Are you being mired in HR paperwork?
Are your payroll practices proving to be too much of a hassle?
Or are you just so encumbered by the increasingly convoluted laws and regulations, the glaring failure in the negotiation for better deals, the dissatisfaction stirring among employees – that you just can’t focus on your core business processes.
Now that’s a real danger.
Business owners – especially for SMEs – cannot afford to ignore these operating inefficiencies. Not in our competitive business landscape today. And that’s where PEO come in. They have something which small firms don’t. Leverage. Economies of scale. Bringing big-business benefits to small firms.
So yep, let’s get straight to the point.
What exactly is PEO and how can PEO help your organisation
In a nutshell, PEO is a company that pools workers of several companies and manages HR-related functions. It tackles various HR challenges and ensures that key revenue-generating activities are not being compromised.
The core features of PEO
- HR Outsourcing: Routine HR and administrative paperwork. Maintain employment regulations. Recruitment and termination.
- Payroll Processing: Manages checks and deposits. Filing of payroll taxes. Ensure legal compliance.
- Benefit Outsourcing: Provides access to comprehensive insurance offerings such as healthcare, retirement, worker’s compensation at competitive prices. Increases employee engagement and retention.
PEOs have established partnerships with large insurance companies. In terms of securing attractive rates rates and mitigating risks, PEO have far more bargaining power compared to SMEs.
- Social Mobility: Car rental services, expat relocation, expatriate tax, work pass management, local settling, expertise in visas, facilitating entry into foreign markets, supporting local settling-in
- Performance Management: Employee appraisals, reward and recognition, worksheets
- Training & Development: Leadership development services, virtual seminars
Segregation of responsibilities
Both business owner and the PEO will be co-employers. The business retains management control over employees. Day-to-day business functions and decisions are still under the business owner’s direction.
PEO – Yes or No?
It hinges on the scalability of your business. Are you planning to scale? Will you be hiring more employees? And if so, what kind of problems will your organisation likely be encountering? How would the pros and cons of engaging a PEO weigh against each other?
AYP is a proficient PEO provider, offering a wide range of services at affordable rates. We have deep expertise in Social Mobility and relocation services, on top of core aspects. Grow your business. Reduce your liability. Realise your company’s potential with us. Do not hesitate to contact us at +65 6820 0300 if you have any enquiries!