Your business deserves every bit of success you can give it, but we know that you know there’s more to running a business than handling products and services and managing finances. There is also the management of employees to consider, and that often means considering payroll, employee benefits, and other HR tasks.
Yet there are solutions to such chores, and an employee leasing company is among the most prominent. With one, your business will be able to act more efficiently and provide benefit options that your company by itself is too small to offer.
What Is an Employee Leasing Company?
Also commonly referred to as PEO services, an employee leasing company will enter a co-employment agreement with your company for a fee, often determined by the number of employees in your business and the services you want. They in turn will relieve a lot of the HR burden from your company, freeing you up to focus on the most important tasks of your business.
Employee leasing, or a co-employment agreement, is an arrangement between you and the co-employer which specifies that you and your company maintain all of the day-to-day control and scheduling of your employees, but the leasing company will manage the payroll, benefits, and other HR tasks for you. The specifics can vary, but any business looking to lighten the load of work stands to benefit.
Here are our top three recommendations for an employee leasing company for your business:
Oasis Outsourcing is the largest private employee leasing company we looked at, with over 8000 clients. Yet don’t let its size let you think it’s apathetic, as Oasis is an industry leader with a variety of customizable services to be tailored to your business’ needs. It also happens to be one of the more inexpensive offerings compared to similar programs and when adjusted for services offered, making it a great choice for any small company or startup.
Of potential note to your business is that Oasis specializes in working with companies in regulated industries such as manufacturing, financial services, and property management (among many others). They take special care to make sure any special HR and regulatory considerations are addressed, giving you rarely found piece of mind. To further this point, safety training and development support are available for your staff.
We recommend Oasis if:
- Your business is small or otherwise a startup business, and you would like specialized support along those lines.
- Your business is in a heavily regulated industry and you would like specialized help with compliance and risk-management.
- You want to keep your expenses low when is comes to HR and know you won’t need every service offered.
2) Staff One
An ESAC accredited service, Staff One may not have the size and reputation of some of its competitors, but a quick search will yield that the quality and attention of the service it provides is second to none, and that nearly all clients are satisfied with the services they receive. That is a hard standard to meet, and it’s done through not only expert service but top-tier benefits. CPEO and ESAC certified, Staff One has proven to be extremely reliable. Additionally, the service provides great information tools, benefit options, and additional services as necessary for your company.
They only currently operate in 44 out of 50 states, so you’ll want to double check to see if your business applies, but otherwise Staff One will prove to be an excellent service provider and a true partner in making your business reach its goals.
We recommend Staff One if:
- You want a solid service that stays on top of issues, is proactive in its approach, and highly efficient in its execution of tasks and transitions.
- You would like to work with a company that puts service and client satisfaction first.
- You want to work with expert team members that value communication, teamwork, and openness.
As far as employee leasing companies go, TriNet is among the most established and successful, and that provides certain benefits to its clients. With over 15,000 clients and more than $37 billion of payroll managed, TriNet has the infrastructure to provide you and your employees with whatever they might need. This can include competitive benefits, top class counseling and customer support, and an online self-service portal that employees can use to review and select their benefits (making it great for remote employees), among other features.
While we understand that TriNet might be on the somewhat more expensive side (depending on your company) compared to other employee leasing companies, you will get the full suite of services, and you will be working with some of the best professionals in the industry.
We recommend TriNet if:
- You would like an established, experienced company to handle your payroll and HR tasks.
- You have remote employees to manage or otherwise like the idea of an excellent online benefits and information portal.
- You would like to provide superior benefits to your employees.
Regardless of your type of business or location, you are going to run into various HR difficulties and payroll tasks that could slow you and your business down, distracting you from the tasks that truly matter for success. A employee leasing company such as Oasis, Staff One, or TriNet can help you free stay clear of those burdens and let benefits and payroll get handled by seasoned experts instead.
Have you used an employee leasing company (or PEO) before? If you used one of the above services, what has been your experience? Do you have any additional thoughts you would like to share on these types of services? If so, please leave a comment below and tell us your thoughts or leave a question if you have one.