Small- and medium-sized CPA firms should know that, in many cases, their employees can receive the same benefits afforded to the large firms because of a group buying effort through outsourced HR resources.
Outsourcing the HR function is nothing new; firms like ADP have provided services for some time in this market known as the "Professional Employee Organization (PEO).
However, sometimes a wake-up call is inorder. When a firm is engaged in delivering strategic accounting and consulting services to its clients and customers, employee benefits usually are sent to the back burner.
In additon to increased benefits, HR companies have played an increasingly important role in helping their clients (aka, a firm) also deal with interpreting law, like OSHA regulations and on-the-job safety concerns--and help the firm become compliant to save money on premiums.
If you are suspicious about the kind of help you might get, consider this: the PEO industry is growing at a rate of 30 percent annually to about $200 billion in revenue. Because of this growth, firm owners and administrators might be surprised at the results they might receive.