Determining what benefits are right for a business can be difficult. Every industry is different and this means that the specific risks facing a company will vary from one to the next. In order for you to find the best fit, you need to take a closer look at the structure of the business. With professional employer organizations, for example, there are a few key details that can help you make the right call for the future.
PEO Responsibilities and Duties
PEO services usually include most HR tasks. Duties like tax administration, benefits enrollment, and payroll fall under the services provided by most professional employment organizations. Since the jobs are usually completed by contractors instead of internal employees, figuring out which entity should be providing benefits to the employment organization representatives can be tricky. Co-employment status can complicate some matters, but it also offers a number of benefits that can be difficult to deny. Points to focus on when selecting insurance for your organization include:
- Workers’ compensation rates
- Claim processing
- Risk mitigation
Flexibility and Other Advantages
Though the structure of professional employer organizations can create certain difficulties with finding insurance, it also brings about several key advantages. The flexibility offers the chance to follow different payment models to determine which suits the needs of your company best. Plus, co-employment status lessens the loan for all parties involved. Learn more about your options to determine the right insurance fit.