Tag: PEO

PEO vs. ASO: Which Is Best for You? | Business News Daily

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Human resources (HR) is an important business function responsible for managing employees and ensuring regulatory compliance. For many small businesses, it’s easier to outsource this function than conduct it in-house. The global HR outsourcing market is expected to surge to $52,941.67 million by 2031, according to a Business Insights market research report.

Businesses who outsource their HR say they’re interested in controlling costs, increasing flexibility and providing a superior level of service to employees, according to the Society for Human Resource Management. If you’re looking to outsource your HR, you may have come across two common models ― professional employer organizations (PEOs) and administrative services organizations (ASOs). But what exactly do these abbreviations mean and what separates one from the other?

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What Are Standard PEO Services? | business.com

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A professional employer organization, or PEO, is an organization that provides human resources and payroll services to businesses of all sizes. Through co-employment, a PEO becomes the manager of record for tax purposes and provides employee benefits packages under its own tax identification numbers.

Generally, PEOs offer several HR and administrative services designed to support the needs of a business. Don’t mistake a PEO for an HRO, also known as human resources outsourcing, though. HROs are independent companies that may provide a portion of a business’s HR needs, but they don’t operate under the co-employment model that PEOs use.
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