When you partner with a Professional Employer Organization (PEO), a business relationship called “co-employment” is formed. This is a contractual agreement that divides employer responsibilities between two separate entities: the client company (your business) and the PEO. Co-employment might be an unfamiliar term to you, and that’s okay! We will break it down together.
The INVO PEO team is with you through every step as you navigate your new business relationship.
Simply put, co-employment is a relationship where the PEO acts as the administrative employer of record for the client company and the client is the worksite employer. This relationship is based on a true partnership – INVO PEO always has your best interest in mind and works diligently to ensure you can focus on the business tasks you enjoy most.
Day-to-day business management is still controlled by your internal leadership team. Co-employment, however, allows the PEO to handle pesky, time-consuming tasks like payroll administration and related tax filing responsibilities. The PEO will also be responsible for filing state and federal taxes as well, meaning you won’t have to worry about tax season again.
To recap, this co-employment partnership means that the PEO would assume responsibility for things such as:
- Processing your payroll and issuing paystubs
- Administering payroll deductions
- Preparing, filing, and depositing your payroll taxes
- Managing benefits administration
- Managing workers’ compensation and claim management
- Sharing Human Resources insights, best practices, and advice with your internal staff
The services are just the tip of the iceberg, though. Other PEO services include employee handbooks, risk management, performance management, compliance, time and attendance tracking, and more.
This type of relationship helps both small and medium-sized businesses achieve economies of scale not otherwise available on their own, and outsourcing human resources means business owners everywhere can get back to the things that are most important to them. To learn more about INVO PEO services solutions, reach out to our team of seasoned professionals.
