Posted on 16 May 2019 by Forglobal
Many companies setting up shop abroad are using a Professional Employer Organization, or PEO. A PEO provides payroll, benefits, and HR services. It also frees up valuable time to focus on mission-critical and profitable activities, so you can focus on growing your business.
Here are 5 key reasons why you should consider partnering with a PEO abroad.
Your business may have an administrative person in charge of payroll, benefits or other HR functions. What you won’t get out of this employee is the very specific expertise that can be offered by a professional HR department or a PEO.
PEOs live and breathe HR. It is their business to keep up to speed on ever-changing employment law. Remember, a PEO shares liability with its clients. It is in their best interest to keep all of them compliant. When you partner with a PEO, you can rest assured that your business will have an updated employee handbook and the most compliant policies, procedures, and processes.
When you partner with a PEO, you gain access to the group’s buying power and can use economies of scale to offer more and sometimes better benefits. Aside from health insurance, PEOs often offer an assortment of other benefits. For example, you may opt to take advantage of short and long-term disability, life, vision, or dental insurance.
There may be times when you or your employees need a unique HR product or service. Your PEO has relationships with all types of HR vendors, allowing you to go to one place for all of your needs.
Need on-demand drug test screening? No problem! Looking for online development opportunities? they got it! You want to offer biometric screenings on site? Look no further. A good PEO develops relationships with all types of HR vendors, allowing their clients to take advantage of discount pricing.
Your employees may be your biggest asset, but each comes with unique personalities, experiences, and beliefs. This is what makes your workforce so great. But, it can also present challenges. A professional HR department will guide managers to handle situations professionally and within compliance, so your employees will be more productive.