When scheduling an initial conversation with new businesses, most have the same initial question: what is a PEO?
A PEO is a Professional Employer Organization.
PEOs have a unique relationship with partner companies in that they assume many legal responsibilities through an extensive contract, and become a “co-employer” of your employees.
A PEO becomes the employee of record for tax purposes, and administration of the employee. They handle all responsibilities including payroll, withholding taxes, workers’ compensation, employee benefits, unemployment insurance, and retirement plan among other things.
The work site employer or “Client Company” stills handles the normal day to day functions of hiring, training, assigning work function, compensation etc. for each employee. But the PEO takes the functions of payroll, accounting, HR, and workers’ comp off the hands of the small to medium sized business. This frees up time, and resources of the company to focus on the main functions of that business.
We describe the relationship in these terms: if you had a payroll and HR departments inside your office, and needed them for something, you’d walk down the hall and ask them. We work in the very same way, accept that we are outsourced, and offsite.
Across the industry, PEOs vary in the amount of active participation. Some will offer software for payroll and accounting, and HR resources upon request. In this way Ataraxis if very different. We are hands-on, actively working as the HR and Payroll departments of your firm. We process paychecks, verify work eligibility, prepare handbooks, and handle new employee onboardings. We also work with the Client Company to create the most effective communication possible for our co-employees. Sometimes this means allowing direct contact with the employees, or using an internal point of contact to facilitate communication between the co-employee and Ataraxis staff.
We also offer specialized reporting on the payroll side, and customized HR benefits depending of the companies needs. For some companies, this means access to specific payroll cost data, for others it means company compliance training, and worksite certifications. Whatever your specific needs, Ataraxis can create a plan to streamline those processes that are bogging down your executives with paperwork, and lessen the workload and liability of your HR/ payroll team.
Most important, is that this service is less expensive than hiring a full time HR and payroll person in most cases. You also have access to the experience of our entire team instead of requiring one or two employees to master the ever-changing world of payroll, and compliance.