When it comes to any business, the HR department plays an important role in maintaining employee engagement, employee development and a good culture and environment, they also have to handle many operational tasks and duties. However a number of these operational responsibilities can be outsourced allowing your HR team to be more strategic and add significantly more value to the organization because they do waste time on operational tasks. This is where PEO services come in.
What are PEO services? PEO services cover such Operational HR activities such as Hiring, Payroll Calculation, SSB, Personal Income Tax payments, Project-Based Staffing, and help ensure the timely payments of salary, a high level of confidentiality and ensurance that the organization is keeping 100% compliant with the statutory requirements.
Now you may want to know how PEO services can help your company and specifically your HR Department move from an Operational and Administrative supporter of the business, to a Strategic Business Partner -
1. No more hassle for payroll calculation
With our PEO services, you don’t need to spend extra time and effort on HR functions such as Payroll Calculation, Personal Income Tax, SSB, Employee Benefits, Overtime etc. Your PEO Service provider acts as your internal HR Operations Department
2. Improve retention
Freeing up your HR Department time allows them to focus on building a strong organisation that has been proven to reduce staff turnover and improve employee satisfaction.
3. Acting in accordance with law
Hiring the right employees is not always easy, especially for startup companies. From shortlisting candidates to salary negotiation, it usually takes ample time to execute the whole process. As a startup company, you may not know 100% of Myanmar labour law which may result in penalties and fines when local employment laws are violated. Using a PEO Service provider, they will be responsible for all of your HR functions, from hiring employees to payroll and you can rest assured that there is no misunderstanding of government laws and regulations.
4. Great support for business expansion
When your business is successful and you are ready for the next step in your growth, but your HR Department may not be ready to handle the increased volume. By outsourcing functions to a PEO Service provider, they are able to very quickly scale with your business ensuring no impact to the day to day running of the company and allow you to avoid any additional headcount to the HR Department.
Therefore, if you want to free up your HR Department so they can focus on being a strategic partner to the business, consider engaging with a PEO Service provider like MyWorld.