With the modernisation of business comes many different working models. Depending on the type of company you run, different ways of employing and managing staff and workforces may work better for you. Likewise, different working models may also be preferred by your employees themselves, as this can offer them more for their efforts than you might be able to provide on your own.
In addition to this, the working models of your company may not always be based within your company itself. You can outsource some of the work that, again, provides more benefits to either yourself or your employees.
Many companies claim to use this, but what does PEO stand for? The answer is Professional Employer Organisations. It allows companies to outsource their payroll and administration of employees to a broker, who will deal with all these. At times, the running of employee legal benefits, or coverage, may also be included. This can help companies focus on their actual business, rather than the working models related to employee management.
In regard to employee recruitment, companies that use PEO services may also have a hands-off approach when it comes to the interviewing and hiring of the new staff members, which will also be handled by the PEO services.
Alternatively, you may only want to outsource the administrative aspects of your company. This means that your employees will still be solely yours, but any paperwork relating to them will be dealt with by the external company. They will not be classed as employers of any kind, so any employment decisions will be down to solely yourself.
They will, however, still manage other aspects, such as payroll and legal documentation, on your behalf. Their usefulness is in taking the work off of you, so that you have more time, without being able to make actual, employer-related decisions for you.
Some companies choose not to outsource any of the aspects of their business, instead doing it all within the company. This might involve employing several individuals to fulfil roles based in human resources, accounts, and even administration to ensure that all recruitment processes, aspects of paying both your employees and any other services you use, and that your paperwork is kept up to date, and filed in accordance with data protection. While this involves paying, and having, more employees, it means you will not be paying another company or broker to complete these actions for you.
Depending on how you wish to run your company, any of the different working models might suit you. For those who wish to have the level of responsibility completely removed from themselves, opting for another company to do the work for you may be more beneficial. For those who want the work to stay in-house, or do not have the budget to outsource, keeping the work to be completed by members of your team might be more suitable. Do your research and weigh up your options.