Four Ways a PEO Can Payoff for Your Business
Some small business owners and executives struggle with the administrative burdens of being an employer. Handling human resources matters such as payroll processing, payroll taxes, employee benefits and risk management while also trying to navigate legal and compliance issues can be time-consuming and expensive. Others are free of the HR headaches and know one of the best-kept secrets of a successful business – a Professional Employer Organization (PEO). A PEO can be your business’s best ally, allowing you to hand off all these non-revenue producing tasks. What would this relief mean to your business? Those who work with a PEO enjoy considerable benefits and convenience. Here are the top four ways a PEO can help your company:
Allowing You to Focus on Your Core Business
Entrepreneurs need to focus on growing and managing their operations in order to be successful in a competitive marketplace. When you work with a PEO to handle your HR responsibilities, you have time to focus on core business decisions. Would you rather be perfecting your product or immersed in paperwork for an unemployment claim? Spend time on what counts and what is going to help your business grow.
Positioning Your Company as an Employer of Choice
Small business owners may think that they can’t compete with the rich benefit programs, retirement options, and growth opportunities found at Fortune 500 firms. While many struggle with attracting and retaining the top talent they need to help grow their company, a PEO offers a solution. As part of the PEO relationship, your employees can enjoy benefit-rich packages including medical, dental, vision and 401(k) plans on par with what larger firms offer. You are now on a level playing field.
A PEO is good for your cash flow too. You are able to contain costs in multiple ways. A PEO can provide savings on benefits and products and services that are usually reserved for large companies with purchasing power. In addition to reducing the hard costs of running your business, a PEO also can improve your potential revenue as well. A PEO can offer valuable training for your employees to develop their skills and maximize their productivity. You ultimately will get a better return on investment for each employee when you support his or her growth.
Maintain Peace of Mind
When you team up with a PEO, you won’t be alone to figure out if your business is compliant or has enough protection for a worst-case scenario. Minimize your worry about incurring fees and penalties for not complying with the myriad of federal and state regulations, including the Affordable Care Act. You can also protect your business and reduce your exposure to lawsuits stemming from claims such as discrimination, wrongful termination, or sexual harassment. Just one can devastate your business! A PEO is able to provide you with peace of mind.
Ready to Work Together?
Smart, driven and determined business owners know that they will be successful with a relentless focus on their product or service, their customers, their competitors and their bottom line. By enlisting a PEO to handle the bulk of your organization’s human resources responsibilities, you can maximize your company’s potential growth and profitability. For more information on working with Oasis, a Paychex® Company, call 866-AT-OASIS (866-286-2747) or go to www.oasisadvantage.com.