What Staff Leasing is All AboutStaff leasing is a service that professional employer organization (or PEO) offers to help employers manage the daily grind of human resources. It also helps employers with their administrative responsibilities and employee risks which is especially important in a construction business. The company can then concentrate on the business growth aspects and not be bogged down by unproductive tasks.
Whether your company is small or large, staff leasing handles the administrative tasks for you. In fact, many construction companies find it such an invaluable resource that it is popular in thirty six states in the United States of America.
Tasks that they will handle for your company are:
- Payroll for employees as well as employment taxes getting compensated are handled.
- The state and federal establishments will be notified regarding employment taxes as well as collecting employment taxes, and finally depositing employment taxes.
- Handling all workman's compensation files.
- General liability insurance
Staff leasing is basically co-employment meaning that your employees are hired by the staff leasing company. Your company is still wholly owned by you. Rather than deal with employees, you focus on the production of your goods or services. Staff leasing just takes care of the administrative tasks since the PEO company is the one that actually has the employees.
The benefits of staff leasing are numerous.
- Save money on administrative costs instead of hiring one or more administrators. This includes saving a lot of money on insurance cost, overtime of meetings and conferences, etc.
- Save money on accounting and payroll costs. Staff leasing lets the PEO company do the administrative work so you can free up office space and insurance cost of employees. This leads to less paperwork for the construction company owner and employees to do.
Workman's compensation claims and all related paperwork is taken care of on your behalf.
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