Is a PEO Right for Your Business?
Running a small-to-medium-sized business is no easy task. The administrative headache of benefits, compliance, employee turnover, payroll, etc., can often take away from the time that you have to invest in the growth of your business.
Maybe it’s time to consider a PEO (professional employer organization).
Businesses that use PEOs grow 7 to 9% faster than businesses that don’t. (Source: McBassi & Company)
Having the long list of HR responsibilities taken off of your plate frees you up to focus on revenue and bottom line efforts. It also gives you the ability to invest more time in your people.
Businesses that use PEOs are 50% less likely to go out of business from one year to the next.
The pandemic presented many companies with challenges, causing organization leaders and employees to display resilience and adaptability in a way that had never been done before. Millions of small businesses closed their doors during 2020 and 2021. However, those companies in the PEO model had far fewer closures and negative effects from the pandemic.
When you have someone helping you navigate these changes and uncharted territory, you’re less likely to go out of business.
The average cost savings from using a PEO is $1,775 per year per employee.
Investing in a PEO will not only help your business grow and keep your organization alive, but it will also save you money every single year. Using a PEO allows you to offer a wide range of benefits at a reduced rate, remain compliant, and reduce turnover. All of these benefits ultimately save your business money in the long run.
What are you waiting for? Get started growing your business today with our PEO services.