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Essay / Research Paper Abstract
This 4 page paper looks at PEO’s describing what they are and what they do and compares them wit the alternatives that are open to risk and HR managers. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEPEO001.rtf
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Unformatted sample text from the term paper:
of hiring staff can be high, especially for small to medium sized business which are unable to gain economies of scale (Strazewski, 2004). The costs are not limited to the
salaries, but also compensation schemes, but also recruitment and training costs and the implementation of health and safety regulation (Edwards, 2001). The PEO enters into a joint employer agreement
with the company and then undertakes the functions that a HR department would provide, recruiting the staff, training them, implementing and disciplinary procedures, they are even able to fire them
if the employees to not abide by their contract. The company using the PEO then has a fully trained workforce and can benefit from the economies of scale as a
result of the poison of the PEO. The PEO undertake the payment of the employees, take all the deductibles and provide the additional benefits. When a PEO is dealing
with employees for a number of companies they can use the increased size of that employee workforce to increase the benefits of a large workforce, which reduces the level of
the cost per employee. There are also additional benefits, these PEO is likely to have a lower risk profile and a greater spread of risk than the smaller firms
that they provide the employees for, this reduces the costs associated with schemes such as the workers compensation scheme (Edwards, 2001). With the economies of scale they are also more
able to provide incentives for the employees which will help to reduce the staff turnover (Edwards, 2001). However, it has been seen that in many areas there is a resistance
to the use of PEOs. Part of this may be due to the problems that were associated with the former employee leasing schemes and the misappropriation of funds (Edwards, 2001).
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