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Archive old records: Securely store or dispose of records in accordance with data retention policies and legal requirements. Performancemanagement As the year winds down, it’s the perfect time to prioritize performancemanagement. Payroll Closing your business’s books at the end of the year is imperative.
Placing employees into roles for which they’re not well suited, leading to unnecessary stress on them and potentially higher turnover. Manage the employee experience Rapid growth shouldn’t deteriorate the quality of the employee experience or impact your culture negatively. Higher turnover. Retention problems.
Designed to highlight critical industry developments, ExtensisHR’s 2024 Trends Report features insight from our professional employer organization (PEO) subject matter experts. Your organization may not have extra time to devote to the intricacies of HR trends and employer compliance concerns, but a PEO does.
ExtensisHR’s PEO Premier® delivers HR services with an edge, complete with a personalized approach, saving time, costs, and sanity. Rather than being left behind on the latest in HR compliance, trends, and operations, why not offer clients the benefit of a professional employer organization (PEO) partner with its own premier solution?
Total rewards include compensation, benefits, well-being initiatives, and recognition, and help companies increase productivity, retention rates, and talent acquisition success. 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.
A benefits specialist has the power to create a compelling benefits package that will attract and excite candidates—ultimately reducing the company’s costs associated with turnover. Technology adoption Technology plays a significant role in many traditional HR duties, from performancemanagement to benefit enrollment.
Keep reading to find out whether your ideal solution is purely payroll, or if you might benefit more from a slightly different option (that still includes payroll services): a PEO. Below we outline what a payroll company will do for you vs. what you’ll get with a different (and more holistic) option, the PEO. What is a PEO?
Professional Employer Organizations (PEOs) help businesses manage essential HR tasks like payroll, employee benefits, and compliance. By partnering with a PEO, companies can focus on growth while outsourcing time-consuming administrative work. One major advantage of working with a PEO is access to high-quality employee benefits.
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. What is National Wellness Month?
When staff feel empowered, organizations can achieve increased productivity, reduced turnover, higher profits, and more. Below, explore what defines the employee experience, the advantages it brings to both teams and employers, and how partnering with a professional employer organization (PEO) can improve it.
Quick look: While professional employer organizations (PEOs) are known for services like benefits and payroll, they can provide so much more. Here are four lesser-known PEO offerings, from recruiting to employee surveying, that can help businesses attract and retain talent and develop data-driven processes. Recruiting services.
If your HR department is tied up with those basic functions in a growing business, then they will have limited time to work on more strategic initiatives such as: Leadership development Employee recruitment and retention Employee engagement. The PEO value proposition for middle market. Why middle market businesses partner with a PEO.
Additionally, business leaders can boost retention by improving their benefits packages, workplace culture, internal advancement opportunities, and more. How a PEO can help you succeed without non-competes Employment laws may fluctuate, but your success doesn’t have to. Employee recognition Saying “thank you” matters.
Research shows that effective onboarding processes can boost retention rates by 82% and improve productivity by over 70%, highlighting just how critical this phase is to long-term success. It requires carefully managing documentation while ensuring new hires feel valued and prepared. However, getting onboarding right is no easy feat.
There are many misconceptions about professional employer organizations (PEOs). Often, one of them is that PEOs only deliver value for smaller businesses. But what about PEOs for midsize businesses with operational challenges? These business owners may ask: What value does a PEO bring to midsize businesses?
Quick look: While professional employer organizations (PEOs) are known for services like employee benefits and payroll, their capabilities extend far beyond those essentials. In honor of National PEO Week (May 18-24), discover four lesser-known PEO offerings, from recruiting to employee surveying, that can help businesses succeed.
Quick look: While professional employer organizations (PEOs) are known for services like benefits and payroll, they provide so much more. From recruiting to employee surveying, here are four lesser-known PEO offerings that can help businesses attract and retain talent and develop data-driven processes. million people.”
These factors have also caused small- and medium-sized businesses (SMBs) to emphasize employer branding and company culture within their talent acquisition and retention strategies. This appreciation creates a sense of pride and belonging, significantly reducing turnover rates and increasing employee satisfaction.
Keeping pace with changes is challenging, but NAPEO research shows a partnership with a PEO can help to achieve all three. The National Association of Professional Employer Organizations (NAPEO) frequently releases research indicating the trends and growth of professional employer organizations (PEOs) across the country.
From small businesses that outsource the bulk of their HR function to medium-sized organizations that may need specialized support, many employers partner with professional employer organizations (PEOs) and human resource outsourcing (HRO) providers. government and the PEO industry’s financial assurance program.
HiBob HiBob offers an all-in-one HRIS, Bob, that provides out-of-the-box onboarding, time and attendance tracking, performancemanagement, and compensation management. Deel Deel is a global HR platform with solutions for team onboarding, payroll, performancemanagement, reporting, and more.
As a broker-friendly professional employer organization (PEO) , ExtensisHR prioritizes informing its broker partners about the latest market developments. The right PEO partner, like ExtensisHR, can streamline that process. Access to 15Five , an industry-leading employee engagement and performancemanagement application.
A professional employer organization (PEO) can help by offering comprehensive HR, employee benefits, payroll, and risk and compliance solutions. However, not all PEOs are equal, and small businesses should look for specific criteria when choosing a PEO as their HR outsourcing partner. Why use a PEO?
Often, the need for “performancemanagement” arises for companies right after difficulties with employees do—including no-shows, tardiness, and issues with work quality. What if I told you that you could use performancemanagement as a tool long before these issues begin–so you could also reduce the need for termination?
While strategies, technologies, and products play vital roles in achieving success, leadership coaching is an often-overlooked aspect that can significantly impact employee engagement, profitability, and retention rates. In contrast, inadequate management techniques can be costly. An astounding 84% of U.S.
The COVID-19 pandemic remained a backdrop for the year’s workforce trends, with the Great Resignation sparking recruiting and retention priorities and a dispersed workforce causing companies to manage a mixture of hybrid, remote , and in-office staff. Benefits administration and management services.
For SMBs looking to fully offload recruiting responsibilities, partnering with a professional employer organization (PEO) that offers recruiting consulting and compensation and hiring services as part of its standard offering (like ExtensisHR ) could be the answer. Track applicants. Add new hires. Track onboarding. Tailored training.
Increased employee retention rates MIT Sloan Management Review analyzed 34 million employees’ data between April and September 2021 and found that a toxic culture was the top driver of attrition. Lean on a PEO While it sounds like something that instinctively and effortlessly occurs, a strong company culture is no accident.
Here are 10 challenges to consider this year and how a professional employer organization (PEO) can help administrators overcome them. Keep on reading to discover 10 HR challenges affecting charter schools in 2024 and how a PEO partner can provide expert guidance and streamlined solutions to navigate these pain-points effectively.
Major hard cost savings can be linked directly to utilizing an outsourced HR provider, such as a professional employer organization (PEO). This can help to: Find the right people Start employees on the right foot Mitigate the turnover cycle Surely this will save you many headaches and can help avoid the substantial hidden costs of turnover.
Enhanced Training and PerformanceManagement. An efficient way to keep employees engaged and lower turnover rates is to offer professional growth and development opportunities while monitoring employee performance. Most technologies include quizzes or tests after the sessions to gauge retention of the material.
Here are 10 challenges to consider this year and how a professional employer organization (PEO) can help administrators overcome them. Keep on reading to discover 10 HR challenges affecting charter schools in 2024 and how a PEO partner can provide expert guidance and streamlined solutions to navigate these pain-points effectively.
That includes turnover , which can be a challenge for any company. companies that fall into the small and medium-sized business (SMB) category, turnover can be especially difficult for smaller organizations that feel bottom-line hits much quicker than their larger counterparts. So how do you quantify turnover? Since 48% of U.S.
Here, explore the business advantages of expressing gratitude towards your staff, four tips on how to create an employee recognition program, and how a professional employer organization (PEO) can help. A professional employer organization (PEO) can help.
As a broker-friendly professional employer organization (PEO) , ExtensisHR prioritizes informing its broker partners about the latest market developments. The right PEO partner, like ExtensisHR, can streamline that process. Access to 15Five , an industry-leading employee engagement and performancemanagement application.
Learn how to improve your company’s approach to your employee lifecycle, from interviewing to performancemanagement to termination, in our free guide: The Employee Lifecycle Roadmap. Is turnover usually salary or pay-related? Do certain managers have excessive turnover? Keep exit interviews concise.
Quick look: The stakes are high when it comes to employee onboarding : new hires get their first real feel of their employer during this time, potentially leading to improved retention, engagement, and productivity rates. That’s where a PEO partner can help. Unfortunately, only 12% of U.S. What goals do we want to set for new staff?
Here, explore the business benefits associated with thanking your staff, four tips on how to create an employee recognition program, and how a PEO can help. A professional employer organization (PEO) can help. However, properly recognizing employees’ hard work may not be as simple as it seems.
Without performance objectives in place, team members can feel disengaged from their jobs, which can cause numerous issues for managers, like “quiet quitting,” increased turnover , and more. A professional employer organization (PEO) , like ExtensisHR, can help.
Using a PEO to outsource HR lets you focus on your mission and operations to deliver the best products and services to your clients. In this blog, we’ll discuss the top 10 FAQs business owners have about professional employer organizations (PEOs). What is a PEO? How does the PEO model work? What services do PEOs offer?
Constant employee turnover. The Society for Human Resource Management (SHRM) claims that replacing an employee can cost a business one-and-one-half times the employee’s annual salary. Whether an employee quits or is fired, a poor retention rate often means you’re not studying your candidates well enough before you hire them.
Improved Employee Retention: A robust employee benefits platform can improve employee retention by offering comprehensive benefits packages. This can help organizations attract and retain top talent, reducing turnover and associated costs. However, the packages should meet the needs and expectations of employees.
Improved retention This survey found that 80% of workers would choose a job that offered a flexible work arrangement, and 30% value choosing their work location so much that they would take this over increased vacation time. Higher employee engagement According to SHRM, engaged employees tend to perform better than those who are not engaged.
PEOs in particular should think of data as a direct pipeline to the resources you and your clients need to navigate the complex world of HR and compliance, and make better business decisions in the process. For instance, companies can use PerformanceManagement software to help improve workplace culture.
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