What is a PEO ?
A PEO is a company that partners with small to medium-sized businesses to provide comprehensive HR services, such as payroll processing, benefits administration, regulatory compliance, tax filings, staff recruiting and training, and more.
Basically, a PEO functions as a company’s outsourced HR department, providing access to affordable expertise and services that the company would not be able to secure on its own.
EOR: An Alternative to a PEO
If a business does not wish to engage in a co-employment arrangement, or it does not want to outsource its entire HR function, partnering with a company that provides Employer of Record (EOR) services may be a better choice.
An EOR offers some services similar to a PEO. But an EOR becomes the full legal employer (not a co-employer) of a business’ payrolled workers, handling payroll, taxes, payroll compliance, benefits administration, unemployment claim reporting, and related tasks.
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