Leasing Employees
Although the term may seem intimidating to some employers who fear losing control of their business, leasing employees is actually much easier and more beneficial than many believe. Although it is similar to hiring temporary employees, leasing employees is a long-term solution for filling job openings. The employees you lease will be considered leased only for benefits packages and the like, and you will most likely be considered common-law employer.
One of the major benefits of leasing employees is that the PEO or employee leasing company often handles all the human resources and accounting paperwork included with being employer of record. Not only does this save you the headaches of so much tedious work, but it also saves you the cost of having to hire a human resources department and accountant. Further, because the PEO is considered the employer when leasing employees, they handle personal injuries and workers' compensation claims.
Leasing employees is not only for new companies, but is also helpful for existing companies. Switching employees from your name to the employee leasing company is simple and quick, allowing you to remain focused on your business rather than setting yourself up with a PEO. Plus, leasing employees is an option for small and large companies alike, and the benefits packages offered by employee leasing companies are often substantially less expensive, especially for small companies.
These are just a few of the many benefits of leasing employees. Your PEO can provide more detailed information pertaining to their services, as each company is slightly different.
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