The Added Benefits of Working With a PEO: Performance Appraisals

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If you’re exploring a co-employment relationship you’re probably already aware of the main benefits a PEO offers:

  • The ability to attract and retain top employees
  • Compliance expertise and reduced risk
  • Better benefits packages for your employees
  • Streamlined processes for payroll, benefits and managing personnel data
  • More time to focus on growth

But were you aware of performance appraisals? A performance appraisal (also called a performance review or evaluation) is a method used by employers to measure an employee’s job performance. Appraisals are often used as part of the career development process to determine if a certain candidate is ready for a promotion, salary increase, or other type of workplace advancement. It’s also the official way of recording the areas in which a certain employee may not be performing well, so that if they are fired in the future all compliance bases are covered and the termination is not a complete surprise.

Many businesses understand the importance of conducting performance appraisals, but don’t know where to begin and don’t have a defined process or schedule for employee reviews. A defined process and schedule is important because it limits the variations among the workforce and ensures everyone is given equal opportunity.

Many PEOs offer access to great technology that permits employers to customize their company’s review process and improve employee performance by setting and tracking measurable goals. They may also have templates or recommendations for conducting a performance appraisal so that you can be clear and consistent with your employees each and every time … and that’s an added benefit of the PEO relationship that many business owners simply do not know!

Turnover is expensive and a PEO can help you do a better job at hiring, and most importantly retaining great employees. When you’re analyzing PEO proposals it’s important to look for the “added benefits” offered by each. Many have a variety of products and services for both you and your employees that will instantly improve the workplace.

To learn more about PEOs and other forms of outsourced HR solutions, contact us directly at Employer Solutions Plus!