Professional Employer Organization | Human Resource Outsourcing

Human resources is a vital part of every company, whether they have an HR department or not.

Even if all the responsibilities fall on the owner of a small business, checks still need to go out on time, new hires have to be entered in the system, and so on.

Human resource outsourcing allows you to transfer some (or all) of your HR-related workload to a professional organization. They’ll take care of everything from payroll taxes to benefits administration.

It’s easy to see why HR outsourcing is appealing to businesses that don’t have their own staff. But even companies with an experienced HR department can use outsourcing to reduce operational costs.

Professional Employer Organization

PEO stands for professional employer organization. During your research, you may have heard PEO services referred to as co-employment, business process outsourcing, or HR outsourcing. According to the National Association of Professional Employer Organization’s (NAPEO) definition, “PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll, and workers’ compensation.” The PEO industry has been around for 30+ years. There are more than 700 PEOs nationwide. PEOs operate in every state and provide services to between 156,000 and 180,000 small and mid-size businesses, employing between 2.7 and 3.4 million people.

PEO Services: What PEOs Can and Can’t Do for You

If you’re concerned that working with a PEO means you’re going to lose control of your company, you’re not alone. The reality is that you will never lose control of your business when you hire a PEO. In fact, a PEO will help you make more informed HR decisions that will make your business stronger.

PEOS DO

Handle comprehensive HR services  for employers, including payroll processing, HR compliance, risk management, employee benefits, employment tax, and time and attendance management

Help reduce liability for payment of wages, payroll taxes, and state unemployment taxes

Assist with employee  recruitment and reduction of employee turnover

Make your business more attractive  to current and potential employees

Save you time so you can focus on  the day to day operations and growth of your business

PEOS DO NOT

Take control of your business

Supply labor to worksites

Make hiring and firing decisions for you

Why Use a PEO: Benefits of Outsourcing HR Functions to a PEO

There are many reasons why employers use a PEO. Businesses that outsource HR services to a PEO typically experience:

Positive ROI. Employers see an average annual  return on investment of 27.2% from using a PEO.

Faster growth rate. Businesses who use a PEO  grow 7-9% faster and are 50% less likely to go out of business.

Greater employee retention. Businesses in a PEO arrangement  have 10-14% less turnover.

Competitive benefits and health insurance. PEOs leverage their     purchasing power to negotiate more affordable benefits and insurance     offerings for small businesses.

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Here is what Tim Sackett, one of the most respected recruitment experts in the world had to say when he was asked who should be using an applicant tracking system: An Applicant Tracking System basically handles the recruitment process electronically by filtering, organising and streamlining the job applications according to the job postings. An Application Tracking System simply reduces the complexity of the recruitment process by providing a simple centralised platform to view applicants, track their progress through the hiring process and filter the applications and resumes based on different requirements specified in the job postings.

“Hiring your best is the most important task”

                                                                                                    - Steve Jobs

An Applicant Tracking System basically handles the recruitment process electronically by filtering, organizing and streamlining the job applications according to the job postings. An Application Tracking System simply reduces the complexity of the recruitment process by providing a simple centralized platform to view applicants, track their progress through the hiring process and filter the applications and resumes based on different requirements specified in the job postings.

Features of an Applicant Tracking System

Here are few of the amazing features of an Applicant Tracking System that can help to ease out recruitment process efficiently-

1. Job Posting

An applicant tracking software provides the facility to post job openings to a wide range of free and paid job boards with a single click. Posting jobs through an ATS helps the recruiters to get an expansive reach for getting the perfect candidate.

2. Branded Careers Page

2/3rd of all the job seekers come to your website when they are interested in working with you. Building and maintaining a careers page can be a tedious task for all companies. One of the biggest advantage of an applicant tracking system is that it helps in creating a branded careers page, it is as simple as changing your background image and bio on Instagram.

3. Candidate Tracking and Management

The number one headache is the irrelevant resumes that your choke mail boxes when you are hiring. Here ATS plays a vital role, it simply tracks the applications which are most relevant to the various criteria mentioned by the recruiter in the job opening, collects them together at a single platform and manages them all together to bring out the best of the talents suited for the post.

4. Interview scheduling

An Applicant Tracking System also helps the recruiters master their interview schedule as well as skills. An ATS helps you to set specified interview dates and time for candidates to choose from their own online portal which indeed replaces the need for frequent emails and calls for communicating purpose.

5. Management of Workflow

The recruiting life cycle is nuanced and complex. Without the proper structure, it’s easy to accidentally skip a necessary step in the process. An ATS enables a recruitment unit to manage the entire recruiting process easily, from job submission to building great teams.

Benefits of Applicant Tracking System

As the name suggests itself, an Applicant Tracking System tracks different candidates throughout the recruitment process. It helps in issuing notification alerts, scheduling and organizing the applications and send automated emails to the selected candidates regarding the further steps of hiring. But Applicant Tracking System software are a lot more than just organizers.

The Various Benefits of An Applicant Tracking Software are:

1. Finds The Best Fit For a Job

Applicant Tracking Systems efficiently reduces the gap between the job seekers and their desired jobs. Hiring a candidate through an ATS who fulfills all the criteria mentioned in the job posting can help increase candidate experience and helps maintain candidate retention.

2. Speeds Up The Hiring Process

ATS are basically designed to speed up the HR’s task of reviewing of job applications and resumes. Before coming to a real person, the different applications and resumes get filtered according to the keywords and criteria of the job posting by an ATS. This speeds up the hiring process efficiently.

3. Is Cost-Efficient

In a recent survey the companies which don’t use a recruitment tool spend about $1,872 on average to hire someone new. Most ATS are quite cheaper and more efficient than the various other methods of recruiting and reaching out to candidates like advertisements in various mass media platforms, posting in job portals etc. This makes ATS quite cost efficient.

4. Increases Relevance Of Job Application

One of the main goal of an ATS is to cull the candidates. The streamlining of job applications that an ATS does on the basis of the requirements mentioned in the job openings, reduces the number of irrelevant applications and help the recruiters to choose from the best of the candidates available.

5. Helps You in Building A Great Team For Your Organization

This is the most important advantage of using an ATS, an applicant tracking system is remarkably effective while building your dream organization. The fact is 90% of FORTUNE 500 COMPANIES use Applicant Tracking Software to build a great teams.

Here is what Tim Sackett, one of the most respected recruitment experts in the world had to say when he was asked who should be using an applicant tracking system:

“We moved into this space in our history where recruiting technology has never been so affordable, meaning organizations no longer have an excuse not to have it. Great tech is so cheap now that if you don’t have it, you’re making a personal choice to stay in the dark ages of recruiting! For SMBs this has never been more real. SMBs can now have even better recruiting technology than their enterprise peers. While enterprise folks get big, vanilla based recruiting technology, SMB shops can move faster to integrate the latest and greatest tech on the market. It’s such an exciting time to be in talent acquisition, the availability of world class technology is transforming how we all recruit on a daily basis.”

Though applicant tracking software are too complex, you can start with the easier tools like Recooty to streamline the hiring process. It is also known as the world’s easiest applicant tracking system.

Sign up for our 30-days free trial today.

Why Recooty’s Recruitment System Is So Innovative For HR Industry.?

The major reasons why hiring with Recooty can be so easy and innovative for the HR industry-

1.Simplicity yet smart hiring at its best 2.Get rid of the paperwork 3.Schedule and manage interviews 4.Customer service is always a priority 5.Extremely amazing yet affordable

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