Making Cents of It All
Podcast that makes sense of the things people do to make cents...
Making Cents of It All with Jesse Stakes gives the spotlight to the small businesses that make America run. We look to share the "why" behind why people choose what they do professionally and showcase their expertise in their chosen profession for the benefit of our audience.
We also dive into the services that support those small businesses and provide information on the technology and services that allow them to do what they do each and every day effectively and more efficiently.
Making Cents of It All with Jesse Stakes looks to help businesses succeed financially and give them the spotlight while doing so!
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Making Cents of It All
What is a PEO? Greg Den Boef Joins to Make Sense of Professional Employer Organizations.
My guest this week is Greg Den Boef. Greg has worked for Paychex for over 21 years. They are one of the nation's leaders in providing human resources, payroll, and employee benefits outsourcing services for small- to medium-sized businesses.
A Professional Employer Organization (PEO), sometimes referred to as an employee leasing company, is a human resources company that small businesses contract to handle certain administrative functions. Here are the key points about PEOs:
- Co-Employment: A PEO acts as a co-employer alongside your business. It provides services for both your company and its employees. By partnering with a PEO, you can outsource important HR functions, such as payroll, benefits administration, and training.
- Compliance and Efficiency: PEOs ensure compliance with federal and state employment laws. They handle tasks like tax reporting, employee benefits, and risk management. This allows you to focus on your core business activities while the PEO manages HR-related complexities.
- Services Offered by PEOs:
- Payroll: PEOs handle payroll processing, tax withholding, and direct deposits.
- Benefits Administration: They manage employee benefits, including health insurance, retirement plans, and other perks.
- Training and Development: PEOs may provide training programs and resources for employees.
- Risk Management: They assist with workplace safety, workers’ compensation, and compliance.
- Employee Onboarding: Some PEOs offer onboarding services to streamline the hiring process.