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The HR technology market in 2024 was a story of resilience and growth amidst a rapidly changing global landscape. From groundbreaking mergers and acquisitions to the introduction of innovative solutions that redefine talent management, payroll, and employee experience, 2024 has proven to be a year of transformation. With the U.S.
As a broker-friendly professional employer organization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments. However, they must pay close attention to other regions employment regulations, something some PEOs specialize in. These applications already prove valuable to employees.
In this guide, we’ll explore practical strategies to streamline open enrollment and how a PEO can help busy SMBs make the most of their benefit election cycle. In this case, offloading the project to the benefits experts at a professional employer organization (PEO) may be worth it.
Quick look: As 2024 comes to a close, it’s time for HR professionals to review, reflect, and fine-tune their processes to ensure compliance, enhance employee satisfaction, and streamline operations. In fact, these tasks are just one reason why many small businesses partner with a professional employer organization (PEO).
Quick look: The human resources industry has changed substantially in the last several years—a pattern that will continue in 2024. In the ExtensisHR 2024 Trends Report, review the top 10 latest industry developments and the steps your business can take to succeed, straight from our internal thought leaders.
Related Reading: Top HR Statistics, Industry Trends & Insight Top Employee Onboarding Statistics 50+ Sensitive Workplace Stress Statistics Professional Employer Organizations (PEOs) Statistics
Here, we explore the importance of payroll, how PEO payroll services impact SMBs across the country, and all the other ways PEOs help businesses, too. Other companies offload their payroll responsibilities to a payroll service provider or a professional employer organization (PEO). Some PEOs, like ExtensisHR, are IRS-Certified.
To help in that endeavor, weve gathered our five most-read blogs of 2024, which are full of insights on how your company can adapt to the latest workforce developments, from the new wave of Gen Z employees to comprehensive tips on improving corporate culture. However, HR outsourcing can also drive many other advantages.
Quick look: As 2024 comes to a close, its an opportune time for brokers to review trends from the past year and brainstorm ways to improve in 2025. Explore these topics and more below in a roundup of our five most popular broker blogs of 2024: 1. However, not every PEO prioritizes its broker community equally. years Payroll 11.3
Thankfully, market trends are pointing toward a continued need for benefits and PEO brokers, and the right HR outsourcing partner can help them continue to meet those demands. Thanksgiving is quickly approaching, as is the new year, making it a natural time to reflect on what has gone well so far this year and what may lie ahead in 2024.
Thankfully, market trends are pointing toward a continued need for benefits and PEO brokers, and the right HR outsourcing partner can help them continue to meet those demands. Per SHRM’s 2023-2024 State of the Workplace report , the top two concerns for organizations in 2023 were inflation (73%) and employee mental health (66%).
, outsourcing some of their daily administrative burden to a professional employer organization (PEO) could provide much-needed relief. PEOs help businesses manage various aspects of their HR, recruiting, employee benefits, payroll, and risk management. Learn more about ExtensisHR’s PEO solution or contact us to get started today.
Below, explore what National Wellness Month is all about, the significance of promoting employee health and wellness, and discover how partnering with a professional employer organization (PEO) can help your business achieve these goals. The post National Wellness Month 2024: 6 Employee Wellness Program Ideas appeared first on ExtensisHR.
Brokers who partner with a professional employer organization (PEO) provide their small- and medium-sized business (SMB) clients access to premium benefits at approachable costs, which are typically reserved for larger companies. It also requires finding a balance between meeting employees’ needs and aligning with a business’ budget.
Luckily, professional employer organizations (PEOs) specialize in helping these companies not just resolve problems but perform better than before. This Small Business Saturday, review small employers’ top HR challenges and how a trusted PEO partner can guide and empower them every step of the way.
In this blog, I’ll explore the best human resources onboarding software of 2024, diving into what it is, its key features, benefits, challenges, and answers to common questions. Detailed Overview - Best Employee Onboarding Software in 2024 BambooHR Visit Website Read more + Why BambooHR?
Quick look: Gallup’s State of the Global Workplace: 2024 Report shows employees are struggling with finding their ideal work-life balance, which can directly affect a company’s productivity and long-term growth potential. A PEO offers premium benefits from top providers at cost-efficient prices to help broker clients in this endeavor.
Quick look: Reports show startup businesses have experienced a slight decline in 2024 which means the demand for new benefit plans may have also slowed. Census Bureau shows some states experiencing a decline in “business applications with planned wages” in 2024 compared to 2023. The monthly business statistics report issued by the U.S.
To meet employees’ growing demands and help employers maximize their investment, brokers play a key role in designing benefit packages and find partnering with a PEO delivers the ideal support. Therefore, it’s important to choose a PEO partner wisely as big-box PEOs often apply a one-size-fits-all approach to benefit plans.
Here’s how to design an impactful total rewards plan, and how a PEO can help time-strapped SMBs reap the benefits of a well-appointed program. That’s when a professional employer organization (PEO) can help. PEOs manage various aspects of companies’ HR, employee benefits, payroll, and risk and compliance management.
Adding Scheduling & Hiring Tools that are Unified with Timekeeping to Set Your Clients Up for Success in 2024 Swipeclock had the opportunity to present at NAPEO’s First Friday webinar series on November 4, 2023. Review what we covered and how a Swipeclock partnership is the ideal solution for PEOs. Partner with Swipeclock Today!
The annual contribution limit for IRAs will remain at $7,000, the same amount as in 2024. Read IRS Notice 2024-80 > 2025 FSA contribution limits FSAs will also experience increased contribution limits next year. In 2025, employees can contribute $325 per month to their CBP, up from $315 in tax year 2024.
Plus, discover why partnering with a PEO can give you and your clients a competitive edge. million Americans will hit retirement age annually through 2027 , with 11,000 expected to turn 65 in 2024 alone. A PEO can provide access to Fortune 500-level benefits and group pricing advantages smaller businesses would otherwise miss out on.
Top Human Resources Trends & Statistics Professional Employer Organizations (PEOs) Statistics Top Employee Onboarding Statistics They provide employees with the tools and support they need to manage stress and recognize their achievements. By doing so, they create a resilient and motivated workforce. You Might Also Like.
Benefits of a timekeeping solution also include: Building trust with your clients Offering more ownership over time collection Supporting higher employee retention rates Ensuring data accuracy In May 2024, NAWBO published an article that included a finding by the IRS. had faced fines for incorrect filings and calculations. Alight, Inc.
Earlier this year, we wrote about how it was like déjà vu all over again with the ERTC causing Professional Employer Organizations (PEOs) problems for the past four years. So the pain continues for many PEOs trying to get reimbursement. Those well-meaning businesses include PEOs, of course. million as of June 2024.
as of September 2024. Partner with a PEO Successfully attracting and retaining military spouses involves many moving parts, from fairly reviewing resumes to ensuring compliance with relevant employment laws. That’s when a professional employer organization (PEO) comes into play.
Quick look: National PEO Week (May 19-25 2024) has been federally recognized to celebrate the impactful contributions of the professional employer organization (PEO) industry. It’s no surprise to see SMB interest in using a PEO increase significantly over the past few years.
October 2024 Legal Updates If you’re an existing ComplianceHR client, not only can you access these updates through the PolicySmart solution, but also robust links to learn more about each of these changes. However, if you are not a subscriber to our solutions, we are pleased to provide you with abbreviated October 2024 Legal Updates.
According to a recent white paper published in September of 2024, PEO clients (companies who partner with a Professional Employer Organization, or PEO) are more resilient businesses and have lower turnover than those who do not outsource to a PEO.
By Chris Babigian & James Tehrani Tax Day 2024 has come and gone, and most employees won’t be thinking about taxes again till next April. From child-care contributions to mobility taxes and much more, small and medium-sized businesses (SMBs) count on Professional Employer Organizations (PEOs) to help keep them in compliance.
September 2024 Legal Updates If you’re an existing ComplianceHR client, not only can you access these updates through the PolicySmart solution, but also robust links to learn more about each of these changes. Below is a reminder of September 2024 legal updates with effective dates. Sign up for a demo today.
With nearly half of all breaches affecting SMBs, here’s to develop a well-rounded small business cybersecurity plan—and how external resources, including a PEO, can help. In fact, nearly one-third of ransomware breaches in the first quarter of 2024 occurred at organizations with fewer than 100 employees.
August 21, 2024 – ExtensisHR , a nationally recognized Professional Employer Organization (PEO) and HR Outsourcing (HRO) services provider, proudly announces it has received two prestigious Bronze Stevie® Awards for “Employer of the Year” and “Achievement in Organizational Culture.” Woodbridge, N.J.
In 2024, the limit is $23,000. Charles Schwab explored this trend in its recent 2024 Schwab Modern Wealth Survey. A professional employer organization (PEO) , like ExtensisHR, can help. Employers may also contribute to their staff’s accounts, whether they’re traditional 401(k)s or Roth 401(k)s.
With an up-and-down economy and significant changes affecting the workforce, brokers can further protect their clientele by partnering with a PEO. in 2024 from 2.7% Rather than tackling this separately, PEOs offer a full scope of services, which allows brokers to expand their offerings, resources, and expertise.
By partnering with a professional employer organization (PEO), brokers can connect clients to the most desirable plans at competitive rates. By partnering with a professional employer organization (PEO) , brokers can enable their SMB clients to access these premium offerings. That’s where brokers come into play.
Quick look: Aflac has released its 2023-2024 WorkForces Report which examines benefit trends and attitudes of thousands of employers and their employees. While increasing healthcare costs and claims remain a top concern, benefit customization through a PEO shows promise of putting SMBs on a positive trajectory.
Employers and their staff should review these new figures set by the IRS and adapt their 2024 benefits plans accordingly. 2024 is almost here, and so are the Internal Revenue Service’s (IRS) new contribution limits for retirement accounts , health savings accounts, flexible savings accounts, and commuter benefit plans.
As brokers and their clients consider what it means for their present moment, the idea of working with a PEO seems like a good place to start. A PEO is positioned to work with small- and medium-sized businesses (SMBs) to meet HR challenges head-on and stay alert to whatever else is waiting around the corner.
Last month, the National Association of Professional Employer Organizations (NAPEO) held its annual PEO Capitol Summit in Washington, D.C. Aligned with the second-annual National PEO Week, the PEO Capitol Summit is a unique opportunity to hear from lawmakers and discuss issues critical to the PEO industry.
The standards are rightfully set high for businesses entrusting their information to their professional employer organization (PEO). organizations can self-certify their public compliance with the DPF principles, and as of August 2024, ExtensisHR’s certification application was approved under the EU-U.S. Data Privacy Framework (DPF).
July 23, 2024 – ExtensisHR , a nationally recognized Professional Employer Organization (PEO) and HR Outsourcing (HRO) services provider, is proud to announce it has achieved the Most Loved Workplace® certification , following rigorous research and analysis conducted by the Best Practice Institute (BPI). Woodbridge, N.J.
For extra assistance, real estate companies that partner with a professional employer organization (PEO) can leverage its learning management system to track training progresses and assign custom development paths to employees. This practice allows workers to sharpen their career skills and uphold company standards.
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