Hiring an Employer of Record for your small business allows you to manage, onboard, and pay employees through a single provider.
An Employer of Record typically tackles the following tasks:
- Processing payroll
- Filing taxes
- Issuing forms
- Handling workers comp
- Human Resources
- Risk management
Here are just five ways outsourcing can help your team maximize efficiency and make the best use of your resources.
- Save time, money, and space. Salaries, benefits, training, and equipment for your accounting and Human Resource teams can send a company’s overhead through the roof. These teams require significant real estate in any workplace. Forging fully functioning accounting and HR departments is incredibly costly but attempting to cut corners and do things with inadequate resources can be debilitating for your company. Hiring an Employer of Record eliminates this burden, allowing you to free up resources and use them to foster growth.
- Optimize onboarding practices. Put employees on the fast track to productivity, while reducing the assorted costs and time commitments associated with bringing a new hire up to speed.
- Remain compliant. Employment laws in multiple states, and even in foreign markets are continuously moving targets. Varying Federal and state regulations regarding sick leave, ACA, and more carry hefty fines and penalties for those who are noncompliant and can make a considerable dent in a company’s previously stellar reputation. As a small business owner, chances are you’re too busy putting out the next fire to be concerned with learning multiple tax laws while striving to remain compliant. Your Employer of Record can bare the brunt, and ensure all I’s are dotted and all T’s are crossed at the end of the day.
- Better rates for benefits. Hiring an Employer of Record gives small businesses better buying and negotiation power for group insurance rates, workers’ compensation coverage, and much more.
- Prevent misclassification: Misclassifying independent contractors remains a tremendous problem facing business owners nationwide. Hiring an Employer of Record can help companies avoid severe penalties and litigation, while strengthening your workforce overall.
As your Employer of Record, Maslow Media Group can provide comprehensive solutions and a compliance safety net for your small business. We take full responsibility for employment, compliance, and tax laws and your employees continue to work for you. Call us today at 202-965-1100.