
As of January 2019, the unemployment rate in the U.S. was at four percent, the lowest in more than a decade. In such a competitive landscape, it has become crucial for employers to be thoughtful and creative in their benefit offerings to attract and retain talent.
But, how creative is too creative? Unique benefits may attract some excellent employees, but they come with their own set of pros and cons. These offerings can range from new takes on traditional benefits, to lifestyle supplements, to frivolous offerings. Here are some ways you can make unique benefits work for your business:
Hiring Your First Employee
Complete These 6 Tasks Prior to Hiring Your First Employee
The decision to hire the first employee is a big one that often comes a business owner whose business has grown to the point where they need a little more assistance. While this is an exciting time – and excellent news for the company – it can also be overwhelming.
Taking on additional help should not be taken lightly. You should be aware that becoming an employer brings additional paperwork, liabilities, expenses, training time, and legal obligations once this transition has been made.
When you are ready to bring on employees, there are a few tasks that must be done in preparation to be sure your business is compliant and not subject to unnecessary liabilities.