WHAT IS A PEO?
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What is a professional employer
organization (PEO)?
SynchronyHR is a human resources outsourcing (HRO) organization, also referred to as a professional employer organization (PEO). As a PEO, we provide comprehensive HR solutions for businesses of all sizes, and act as an offsite HR department for growing businesses.
The internal workings of a professional employer organization (PEO)
Professional employer organizations are often called co-employers, because both the business and its PEO partner agree to share employer-related responsibilities. This co-employment relationship is outlined in a contractual, or client service, agreement.
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In this partnership, the PEO companies become the "employer of record", and administer employee payroll, benefits, and insurance under their organization. This provides them an ability to fully manage your payroll utilizing their resources and provide your employees top-tier insurance solutions. They also work with their clients to assist with HR matters, specifically those involving HR management and employment compliance. In doing this, they assume substantial employer risk related to employment taxes, compliance, employee benefits, and workers’ compensation.
Meanwhile the client, or "worksite employer," maintains control over all business and operations decisions, along with staff selection and day-to-day employee management. Despite some misinterpretations, business owners in a
co-employment relationship do not lose control of their organization whatsoever. They simply look to their PEO partners to handle the tedious administrative tasks and provideHR assistance when needed.
PEO Services
As a top-rated professional employer organization (PEO), SynchronyHR manages key employee-related functions, such as:
Our team of certified HR professionals will guide you through a myriad of workforce issues, policies, and procedures, while also helping you adhere to ever-changing employment laws and regulations.
As a PEO partner, we assume responsibility for processing your employees’ direct deposits and payroll checks. The expert Payroll Managers at SynchronyHR provide timely and accurate assistance in administering your organization’s payroll. We also report wages and taxes under our FEIN, so you don’t have to.
As a PEO, SynchronyHR utilizes collective buying power to provide your employees large, corporate-style benefits – including medical, dental, vision, flexible spending accounts, retirement plans, and more. We also administer and manage these benefits, and assist with rate negotiations.
Workers’ compensation is a must for employers, and, as a PEO, SynchronyHR can provide access to competitive and comprehensive coverage through an “A” rated carrier. In addition to helping secure coverage, SynchronyHR will help report and manage claims in the event of a workplace injury.
