Rita DeStaso of Trinet shared some great advice about why your startup should seriously consider using a PEO.
As I mentioned in my article about setting up HR, using a PEO could save you thousands of dollars now and well into the future by getting your HR function right. Think of it as an insurance policy that’s just as important as general liability or E&O.
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Human resources encompasses a broad array of business functions. There is the obvious sourcing, hiring and firing of employees. However, retaining employees, training employees, managing benefits, setting compensation policy, overseeing contractors, new hire orientation, managing corporate culture and a host of other functions also fall into the domain or share a dotted line to the HR function.
One of the first questions a startup venture needs to address – at least as soon as the founders hire their first employee or contractor – is who will be responsible for the HR function. Getting this right is critical to the success of a venture, as it is the first five to ten people in an organization that will establish the company’s culture for years to come. Read more…