Right after Labor Day of each year, there is an influx of businesses looking for new ways of doing business in the next business year.
One of the main topics of discussion at a lot of companies and non-profit board rooms, is how to handle human resources, payroll, benefits, etc. Thus marks the season of gathering info, proposals, meeting with vendors, to determine the course of action for the next year (or multiple years) of a businesses life cycle.
The time could not be any better for those in the PEO (professional employer organization) industry. Due to the nature of the PEO relationship or co-employment, January 1 of any new year is very important so that businesses are paying federal and state unemployment taxes under the FEIN that they plan to pay for the entire year. Granted, there may be enough savings on benefits and workers compensation insurance for companies to consider changing tax identification numbers mid-year, but the cleanliness and clarity of January 1 makes life a lot simpler for a lot of businesses.
So, through the Fall and into December, companies are gathering data on potential partners for the human resources. Here's to the Silly Season for PEO.
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