Employees of record are an essential part of any business and can be one of the most valuable assets to a company. EOR Service Canada is apt for the current scenario. With the right employer of record service in Canada, your employees will be registered with various government agencies efficiently and quickly. This is beneficial for the employee and the employer as it saves time by having more efficient processes.
The following are some benefits that come with Employer Of Record Services in Canada by a PEO.
1. Employer of record service in Canada can help you reduce your business costs. You can save money on staffing, training, and administrative costs by outsourcing your HR and payroll needs to a professional employer organization (PEO).
2. PEOs can help you manage your risk exposure. They can provide workers’ compensation coverage, insurance, and other benefits for your employees. This can help protect your business in the event of an accident or lawsuit.
3. PEOs can help you improve employee morale and productivity. By providing employees with access to health insurance, retirement plans, and other benefits, PEOs can help improve their overall satisfaction with their jobs. This, in turn, can lead to increased productivity and reduced turnover.
4. PEOs can help you manage your compliance obligations. They can ensure that you comply with all state and federal employment laws, including wage and hour laws, workers’ compensation laws, and safety regulations.
5. PEOs can help you reduce your administrative burdens. They can handle all of your business’s HR and payroll tasks, including onboarding new employees, processing payroll, and managing benefits. This can free up your time to focus on other essential tasks.
6. PEOs can help you find qualified employees. They have extensive recruiters and job databases that can help you find the best candidates for your open positions.
7. PEOs can help you attract more qualified businesses. They can market your company to their extensive networks of clients, which can help increase your company’s visibility and attract higher-quality leads.
8. PEOs can help you manage risk exposure. By providing workers’ compensation coverage for your employees, PEOs can protect your business in the event of an accident or workplace injury.
9. Employer of record services can reduce red tape. From tax forms to regulatory filings, paperwork is inevitable when managing a small business on your own. Outsourcing these tasks to a professional employer organization (PEO) lets you focus on what you do best – running your business!
10. Lastly, a benefit that is often overlooked is that you will have access to experts who can help simplify the legalities of managing employees by outsourcing your human resource and payroll functions to a professional employer organization.
As you can see from the above, there are many benefits to outsourcing your human resource and payroll functions to a professional employer organization. With these services, you can save money on staffing costs, manage risk exposure for your business in the event of accidents or lawsuits, improve employee morale and productivity with health insurance and retirement plans, reduce administrative burdens by handling all HR tasks such as onboarding new employees and processing payroll – to name a few. If you want help streamlining how your company manages its workforce while maximizing profits through reduced staff turnover rates and increased production levels, give us a call today!