What does peo mean?
A PEO, or professional employer organization, is a type of full-service human resource outsourcing known as co-employment. In this arrangement, the PEO performs various employee administration tasks, such as payroll and benefits administration, on behalf of a business. Some PEOs also have strategic services, but no two are exactly alike, so it’s important to research providers and compare their capabilities.
Why use a PEO?
With the expert, strategic guidance of a PEO, you may be able to grow your business and have peace of mind that you’re more protected while doing so. PEOs typically help with:
- Payroll and tax filing
PEOs process payroll and in some cases, can pay local, state and federal employment taxes. Many also integrate payroll with time and attendance, which helps reduce duplicate data entry and errors. - Benefits administration
A co-employment arrangement often comes with access to high-quality, cost-effective health insurance, as well as dental care, retirement benefits and other employee perks. The PEO will usually handle the employee enrollment for these benefits and process claims for you. - Compliance
PEOs typically have compliance experts who can help you protect your business from fines and penalties. Their area of expertise may include payroll tax law and reporting requirements, unemployment insurance, workers’ compensation, hiring and HR compliance. - Risk and safety
In addition to workers’ compensation insurance, PEOs sometimes provide safety audits and training programs to help you limit claims. They may also assist with Occupational Safety and Health Administration (OSHA) inspections. - Human resource support
In many cases, a PEO has HR professionals who provide HR services and support. If you already have an in-house HR person or team, the PEO partners with them both strategically and administratively. - Talent management
Some PEOs offer end-to-end talent services, like recruiting and strategic hiring, employee training and engagement, and performance management.
PEO for small business
Small and midsized business owners often turn to PEOs for support with critical and strategic HRmanagement so they can focus on their core competencies, including creating, enhancing and selling the products and services that made their names. Learn more about how a PEO can benefit small businesses.
Deel as one of the best global payroll
Deel is the global payroll that help employees and contractors from around the world.
It is a global payroll solution that helps businesses hire anyone, anywhere. Using a tech-enabled self serve process, you can now hire independent contractors or full-time employees in over 150 countries, compliantly and in minutes. Today, Deel serves over 8,000 customers from SMBs to publicly traded companies.
Deel allows you to integrate with ERPs like Netsuite, HRIS platforms like BambooHR, and popular accounting software like Quickbooks. They announced in late 2021 that they will also include Greenhouse and Lever in their list of integrations.
Deel Pricing
Whether you want to hire a number of employees or contractors where you own the entities, start with a flexible package, and you see how Deel can take over all your heavy work.
- EOR: You can hire employees in over 100 countries at a starting price of $500/month.
- Contractors: You can manage and pay global contractors with compliance at a starting price of $49/month.
If you are still looking for a better option for managing your HR and global payroll needs, check out some Deel alternatives.
Features of deel
Deel can hire employees worldwide on your behalf to onboard employees quickly in over 100 countries without paying for admin costs. With this feature, you can focus on your company’s growth while allowing Deel to handle complexity.
If you require to open a local entity in order to hire employees in other countries, it will consume more time and money. It may also incur the complexity of handling HR admin and payroll manually. However, with Deel’s EOR, hiring an employee is not a tedious task anymore.
With the help of legal entities and expert visa support, you can effortlessly onboard employees from around the world. Deel will handle everything for you so that you find everything compliant with applicable laws, especially when it comes to minimum wages, contracts, terminations, and other cases.
Once you pay your employees one bulk payment, Deel will manage the hard job, including pensions, government fees, benefits, tax deductions, and more.
Global Payroll
Run payroll process in over 100 countries using a single platform to streamline all your international operations and reduce the ongoing admin of taxes, benefits, local compliance, and more. Deel’s in-house experts help you set up an entity or navigate local payroll.
You can make off-cycle payments with ease and get help from Deel experts to resolve issues faster with a dedicated CSM. From handling expenses and PTO to visa support, managing everything is an easier process with Deel.
Now, you will never find any inconsistent SLAs and reporting from various systems. Furthermore, you can rely on POC and one process for each country. Deel will handle employee deductions and benefits, local filing, tax and salary payments, payslip creation, localized contracts, documents, and compliant onboarding.
Moreover, Deel will sync all the employee details from the HR platform and get your team on the same boat. Once everyone on your team is onboarded, it will make payroll calculations with ease. Its gross-to-net reports allow you to understand the spending in real-time. You can compare employer bonuses, taxes, costs, and more across the entities in a standard currency.
View currency discrepancies of all the costs in a single currency. You can spot errors, if any, quickly between payroll cycles by using the Variances view. Additionally, Deel offers customized reports so that you can analyze the spending in a clear view for specific areas, such as Pensions, social security, and more.
Get in touch today and you will never be disappointed