As the owner of a small business, you probably spend a significant portion of your day dealing with mundane tasks, whether they include processing payroll, dealing with absentee employees, or assessing and determining which health insurance plan to offer your employees. While these tasks take up a good deal of time, they probably aren’t indicative of the reason you launched your small business in the first place. You probably had a great idea of a product or service to offer, but have found that you don’t always have time to manage the side of your business you particularly enjoy. That’s where the Personal Employer Organization, or PEO, comes into play.
The Role of the PEO
A PEO takes many of those mundane day-to-day tasks off of your plate, allowing you to redirect your energies toward the reasons you started the company in the first place. A remote human resources department of sorts, the PEO takes on any number of tasks, from payroll and accounting duties to hiring and training new employees. Not only does hiring a PEO save you money by enabling you not to have a full-time HR department on staff, but it also eliminates liability, thus increasing your overall peace of mind.