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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.
Download Complete Report Human resource (HR) trends evolve rapidly, and brokers must stay ahead of the curve to provide the most relevant and impactful solutions to their clients. As a broker-friendly professional employer organization (PEO) , ExtensisHR strives to keep its partner community informed of the latest industry developments.
With Generative AI, Skills Technology and Data Analytics, the human resource ecosystem has changed remarkably in the last few years. HR leaders today refer to both the software and hardware tools used to automate human resource functions as Human Resource technology.
When you juxtapose that with the fact that 2021 was the biggest year ever for the HR technology market in terms of investment, we just couldn’t go without sharing the biggest pieces of the last 12 months and highlighting a few of the notable 2022 transactions for their specific value. Key 2022 HR Technology Mergers and Acquisitions.
Without a unified system, manual onboarding processes and ad hoc HR tasks become bottlenecks that frustrate both new hires and the team managing them. A scalable HR system, often called an HRIS ( Human Resource Information System ) or HCM (Human Capital Management) platform, emerges as a strategic, future-proof investment.
These workers help businesses meet increased demand during their peak periods, alleviate workforce burnout, and potentially reduce long-term recruiting costs. Recruiting is much less hectic when you know what to expect in the upcoming months versus when an immediate hiring need arises.
A professional employer organization (PEO) can step in as a powerful ally, simplifying operations, reducing costs, and allowing medical practices to focus on what truly matters most. This is where a professional employer organization (PEO) can step in to provide valuable assistance. PEOs rectify this issue with its recruiting services.
Professional employer organizations (PEOs) offer a cost-effective solution to this problem. Besides the cost savings, working with a PEO can yield many benefits to employers. NAPEO (National Association of Professional Employer Organizations) economists Laurie Bassi and Dan McMurrer conducted research into PEOs.
This ensures that you have pre-existing communication and relationships with qualified, desirable employee prospects, rather than starting the recruiting process from scratch each time the company needs to fill a new role and address a missing skill, or when the company needs to grow rapidly. There is another solution: partnering with a PEO.
From recruiting employees and handling payroll to ensuring compliance with labor laws, HR tasks require constant attention and expertise. As companies look for ways to optimize operations, Human Resource Outsourcing (HRO) has emerged as a strategic solution. HRO can be structured in different ways.
Tandem HR announced the acquisition of The QTI Group’s Professional Employer Organization (PEO) division on August 31, 2021. The QTI Group is a privately owned human resources and staffing organization providing staffing, recruiting, compensation consulting, and outsourced HR to businesses headquartered in Wisconsin since 1957.
To do this, brokers are in a unique position to make an impact by connecting their clients with a professional employer organization (PEO) solution. The structure, support, and insight of a PEO help make this happen. Business success is often marked by adaptability, and creating purposeful partnerships makes this possible.
Let’s explore all the services that a full-service PEO partner can perform for your organization and why your business may want to consider this option for the most comprehensive, cost-efficient and time-efficient HR outsourcing. What is a full-service PEO partner? Among PEOs, level of service matters.
That’s where professional employer organizations (PEOs) come in handy! In this blog, learn about five HR benefits non-profits can achieve with a PEO partnership. That’s why more non-profit organizations are finding solace by partnering with a professional employer organization (PEO). What is a PEO?
Recruitment Process Outsourcing (RPO) is a strategic hiring model where businesses delegate part or all of their recruitment operations to an external service provider. By outsourcing recruitment, businesses can significantly reduce hiring costs associated with job advertising, talent sourcing, and screening while improving efficiency.
Quick look: A PEO partnership can help small businesses grow, stay compliant, offer competitive benefits, and retain valuable employees. However, some organizations shy away from a PEO out of fear that a co-employment relationship is the same as employee leasing. However, the PEO does not supply workers to their client.
Because of this, many small business owners have turned to a solution that has been growing in popularity, especially over the last decade: HR outsourcing. Executive recruiting firms : Organizations that specialize in helping businesses fill executive, upper management, and other senior-level positions.
Fortunately, one of the many built-in advantages brokers have when working with a professional employer organization (PEO) is dedicated access to a team of HR experts who provide flexible solutions. However, it’s not only health coverage that employees value most.
The best employee onboarding software takes the hassle out of paperwork, streamlining the process for both new hires and HR teams to create a welcoming and efficient start. By the end, you’ll have a comprehensive guide to selecting the perfect tool for a seamless onboarding experience. What is Employee Onboarding Software?
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. Quick look: The season of gratitude is here, and it’s an ideal time for brokers to pause and take stock of the many things they are grateful for.
Appealing to candidates involves creating a compelling employer brand , implementing effective recruitment strategies, and selecting individuals who align with the organization’s culture and goals. This is where a professional employer organization (PEO) can provide valuable assistance.
Get Full Report Today’s workforce demands, technological advancements, and shifting demographics are causing the human resources (HR) industry to transform rapidly. Designed to highlight critical industry developments, ExtensisHR’s 2024 Trends Report features insight from our professional employer organization (PEO) subject matter experts.
Quick look: To strengthen client relationships and keep SMBs competitive, brokers are constantly on the lookout for innovative tools, services, and strategies to help them grow their businesses without an added burden. With PEO Premier® , broker clients have this option. With PEO Premier® , broker clients have this option.
HR leaders often use employee management software to enhance efficiency, foster better employee engagement, and ensure compliance across HR functions. This guide will examine a selection of leading employee management softwaresystems for optimizing these core HR tasks. What is employee management software?
Quick look: Legitimate telemedicine solutions provide affordable, convenient care. Here’s how brokers who partner with a PEO can help clients avoid dishonest providers and offer their employees reputable virtual solutions. Men and women and urban and rural patients use the solutions at similar rates.
Quick look: PEO awareness and subsequent partnerships have increased over the past few years as brokers and their clients look for fresh HR and benefit strategies to keep them competitive. However, many organizations have begun to realize not all PEOs offer the same level of support. However, not all PEOs are the same.
Luckily, with a PEO partnership in their pocket, brokers can step in as trusted advisors and help their clients remain compliant. Initially, you may be approached by a client to provide health insurance solutions, but you shouldn’t limit your engagement to strictly benefit-related matters. Offer solutions—and keep asking questions.
Recruiting and onboarding As the war for talent rages on, a robust recruiting and onboarding strategy has never been more important. Recruiting specialists manage the entire hiring lifecycle, from screening resumes to onboarding new employees.
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.
But, with the right HR system , HR leaders can optimize scaling operations while supporting team member engagement and productivity. This article will review some of the best HR software for small businesses, how they can support growth and what features to look for when you’re making your decision.
From boosting employee retention rates to safeguarding against industry disruptions, here’s how L&D can benefit today’s SMBs, and how working with a PEO can simplify the process. Additionally, some organizations leverage a PEO’s assistance with developing an L&D program. Recruit top talent.
Yet, it’s not all doom and gloom, as brokers and their clients have access to professional employer organizations (PEOs) to help them reinvigorate employee participation and provide the support necessary to help them do their best work.
Insurance brokers and professional employer organizations (PEOs) are supposed to be competitors, right? Actually, brokers and PEOs can form mutually advantageous partnerships that result in better service for their clients. Furthermore, brokers themselves can benefit significantly from working with a PEO. Recruiting and hiring.
Hence, hiring an employer of record becomes necessary. Besides being responsible for recruitment, the EoR can manage new employees. Various laws may have specific requirements for staff recruitment and compensation. According to statistics, 98% of companies invest in staff recruitmentsoftware.
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. How brokers can help : Determine which of your PEO partners offer recruiting services, and the scope and cost associated with them.
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.
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.
Our top-ranking blog of the year answers these questions and reviews Gen Zs preferences for: A healthy work-life balance Modern technology Diversity, equity, and inclusion (DEI) Professional development opportunities Corporate social responsibility (CSR) Mental health support Financial wellness programs Read more > 2.
ExtensisHRs most-read broker blogs this year provided a wealth of actionable insights, from tips on ensuring your clients employees make the most of their flexible spending accounts (FSAs) to the importance of choosing a professional employer organization (PEO) partner with a history of proven success. years Benefit Operations 8.4
ExtensisHR’s PEO Premier® is designed specifically to meet the high standards of financial services companies, offering tailored HR solutions that ensure compliance, streamline operations, and provide premium benefits packages. PEO Premier® provides this level of service by pairing its users with a full-service account team.
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. Key components of the employee experience include: Recruitment and onboarding : How streamlined, welcoming, and informative the process is.
Finding the right tools to manage HR tasks efficiently is crucial for small businesses looking to scale. Human resource information systems ( HRIS ) empower HR teams to automate and streamline essential HR functions, save time on admin work, and focus on strategic initiatives that drive growth. How can an HRIS help small businesses?
For growing businesses, replacing a PEO (Professional Employer Organization) is often the next natural step. At EmphasisHR, we specialize in helping growth companies moving to the Paylocity platform navigate the post-PEO landscape with confidence and clarity. You shouldn’t be locked into a PEO that limits how you use it.
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