As a professional employer organization (PEO), you offer a needed service to your clients. When they are able to outsource workers’ comp, payroll, training and employee benefits, it takes the pressure off of their company. The pressure, however, is then put on yours. Because of the risks you face, you need a proper PEO insurance policy. The following are some ways in which a policy will benefit your company:
When it comes to shopping around for insurance in VA it can be a little stressful. There are so many coverage options and insurance agencies willing to help businesses with their needs. It can be hard to know where to start. With these three tips on what to look for, however, you can find the right agency for you in no time.
PEO is the acronym for Professional Employer Organizations. This is a new and growing field that is becoming more prominent as many businesses look to cut costs by outsourcing human resources and staffing responsibilities. This co-employment with the staffing industry is set up to help them protect their assets and manage their risk exposures, thus setting up a situation where PEO insurance can be an important asset for the staffing company.
An important part of most businesses is hiring employees to help you help your customers and hopefully turn a profit. When the business grows large enough, it may become necessary to put together a human resources department to handle the hiring of customers, as well as management of payroll and benefits. When a business decides to use a professional employer organization (PEO), the duties of human resources is basically outsourced to another company. Even though it is another company that is handling the HR part of your business, you still should consider PEO insurance for the shared risks you now have.