My first job was two days a week after school, cleaning up after Mrs. Schmit’s 23 Airedale dogs. The pay was minimal and only benefit included was regular wet sloppy kisses from the pooches themselves. The company was small, but to my 5th-grade eyes the job was big.
As I look back on my career path, I noticed I worked for smaller employers when I was younger. After gaining experience, some gray hair, and about 30 pounds, I ended up working for larger employers. I imagine my career path is not too different from most others in the workforce. That can be a problem for smaller companies.
We have all heard the stories about companies starting in garages or at the kitchen table. Growing into multi-million dollar businesses, but that happens about as often as me competing in half-marathons. It is hard to reach the next level when you are competing against the “Bigs” for talent. However, some companies have discovered a way to turn the corner on this disadvantage, and level the playing field for talent – they partner with a PEO.
While PEOs have been around for 30+ years, they are still a best-kept secret in the business community, with only a 4% overall market penetration. The low market share means that those businesses that partner with a PEO still enjoy a substantial competitive advantage. A PEO will procure, maintain, and administer rich benefits packages without breaking the client’s bank. Client companies of PEOs have discovered that they can offer the best of both worlds to their employees and candidates – a family-oriented culture with the perks offered by larger companies.
Employees feel better treated when their company partners with a PEO. Besides usually having a fuller benefits offering, including dental, vision, disability and life insurance, they will have a retirement plan option, employee assistance program, and additional voluntary benefits. They gain online access to their payroll and benefits information. Also, they can speak directly with an expert about how best to use their benefits and get answers quickly and accurately. The PEO fully administers all of these programs.
How would your business trajectory change if you could attract and retain the best talent?
Big company benefits alone will not win over those A players you have your eyes on, but consider this: with your time focused on important directional items, imagine the culture you can better define and encourage. Those A players would not be out of reach for long, would they?
If your company would like to partner with a PEO, contact Tandem HR today. Our custom payroll, benefits, and HR solutions enable your busy executives to spend their valuable time on your business.
We’re not the only ones excited about our customizable, high-touch approach to human resources. Check out this powerful testimonial about the impact of our solutions.