How can HR outsourcing services make unemployment management easier?
Typically, companies hire HR outsourcing services to fill gaps in their administrative staff, but did you know they can be used to handle specific tasks on a permanent basis? They can provide expertise where and when it’s needed, opening the door to higher quality resources and helping you manage your workloads more efficiently in the process.
This is especially true in today’s employer climate as regulations soar and responsibilities emerge. When it comes to unemployment management, for instance, missing the wrong deadline could put you in serious peril. Hiring HR outsourcing services to handle sensitive jobs for your business can provide you with many benefits, including:
-
Assistance with Payroll Tax Fines
Last year, the IRS fined business owners $4.5 billion for payroll mistakes. They doled out nearly 7 million penalties for late or incorrect payments. To a degree, fines have become an expected part of doing business, and it’s not surprising when only 46 percent of SMBs even use an accountant to help with the books.
Unemployment taxes, insurance and payments can be hard to keep track of without the right help. That’s not to say that companies with a dedicated accounting department don’t also make mistakes, but it’s less likely to happen when you have a knowledgeable person in charge of paying those bills.
-
Security About Unemployment Management
Not all HR outsourcing services are created equally, and neither are the PEOs providing them. Some businesses merely handle the books. Others create a system where they’re responsible for paying your taxes in a way that maximizes your risks. Do you want to be responsible for someone else’s mistakes?
Make sure your payroll and unemployment tax provider is legally liable for ensuring that your taxes are paid on time and in the correct manner. Once you have an agreement guaranteeing this coverage, you’ll feel much more secure and be able to focus on other aspects of your business.
-
Your Business Will Have Access to Updated Tools and Knowledge
Because PEOs are dedicated to providing specific services for many clients across the board, they keep their staff and their resources updated to the latest industry trends. Many of the penalties businesses face are due to changes in regulations missed by their payroll departments. HR outsourcing services keep an eye on those kinds of issues, knowing how quickly they can arise and cause problems for your finances.
-
You’ll be Confident When Dealing With Unemployment Claims
Making sure that the claims process is done correctly is just as important as ensuring taxes are paid promptly. The right business can help keep your unemployment costs low. They can help connect you with the right people for fighting false complaints, weed out unnecessary expenses due to filing and paperwork issues and make sure your business complies with their legal obligations. While they likely won’t provide legal representation, correct filing procedures can significantly impact the financial outcome.
Earning money is easy. Making the most of it can be hard. Work smarter and make every minute count by protecting your business with professional HR outsourcing services you can trust.
Find out more about delegating unemployment responsibilities to HR outsourcing services. Download our free whitepaper on PEO here.