With 2019 in action, you’re likely seeking ways to improve your operations and build on what you did last year. Maybe growth is in the forecast, or maybe you need to scale back. Whichever the case, you’re looking for ways to work smarter, not harder.
How can you save time and money in 2019? One of the smartest steps to take may be to partner with a Canadian professional employer organization (PEO). There are many ways a PEO partnership could help you achieve your 2019 business goals.
1. Tap into Industry Expertise
One of the best reasons to work with a PEO is to gain valuable insights and expert knowledge about your industry.
A Canadian PEO may have more experience or understanding of the local market for your products and services. They also have better knowledge about the job market for international operations. Getting this expertise on your side is one easy way to make sure you’re working smarter.
2. Manage Risk and Compliance with Ease
If you’re expanding your company into Canada, you might already be aware of some of the issues surrounding risk and compliance. How familiar are you with the legal requirements around hiring an employee or terminating employment in Canada?
Again, the PEO’s expert knowledge is invaluable to a company operating in multiple markets. Having this knowledge at your fingertips makes it easier than ever to manage risk and ensure compliance.
3. Payroll Management Is a Breeze
Payroll is one of those important, yet time-intensive tasks that can bog down your business operations. If it’s not done on time or correctly, you could find yourself in trouble with the Canada Revenue Agency.
Payroll also takes up your valuable time, however, and since it must be done regularly, it ends up distracting you from your core tasks.
When you work with a Canadian PEO, you can get back to business sooner. You’ll also have peace of mind knowing the PEO will handle payroll correctly and efficiently.
4. Take Care of Your Taxes
Another way a Canadian PEO can help in 2019 is by filing your taxes. Like payroll, business taxes can take up a lot of your time, and they can cost you if you’re not careful with them.
Call on the PEO’s expertise again. Their experience is an asset as they prepare your taxes, file on time, and ensure remittances are sent in before their deadlines.
With the tax burden off your plate, you can turn your attention to growing the business instead.
5. Let a PEO Handle Benefits Administration
Offering benefits to your employees is a smart business move. It can also be a make-work project, particularly if you don’t have a PEO partnership to help you stay on top of the administration.
Changing regulations and benefits plans translate into benefits administration that can take more time than you’d like. A PEO can handle the paperwork and track compliance so you don’t have to. Better yet, the PEO may even be able to offer access to better plan pricing for small businesses.
6. Handle Workers’ Compensation Easily
Workers’ compensation may be another area you’re concerned about, especially if you’re expanding into a foreign market. You may not be aware of the requirements your business will need to meet.
A PEO can take this concern off your shoulders, handling the process from end to end.
7. Get Access to the Latest Technology
How does a PEO make your HR operations so much simpler? One way is by using the latest technology. If you’re not sure you can or should invest in a new HR system, partnering with a PEO may be your best bet.
There are so many ways a Canadian PEO can help you work smarter this year. Get in touch and discover what the HR experts can do for you.