Changing workplace norms and employee expectations are just some of the factors that Human Resource (HR) professionals all around the world have to keep up with. Considering the importance of good HR Practices and compliance to legislation, making mistakes can prove to be costly not just financially, but for a business’s image. In order to stay compliant and on top of HR trends, many businesses are looking to outsource their HR to professional Employer Organisations (PEO). While a PEO is effective in finding solutions for a wide range of HR-related challenges, here are just three of the most common challenges faced by HR professionals, and how a PEO can help with them.
- Difficulties with Employee Engagement
With the rise of remote work due to the COVID-19 Pandemic, many businesses have struggled with keeping their employees engaged and well connected. A good employee engagement program is critical in order for businesses to maintain happy, productive employees as well as be able to retain talent. However, PEOs are well-equipped with the knowledge and resources that businesses need, which may have been lacking previously.
For example, a PEO can make larger group health insurance packages available at small business prices. A PEO gives its clients access to higher quality benefits and better resources for both the learning and development of employees’ skill sets. A PEO can provide clients with the resources and knowledge needed in order to improve not just employee engagement and workplace culture, but in turn, also increase the level of employee satisfaction and productivity as a result.
- Staying Compliant
One of the responsibilities of a PEO is to help you stay compliant with all local labour laws and legislations. Every country has a different set of laws regarding taxes, payroll and labour. Although some are relatively similar, no two are exactly the same. At the same time, these legislations are prone to changes, and changes can be made anytime from yearly, to monthly. As a result, HR professionals can find it time-consuming and tedious to keep up with these changes. At the same time, failure to do so can result in hefty fines and lawsuit fees.
A PEO helps save a business from pitfalls that could potentially cost a significant amount of money to rectify or fix. PEOs are well-versed in the legislations of the countries in which they operate, and as such will notify clients of any changes they need to take note of. Thus, saving businesses time, money and trouble.
- Not Enough Time for Crucial Business Activities
High-value business activities such as market research and planning campaigns are necessary for business growth. When HR administration becomes more time-consuming and troublesome to handle, a business needs to spend additional time and resources on these functions. However, this also means less time can be spent on the activities that are needed to drive the business forward.
A key benefit of outsourcing HR to a PEO, is the fact that your business need not worry about HR administrative tasks anymore. A PEO is well-equipped with the necessary resources and knowledge to not just handle your HR tasks, but also to improve them. Valuable time is saved and can then be spent on business growth activities.
A PEO Can Help You Overcome All Sorts of HR Challenges
HR comes with its own set of challenges and problems, which may be time-consuming to find lasting solutions to. A PEO can not only help guide you through these challenges, but can also give you a competitive edge over your competitors. Want to find out more about what a PEO can do for your business? Contact us at https://ayp-group.com/find-us/