What is Co-Employment?
The legal hiring of a company’s current employees, thereby making the PEO the “employer of record” for taxation and insurance purposes. The employees are then deployed to the original employer/client under a contract that defines the respective responsibilities and liabilities of each of the parties. Within a co-employment relationship, the PEO typically assumes responsibility for all payroll obligations and tax filings, with health benefits, welfare, and retirement benefits being optional additional services that can also be contracted, as well as all the associated administrative paperwork. The work-site employer (client) still remains in control of day-to-day direction including hiring & firing, etc.
What is a PEO?
Professional Employer Organization: A PEO is a co-employer and functions like an off-site HR department to provide cost-effective outsourcing of human resource services. The PEO legally co-employs its client’s personnel, creating a three-way relationship among the PEO, the client company, and the employees. In doing so, the PEO provides small and mid-size companies access to a strategically leveraged, fully scalable, integrated HR department that delivers a vast array of quality services and benefits while mitigating employer-related liabilities.
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