|Sep 21 2016||
PEO’S ARE A KEY TO A SMALL BUSINESS’S SUCCESS
By: John Morlock
A recent study found that small businesses that utilized a Professional Employer Organization (PEO) to manage their payroll, benefits, regulatory compliance and other human resource needs experienced faster growth, greater employee retention and had a significantly higher rate of business survival than those who did not. The reason is quite simple. By not having to focus on these administrative tasks, the small business owner can focus on his servicing his current clients and prospecting for new ones. Not to mention, by outsourcing these functions to the experts, they have the comfort of knowing that they are getting performed better and more efficiently than if they tried to do these tasks themselves.
Of course, this should be no surprise to most people. After all, this is how large corporations have operated for decades. By centralizing these functions in a corporate Human Resources Department that services the entire corporation, operating groups can commit 100% of their resources to managing their operations. When a new regulation such as the Affordable Care Act is enacted, business units can rely on their corporate HR Department to keep them in compliance and now spend any unnecessary time researching and learning the details.
So it should also not be a surprise that an increasing percentage of small businesses are rushing to engage PEO’s. The markets continue to be competitive and time is money, so any edge that a small business can get on its competition can make a big difference.
For more information on how a PEO can help your small business, contact John Morlock at 1-800-836-9678 or firstname.lastname@example.org.
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