What to Know about a PEO
When running a business, it is so easy to get lost in the technicalities and the ins and outs, remaining in compliance, providing the best services for your workforce family…all while providing the unique services of your business to public clientele. That continual juggle can sometimes add a bunch of extra stress and economic hardship for a small business, and it is easy to see why.
This is where we cue in a PEO, otherwise known as a Professional Employer Organization. PEOs provide a comprehensive approach to HR solutions for small to mid-sized companies, including services like payroll, regulatory compliance assistance, HR, and tax administration, along with a plethora of other administrative and HR services. A PEO takes care of the extensive background “fluff” that makes a small business stronger and more able-bodied, so that you can focus on what you are best at: doing what you like and know and providing your exclusive services to your clients.
Why Use a PEO?
It can be difficult for small to mid-sized companies to make big decisions regarding the growth of their company, but numbers don’t lie. According to market research, utilizing a PEO within one’s business facilitates the following growth facets:
Small businesses that use PEOs grow 7-9 percent faster than companies that don’t.
They also have a 10-14 percent lower employee turnover rate, which is HUGE.
They are 50 percent less-likely to go out of business.
By introducing PEO services to one’s company, small businesses are able to offer their employees big-time benefits like 401(k) plans, health insurance, dental, life, and other insurance as well as dental care…large-scale benefits that may not be feasible for a small company standing alone. We take care of you, so that you take care of your employees, and your business can take care of maintaining and growing its clientele!
This information was brought to you by NAPEO.org.