Professional Freedom Can Be Achieved
While many kinds of professionals yearn to work for themselves, the reality of running their own practice seems wrought with a field of obstacles to overcome. Whether it’s medicine, law, engineering or another specialty, all these businesses require professional knowledge, and leaving the confines of an established practice to pursue professional freedom takes a certain kind of bravery. The irony of owning a professional practice then, especially for those who find joy in their work, is the overwhelming number of ill-fitting hats a business owner is forced to wear.
The Path To Professional Freedom
The first step to removing work-related distractions is to recognize that not all work is productive to the workplace. If the vision of all employees being focused and productive in their job duties sounds like a dream, know that it starts with smooth running human resources. Attracting and retaining the right employees is easier when you have the right tools. A professional employer organization (PEO) has these tools in abundance, ready with a turnkey start.
Outsourcing to a professional employer organization (PEO) does more than produce timely, accurate payroll. Child support payments, deductions for uniforms, tracking of PTO hours, and a whole host of other responsibilities transfer to a perfectly designed support structure of personnel and software, giving client administrators the real-time information and tools they need. The relief from unproductive duties provides freedom to train, motivate and manage team members, and reduces the fear of some governmental agency phone call related to an employee matter.
How Else Does A PEO Help?
PEOs do not provide employees. Uniquely, they act as a co-employer to all employees at the client site for almost all types of businesses, using the sheer volume of a large, aggregated group to reduce the cost of employee overhead. Employee benefits like health insurance and 401K retirement plans are part of the equation, and costs are dramatically reduced when the employee group size is in the tens of thousands. Enrollment, renewal, premium collection and payment are all facilitated via online tools, and easily administered alongside the payroll function. Workers’ compensation coverage is also frequently included on a single, master policy, further reducing cost and responsibility to participating client companies.
Human resources or human capital, whatever the term, must be managed like any other asset. Utilizing the greatest professional minds in the business, and insuring with employer practices liability insurance (EPLI) coverage gives PEO client companies the peace of mind they need to focus on their business. Employee manuals, policy development, and support when issues occur bring added value to sharing resources in the PEO service model.
For More Professional Freedom, Call Sam Bond Benefit Group
Explore the PEO option with an independent, licensed insurance agent with no fee. Samantha Bond Richman, owner of Sam Bond Benefit Group will assist in developing the scope of services, producing a cost reduction analysis, and providing PEO vendor selection guidance. She has over 30 years of experience in the PEO industry and is a member of the National Association of Professional Employer Organizations. Call now to speak with the team (877) 426-6320, or contact us on the web to learn more.