Many small- and mid-size businesses don’t have the staffing or resources for comprehensive HR services, which is why it can be beneficial to tap into a Professional Employer Organization (PEO) to access this essential support.
What Do Professional Employer Organizations Provide?
PEOs offer a variety of essential services to support businesses, such as:
- Human Resources
- Payroll Processing
- Benefits Administration
- Regulatory Compliance Assistance
- Risk & Safety Consultations
- Workers’ Compensation Premium Relief
These services can help businesses thrive by reducing employee turnover and optimizing opportunities for growth.
Benefits of Using a PEO
It’s been said that employees are your greatest asset – at the same time, your workforce can be a potential liability. Your business needs productive, effective employees for reaching ongoing business objectives. PEO services are designed to manage the natural employee lifecycle. Leveraging these services enables your business to increase revenue, optimize your workforce, and also reduce employee-related liabilities.
According to NAPEO White Papers, here are a few notable statistics of PEO users compared to Non-PEO users:
- 2x increase in annual median growth
- 50% reduction in the risk of going out of business
- 10 – 14% decrease in employee turnover
- Better benefits packages for employees
- Improved employee engagement
- 16% more likely to report profit increases
- Reduction in time required for managing compliance and employee issues
- More time available to focus on business success drivers
98% of business owners who use a PEO would recommend these services to others.
Explore Your Options for PEOs
Leveraging the right PEO can be an inflection point to take your business success to the next level. Optimizing business systems and improving employee management are essential for strengthening your business foundation, which can boost overall results in the future.
If you are considering a PEO for your business, then ReFOCUSed Business Consulting is the team to call. We offer personalized support for every business, giving you solutions that add to your bottom line. Not only is this process designed to empower business owners, but we have proven systems that can help with everything from tax strategy to ongoing employee management. Contact us to learn about the many ways your company can benefit from business consulting. We are here to help!