For businesses expanding into Canada, a professional employer organization (PEO) can be a useful solution to help with Payroll in Canada, compliance, and other HR functions. However, like any business relationship, there are risks to consider when choosing a PEO. In this article, we will discuss 5 risks to be aware of when choosing a PEO in Canada. Risks associated with choosing PEO 1. Compliance Risks One of the primary functions of a PEO is to ensure compliance with Canadian employment laws and regulations. However, if the PEO is not well-versed in Canadian employment laws, or if they cut corners to save time or money, your business may face significant legal and financial risks. Before choosing a PEO, ensure they have a strong understanding of Canadian employment laws and a track record of compliance. 2. Financial Risks A PEO is responsible for managing your company’s payroll and taxes in Canada. If the PEO fails to properly manage these functions, your business could face significant financial risks, including penalties, interest, and audits. Before choosing a PEO, ensure they have a proven track record of accurate payroll management and tax compliance. 3. Reputation Risks Your PEO will be responsible for managing […] read more