|Oct 13 2020||
Professional Employer Organization (PEO) Helps Small Businesses to Thrive
By: Rob Lynn
Small businesses that utilized a Professional Employer Organization (PEO) to manage their payroll, benefits, regulatory compliance and other human resource needs have experienced faster growth, greater employee retention and had a significantly higher rate of business survival than those who did not (McBassi & Co 2019). The reason is quite simple. By not having to focus on these administrative tasks, the small business owner can focus on servicing 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, more efficiently, and more cost effectively than if they tried to do these tasks themselves.
Large corporations, by centralizing these functions into a corporate Human Resources Department that services the entire operation, other departments can then commit 100% of their resources to managing their key tasks. When a new regulation is enacted, business units can rely on their corporate HR Department to keep them in compliance and not spend any unnecessary time researching how to maintain compliance.
So, it comes as no surprise that an ever-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.
Since 1988, Total Team Solutions has been helping our clients by providing cost effective payroll, employee benefits along with human resource guidance. For more information on how a PEO can help your small business, contact Rob Lynn at email@example.com.
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