Co-employment relationships can help all “shapes and sizes” of companies in different ways. Known sometimes as Professional Employer Organizations, PEO’s consolidate all tactical HR services from on boarding to off boarding of an employee.
Some of the main services are providing an array of benefits for employees, running payroll, producing quarterly tax filings, covering workers comp on a cash flow basis, offloading of government compliance and employee risk mitigation through hands on HR support. Most of these companies will also aid with recruiting, expense reporting, training new employees and much more.
By consolidating your HR functions through a co-employment relationship, you gain access to a large employee base that is grouped together for discounted pricing on benefits and workers comp. Not only do you become more efficient in your HR department and add a layer of expertise, but you also control cost.