Most of the time, entrepreneurs get into business because they have a unique idea, service, or product to offer. What they don’t usually get into business to do is the inevitable Human Resource (HR) administration that comes with running a company. Sometimes, when we encounter areas outside our expertise, we don’t even know what questions to ask. After all, it’s hard to know what you don’t know. HR often falls into this category for many business owners. While they recognize employees are their greatest asset, they often don’t know best practices within HR management or administration. That’s where a PEO comes in! A Professional Employer Organization (PEO) can protect your company, maximize your talent, and free up your time.
Over the past 20 years, we’ve worked with many companies to help them understand the inner workings of a PEO and how it can benefit an organization. We’ve encountered many different motivators or scenarios that led clients to seek PEO services.
You’re not alone if you’re feeling overwhelmed juggling any (or all) of these situations:
- You want to offer a robust benefits package, but you don’t have the time, experience, or resources to make it happen
- You’re at an exciting growth stage and you can no longer handle HR responsibilities in-house
- You’re preparing for a buyout or investors and you need to reduce liabilities and formalize HR processes
- You want to retain your company’s talent pool with a company culture and benefits package that entices them to stay long term
- You want to figure out how HR needs shifted post COVID-19, such as:
• Balancing remote/on-site expectations and adjusting HR policies accordingly
• Tax implications for employees who work remotely and live out of state
• Shifting benefits programs to match employees’ current needs
• Guidance on tax credits and federal funding
- You’re pretty sure you’re missing out on growth opportunities because of you spend so much time on employee administration
- You find rising costs for upcoming renewal for health insurance or workers comp. Therefore, you want to shop around to make sure your getting the best value for your money
- You lost money and sleep over a compliance oversight or an EEOC complaint makes you realize you need to proactively protect your company and employees
- You know HR isn’t your expertise and want to find a partner who will take care of your employees and treat them like their own
We can help:
Most business executives don’t even realize how much time they are spending on HR until they start working with us. Just because you can juggle it all, doesn’t mean you should. HR is such an integral part of every company, but it’s a cost center. The more time you spend figuring it out, the less time you can dedicate to growth initiatives. Ultimately the decision has to be right for your company, but bear in mind the time, money and stress that comes with HR.