When To Get a PEO for my Small Business❓

Streamline HR & Save Time [Fit Small Business]( Expert Insights on HR August 28, 2024 Our Expert’s Topic for the Week: PEO for Small Businesses Small business owners likely don’t have the HR expertise or ability to employ a full HR team to manage all aspects of the employee lifecycle. If most of your time is spent on day-to-day HR operations, it might be time to partner with a professional employer organization (PEO). Delegating your routine HR administrative tasks, such as payroll, to a PEO gives you more time to focus on building your business, keeps you compliant with labor laws, and provides your company with access to high-quality employee benefits at lower costs. - Jennifer Soper, Robie Ann Ferrer & Genevieve Que   BREAKING NEWS: A Texas federal judge has ruled AGAINST the FTC regarding non-competes. That means that the non-compete ban that was set to begin on September 4, 2024, will NOT be put into action. You can continue to enforce the non-competes you currently have in place, and you can create new non-competes. Read our [non-compete agreement guide]( for more information, as some states do have specific rules. Stay Current   A 2023 PEO report from the National Association of Professional Employer Organizations (NAPEO) shows that: - PEOs provide services to 208,000 clients, 17% of which are businesses with 10–99 employees. - Since 2020, the number of PEO clients has increased 10% per year, driven in part by more PEOs servicing smaller employers. - Businesses in a PEO arrangement have higher growth rates, lower employee turnover, and fared better than other companies during challenging economic times. Here are the articles covered in today's edition. - [What Is a PEO & How Does It Work?]( - [How to Leave a PEO in 7 Steps + Free Checklist]( - [What is a Certified PEO? A Guide to Understanding CPEOs](   [What Is a PEO & How Does It Work?]( [What Is a PEO & How Does It Work?]( A PEO is a co-employment alternative for small businesses needing help managing HR, payroll, and employee benefits. The PEO handles HR administrative tasks and provides expert HR advice, allowing employers to manage and grow business operations. And by sharing responsibilities with a PEO, you can reduce some of the employee-related expenses, such as benefits costs.   [State & Federal Labor Laws Employers Need to Know in 2024]( How to Leave a PEO in 7 Steps + Free Checklist]( Leaving a PEO service is a positive step for many growing businesses looking to pull in costs and control their workforce. However, successful change depends on careful planning and management of a long list of details. With a good team and thoughtful planning, leaving your PEO can go smoothly. Download our leaving a PEO checklist to make sure you have everything in place.   [What is a Certified PEO? A Guide to Understanding CPEOs]( [What is a Certified PEO? A Guide to Understanding CPEOs]( Although CPEOs can be more costly than non-certified PEOs, they are a great option for small businesses that want to ensure they’re sharing employment responsibilities with an organization they can trust. Learn about the PEO certification requirements that providers need to meet. Our guide will also help you determine whether your business is a good candidate for a CPEO.   Sponsored by: [Why We Like ShareBuilder 401k]( Why We Like ShareBuilder 401k With [ShareBuilder 401k](, plan expenses are between 23% and 68% less costly than the industry average. It’s important to note that while many fund fees with other providers are usually less than 1%, a small variation in fund fees can result in a difference of hundreds of thousands of dollars in savings over an individual’s lifetime. If a solo 401k is not the right product for you, also consider ShareBuilder 401k’s other options such as its safe harbor 401(k), traditional 401(k), and tiered profit-sharing 401(k) plans. To open an account, you can take advantage of their promo on ShareBuilder 401k [website](. [Get FREE Setup >]( Based on Your Latest Reads   [How to Calculate Vacation Accruals (+ Free PTO Calculator)]( Small businesses that offer PTO must calculate accruals appropriately to avoid penalties. Use our free PTO calculator to help. [Free Excel Test for Interviewing Candidates]( An Excel test for interview candidates can show a person’s proficiency in using Excel. To assess candidates, download our free Excel test. [How to Do Payroll in Excel: 7 Simple Steps (Plus Step by Step Video and Free Template)]( Doing payroll in Excel is best for businesses paying 10 or fewer employees and operating in states without complex labor and tax laws.   Latest in HR   [8 Best PEO Companies for Small Businesses]( If you want to remove some of the headaches of managing HR, administering benefits, and doing payroll on your own, contact a PEO and see how it can help you. To find suitable options, check out our list of the top PEO companies.   [Rippling PEO Review: Is it Right for Your Small Business?]( Rippling’s payroll and HR platform is among the highest user-rated software on the market. Its professional employer organization (PEO) service couples an easy-to-integrate, intuitive system with strong benefits, one-on-one HR support, and responsive customer service.   [Justwork Review 2024: Is It the Right PEO for Your Business]( Justworks is a highly affordable, IRS- and Employer Services Assurance Corporation (ESAC)-certified professional employer organization (PEO). As a PEO, it processes your payroll, files and pays your taxes, and manages your benefits. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer & Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe](