Your employees are the oil that keeps your business engine running. If you don't prioritize them, you risk losing them to competitors and eventually having your business stall.
As a small business, you must put your employees first. No other investment in your company will provide as high a return as investing in your employees. Neglecting your employees and essential duties like payroll and benefits could have disastrous consequences for your business.
HR outsourcing is becoming an extremely popular way for companies of all sizes, particularly for small businesses, to get help with complex and legally tumultuous HR-related tasks and situations. An HR outsourcing company becomes your partner, helping guide you through difficult times and taking the stress off your shoulders and your internal HR team. The best partners will provide you with payroll support and so much more.
Unlike payroll processors and Administrative Services Only (ASO), a comprehensive HR outsourcing company will support you at every growth stage. Removing the administrative burden from your plate gives you and your internal HR team the time and energy to focus on your employees, investing in them, and helping your business grow.
Outsourcing to a PEO sounds expensive. After all, they take the burden of all of your HR needs. You'd be surprised how substantial your ROI can be when you partner with the right PEO.
Here are the top 5 ways outsourcing your HR needs to a PEO helps you keep control of your business.
You don't have time to worry about complex and ever-changing employment laws. And you surely can't trust just one person to manage all of your HR needs, including compliance. That's why partnering with a PEO could be the right option for you. A PEO will staff HR experts whose sole job is to ensure your company stays compliant with all federal, state, and local employment laws. They'll even work with you to keep you updated and make any policy changes necessary in advance of new or changing regulations.
When you're so focused on maintaining compliance and ensuring payroll is correct, you lose focus of where you want your business to go. Shedding these responsibilities to a PEO can give you that focus back, and the time you need to chart your company's course. When you know that your employees are taken care of, and your business is not at risk of compliance fines and penalties, your mind is free to focus on the core needs of your business, being the leader your employees need you to be.
Aside from pay, the top item employees want from their employer is an excellent benefits package. Unfortunately for many small businesses, this is impossible, as many benefits are too expensive to provide. But because a PEO becomes a co-employer with your company, you get access to the PEO's master benefits plan, negotiated at scale by experts. You get the opportunity to offer your employees top-notch benefits at costs you can afford.
Choosing a partner to outsource your HR needs is not quick, but it doesn't have to be complicated. While many companies market themselves as HR experts, only a PEO can provide your small business with comprehensive HR services and support that grows and evolves with your company and your needs. By providing you compliance, high-quality benefits, and constant support, a PEO could make a difference in how quickly your company grows.