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What is a PEO?
How can using a PEO help your business?
A PEO is a Professional Employer Organization, also referred to as an staff leasing company. The PEO concept is simple - by allowing the PEO to establish a co-employment relationship with your workers, employer responsibilities can be shared between you and the PEO. You focus on growing your business and most importantly, increasing revenue. The PEO, on the other hand, takes care of the non-revenue producing areas of your business, including:
Payroll Administration
Payroll administration is a basic function of a PEO and the one most commonly associated with a staff leasing company. This function includes the following:
- Support for hourly, salary, tipped and piece-work employees
- A variety of payment methods, including payroll check, direct deposit and, in some cases, a debit card arrangement
- Payroll input methods via phone, fax, Internet (not all PEOs offer this service)
- Filing local, state and federal government paperwork (W2s, W4s, FICA, etc)
- Tax Reporting and Compliance
- Certified Payroll, Job Costing and Departmental Billing
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