Professional Employer Organizations (PEOs) have emerged as a game-changer within the SMB community, demonstrating their effectiveness in fostering business growth. As per a Report by the National Association of Professional Employer Organizations (NAPEO), companies collaborating with a PEO experience growth rates 7-9% higher than the other countries. Are you ready to take your business to the next level?
Here are some ways you can bet Professional Employer Organizations(PEO) services will help you get there.
Way No. 1 | PEO services provide time efficiency for focusing on revenue-generating activities.
Up to 20% of small business owners' workdays are devoted to HR activity. Is this the best use of your time, even while tasks like payroll preparation and processing, benefits administration, and other employment-related paperwork are essential? It makes greater financial sense for a CEO to devote their time to revenue-generating activities like customer relationship management(CRM) and networking. A PEO will provide you with a full team of HR specialists to handle all HR administration. You may now devote more of your time to the things that count!
Way No. 2 | PEO services attract high-quality employees.
In the competitive landscape of today's job market, attracting top-tier talent is a crucial goal for businesses aiming to thrive and grow. Professional Employer Organization (PEO) services have emerged as a game-changer, not only streamlining administrative tasks but also significantly influencing the ability of businesses to attract and retain high-quality employees.
Focus on Company Culture: PEOs help foster a positive company culture by implementing best practices and employee engagement strategies. Businesses partnering with PEOs can present a vibrant culture and a supportive work environment, which are highly attractive to prospective employees.
Cost-Effective Solutions: By pooling together multiple clients, PEOs can offer cost-effective solutions for services like insurance, benefits, and employee development programs. This affordability allows smaller businesses to compete with larger corporations in offering competitive packages.
Risk Mitigation and Compliance: PEOs stay updated on ever-changing employment laws and regulations, reducing the risk of non-compliance for businesses. This ensures that companies following PEO services are more attractive to potential employees due to their commitment to legal and ethical workplace practices.
HR Expertise and Support: PEOs offer access to experienced HR professionals who understand the intricacies of managing employee relations, compliance, and regulations. This expertise helps in creating a positive work environment, resolving conflicts, and ensuring that employees feel supported, leading to higher job satisfaction and increased retention.
Way No. 3 | PEO services help you put the right people in the right positions.
A PEO can help you find managers who can lead teams and individual contributors who have the skills necessary to excel in a particular position. According to a recent Gallup report, these strategic hiring practices could increase revenue by up to 32%. If you take into account additional advantages of PEO services, such as happier workers and better workplace culture, this same study indicates that you might see revenue growth of up to 59%.
Way No. 4 | PEO services offer the opportunity to minimize costs associated with mandatory expenditures such as Workers’ Compensation insurance and unemployment taxes.
Similar improved purchasing strength and reduced effects on insurance claims are relevant to these essential expenditures as well. Collaborating with a PEO aims to enhance safety measures, mitigate risks, establish a Return-to-Work initiative, or contest unjustified claims to facilitate decreased expenses. A PEO endeavours to maintain the overall group's well-being and adherence to regulations.
Way No. 5 | PEO services help your business stay compliant, averting costs related to legal fees and fines.
Through a co-employment contract, your firm and a PEO collaborate in sharing the employment obligations for your workforce. Therefore, the PEO is particularly invested in steering your operations to align with the entirety of the employment regulations that govern your enterprise. With your business scaling up and venturing into new territories, grappling with these legal intricacies becomes progressively challenging. PEO professionals, extensively versed in the constantly evolving spectrum of employment laws and their ongoing updates, provide counsel throughout your expansion journey.
Way No. 6 | PEO services provide HR technology access, allowing for the automation of HR processes to enhance operational efficiency.
Way No. 7 | PEO services act as a one-stop HR destination, reducing the complexity of working with multiple vendors for various HR needs.
Are you ready to take your business to the next level?
Discover how PEO services can contribute to your business's growth. Submit your details or call us at +31 97010259351 or +44 7401131349 for comprehensive information!
+31 97010259351
+44 7401131349