People are your biggest asset. Your biggest cost. And your biggest risk.
- There are specific laws that must be adhered to when hiring and firing
- Benefits are costly, especially for smaller companies
- Learning and running HR compliance, benefits and payroll is time consuming
Most businesses don’t know about professional employer organization (PEO.) These providers take away the concerns of hiring. Outsourcing to a PEO means your team works as employees of the PEO. On your behalf, they:
- Hire and fire
- Ensure legal compliance
- Streamline payroll and expenses
- Offer benefits (medical, dental, life, PTO, etc.)
- Support employers and employees
If you are considering hiring your first employee or have less than about 100 employees, strongly consider outsourcing to a PEO. Until you reach 100 to 150 people working on your team, a PEO makes good sense.
Some PEO’s you can investigate are:
- Sequoia One
Once you outgrow a PEO at around 150 people, you’ll need a good payroll provider like:
- Rippling (also offers PEO)