Business owners have a lot on their plate. And as their business grows, so does this proverbial plate. Day-to-day work, like paying bills, hiring employees, training, and more, can eat up a lot of time, so much so, that it can feel like you have no time for focusing solely on growing your business. This is a problem, and it’s also the reason why PEOs exists.
At Sensible Benefits, we not only help our clients navigate employee benefits and health insurance, but we also help connect business owners with expert PEOs. “What is a PEO?”, you might be wondering. A PEO is a professional employer organization. They work with businesses to reduce workload and assist them by handling all of their human resources duties, managing payroll, compliance issues, accounting, employee benefits, and more. For more information on PEOs, check out this recent blog on the subject.
As you can imagine, there are a number of benefits to working with a professional employer organization, and in today’s blog, we are going to look at four of the key benefits. Contact us today to learn more about our PEO services or to schedule your free consultation.
Improve Operating Efficiency
By electing to outsource your human resources to a PEO, you can often expect to see your operating efficiencies enhance. For new business owners, trial and error is quite a common practice, and learning from mistakes is a routine part of the day. PEOs can help to significantly reduce this guesswork. Instead of guessing, they leverage their experience and expertise to implement proven-effective processes and sophisticated systems for human resources and administrative functions. Whether you are a smaller company looking to completely forego maintaining an internal HR staff or simply reduce their workload, PEO services can be invaluable to businesses with employees but not the resources or skills to support them with a full HR department.
Perhaps one the greatest and most compelling reasons to turn to a PEO is the potential savings involved. When you hire an organization that comes in and develops individualized processes, reduces individualized headcount, and cuts expenditures on systems and software, you are going to see direct savings. In addition to these savings, there are other, less-apparent reductions. For example, because PEOs have established relationships with insurance brokers and are able to pool their clients’ employees to get the best possible health insurance and employee benefits plans, PEOs often secure highly discounted rates. This translates to significant savings for both employers and employees.
If you want to scale your business and be among the most competitive in your field, you have to build a solid team. You can’t do it on your own. In today’s competitive job market, one key aspect of building a talented team is offering employees a great place to work. PEOs can help foster this environment. They can help you attract and retain talent. Not only can PEOs do this through recruitment services that help snag more qualified candidates, but they can also assist with this through procuring desirable employee benefits and saving your company money, which allows you to pay your employees more.
Gain Peace of Mind
If you are a business owner who is feeling overwhelmed by all the behind-the-scenes work, this may be the greatest benefit of working with a PEO: getting some peace of mind. When you opt to partner with a professional employer organization, you ensure that everything related to human resources is going to be taken care of (in addition to other, agreed-upon PEO services). Being free of the anxiety and pressure of meeting and maintaining requirements related to payroll, compliance assurance, and employee benefits can be a life- and business-changing experience.
Interested in learning more about PEO benefits? What to discuss exactly how a PEO could help save your business time and money? Contact us today to get your free consultation!