Chief Everything Officer. That's you. You decide business strategy, make sales decisions, hire and fire employees, and generally guide the direction of your business. At some point, it all becomes too much, and you need someone else to take some items off your plate.
Growing your HR team can create additional headaches in hiring and training. Plus, you never know if the new employee will make mistakes that cost your business money and reputation. But as your business grows, HR must grow with it.
Outsourcing HR may be the solution you need since it takes the strain of developing the department off of you. It gives you the time to focus on your core business needs and provides your employees with key perks that support them. HR outsourcing relieves your stress and helps your business stay on the right track.
Makes Hiring More Efficient
As businesses grow, they inevitably must hire additional staff. However, not every company will have the HR systems in place to provide a seamless onboarding experience. That creates a bad first impression for new hires and creates compliance risks for your company.
Outsourcing some HR tasks, such as onboarding and payroll, can create a better experience for new employees. Your HR outsourcing partner can also help you build and establish policies and systems to help you hire better and faster. That alone can reduce turnover, which helps you lower costs and bring in higher profits over time.
A new employee's first impression of your company really comes during the onboarding process. If that's not buttoned up to provide them with a clear and structured understanding of their role and responsibilities, it can erode the trust in your organization, often leading to higher turnover and decreased engagement. Keeping your employees happy can result in their increased productivity and loyalty to your company.
Helps Improve Your Employee Relationships
HR outsourcing comes in several forms, but only one can provide you with a comprehensive package—a Professional Employer Organization (PEO). Working with a PEO handles the greatest number of tasks, allowing you time to focus on your employees and offer more involved HR management. When you are more engaged in the intangible parts of HR, you can train your employees better, giving them the proper guidance and structure.
Unlike consulting services that provide advice, a PEO provides you with tangible HR support and results you can see. In addition to providing your company access to benefits you may not otherwise have access to, PEOs offer you guidance on running your business to help you make better decisions as you grow. The service they provide is incredibly beneficial to you, and acting as a consultant valued member of your team helps you develop robust internal systems.
The best part is PEOs don't stop there. They then act on it, providing you with results. A PEO will take on HR duties and do them for you. Complex duties like payroll and tax remittance no longer need to keep you up at night. You can rest assured knowing you don't have the risk of compliance issues and any fines that follow.
Provides Improved Benefits
Besides handling your mundane and complicated HR tasks, a PEO also gives your company access to enhanced benefits. Most small businesses cannot afford to provide benefits because it simply costs too much.
With a PEO, however, you gain access to their benefits package. Because a PEO can negotiate rates at scale, they may be able to provide high-quality benefits at lower costs than what you could get on your own. That provides your employees with the benefits they want at manageable costs for your business.
Aside from giving your company access to these benefits, a PEO can also manage your benefits for you. Because your PEO manages your payroll, they can make sure each employee's deductions are accurate to cover their portion of the benefits expenses and route those payments to correct providers. They can manage your time off requests, keeping track of your employees' time off balances automatically in a system that you can access and view all your HR data.
As a small business, partnering with a PEO allows you to offer more to your employees. More benefits. More security. And a better environment.
That helps to set you apart from the competition. By providing a best-in-class benefits package, you become an attractive employer in your industry. It helps you attract and retain top talent, maybe even getting some top talent from your rivals. By keeping your company the most attractive option, you can stay ahead of the curve.
Professional HR Management with a PEO is Your Solution
At the beginning of your company's life, you do it all. There's no one else to help. But as you've grown your business and added employees, you need to shift your focus to the bigger strategy. You need a partner you can trust with confidential information who can handle your compliance needs, along with your payroll and benefits. Together with your partner, you can focus on your core business needs and giving your employees a best-in-class place to work.
Trying to get benefits on your own and manage your company's payroll and benefits will take lots of time that you don't have. Without someone to do this work, you risk losing competitive ground to your rivals. A PEO can help you level the playing field, providing the HR services you need and the benefits your employees deserve, all at costs you can afford.
Getting full HR services used to mean developing an entire department and would require massive budgets that only large corporations could access. With the right PEO, all of these doors are now open to you and your employees.
