PEO companies are able to provide the services that an entire HR department usually brings to an office. This is especially beneficial for any small to medium sized businesses that either don’t have the funds or the time to hire on an HR department as a whole. There are plenty of small businesses that attempt to do this on their own, and while at first, it may seem like it’s not too much to handle, as your business grows, you’ll see that your need for more hands on deck will also grow. There are a few reasons that small businesses find success when working with a PEO company, and below are just a few of them.
PEOs Help Businesses Grow
In the last couple of blog posts, we have focused on all of the ways that PEO companies allow for small business owners to drive funds and time to more important matters of running a new business. This could include anything from working on the creative side of it to developing up and coming additions that keep the business cutthroat and competitive. All of this possible when you hand of these responsibilities to an outsourced company that has experience and knowledge with all of these services.
There are roughly 2 to 3 million employees who are able to enjoy higher quality benefits and health care because of PEO companies that help small to medium sized business get started on this route. In doing so, there has been a 20 percent growth per year on the amount of people that are able to benefit from this.
PEOs Benefit A Small to Medium Sized Business
The primary reason that businesses benefit from PEO companies is because of the time and money that it saves business owners. We took a sample of what business owners were showing when it came to why they enjoyed working with a PEO company, and this is what we found.
Healthcare & Benefits
48 percent of business owners said that they enjoyed using a PEO company because it reduced the cost of their healthcare and benefits. As we mentioned prior, the amount of money that it costs to provide this to a group of employees can be something that keeps a business from investing in other parts of the foundation.
A team of HR members is an absolute must, but it definitely costs quite a bit in the spectrum of things. When you hire one or more HR members, you are having to add additional benefits, healthcare and pay in order for them to manage everything. When you work with a PEO company, you receive the same service for a portion of the cost.
Free Up Some Time
The primary reason that small business owners use PEO services is so that they can spend more time on the parts of their business that matter more. Not to say that these aspects are not important, but they certainly require less attention than other components of a business that the business owner should have their attention on.
There are plenty of reasons that working with a PEO company can provide your business success, but the truth is that you have to want that success in order to trust us. We know that in order for a small to medium sized business to succeed, the workers need to be just as passionate as the creator, otherwise, the drive just isn’t there. Rather than spend time training that passion and drive to a new employee, you can count on our team to have the expertise and drive to get the job done well so that you don’t have to worry about it.
How will your business benefit from our PEO services? You’ll never know until you start working with us.