The days of remaining with the same company for the duration of a career are gone. And in fact, the days of remaining with the same company for more than a decade are almost over as well. According to a 2016 report issued by the U.S. Bureau of Labor Statistics, the average tenure of an employee with any one company these days is just 4.6 years, and if that worker happens to be a millennial the figure is even lower, just 2.6 years.

The simple fact is that many workers across many niches, and from all working generations, simply have little interest in remaining in the same position for too long, or at least until they find a position that truly suits them. It's for this reason that the concept of co-employment is hotter than ever before and something that potentially almost any company could benefit from.

What is Co-Employment?

Put simply, co-employment means that two entities share the responsibility for a single employee. On one side you have an employer company that has an immediate need for employees, but this need may or may not be a permanent one. On the other side you have a staffing firm or an HR outsourcing firm that represents contingent workers - those who are interested in a variety of working situations and are looking for good pay rates and new challenges rather than a long-term employment situation.

In a co-employment situation, it is the staffing agency or PEO firm that is responsible for the hiring and screening of staff, the setting of pay rates and the payment of essentials like workers compensation insurance. The firm in which the employee is placed is then responsible for determining the length of a contingent worker's employment, providing decent working conditions and assigning and supervising the employee's day to day work.

What are the Advantages of Co-Employment for the Employer?
There are several advantages of considering entering into a relationship with employees on a co-employment basis for almost any employer. These include all the following:

Reduced Costs -  Payroll and general HR costs can add up quickly. It is estimated that even the process of hiring an entry level employee for a position paying $10 an hour can cost up to $800-1000 per employee on average. By handing the employee search to a PEO company, and then leaving the payment of the newly hired worker up to them as well many companies can not only save themselves money but also time as well.

Greater Peace of Mind - Background checks have, sensibly, become the norm in today's business environment, but conducting them, even if an outside firm is hired to do the actual 'legwork' is not only overly time consuming but also a potential legal landmine. Some employers have been known to well overstep their legal boundaries when conducting background checks and have found themselves is serious hot water. Leaving the screening up to a staffing agency removes these burdens while still helping to ensure the client company gets the best person for the job.

The Ability to Compete for Talent with Larger Companies - Every business wants to hire the best talent. Often however that best talent is looking for benefits and perks that a smaller company simply cannot provide. However, a co-employment situation sees many of those benefits provided by the PEO company, not the client, something that allows smaller concerns to compete with larger ones for great talent on a more level playing field.