Many companies choose a Professional Employer Organization (PEO) for outsourcing because they want to clear some tasks off their plate and get back to their company’s core mission, but the best PEOs can do much more than just finish up pesky tasks. A good PEO can set up your company for success, providing real results instead of just delivering services.

For most business owners, HR tasks are an afterthought—something they must do to keep their business running. Because PEOs focus all their energy on this aspect of a business, they know how to leverage HR departments to be an asset, using their data and experience to yield a positive outcome for a business. Therefore, companies that use PEOs are less likely to go out of business and tend to have higher earnings than other businesses.

5 Tangible Outcomes Using a PEO

If you’re looking to step up your company’s game plan in 2020, here are a few tangible outcomes that your business could achieve with a PEO:

  1. Attract the best talent — About 50 percent of employers say they are struggling to find the right hire for open positions. A good PEO knows the concrete steps that employers can take to attract better workers. Because PEOs work with many different employers, they have the data and experience to know what works and what doesn’t when it comes to attracting new hires.
  2. Decrease turnover — Attracting the best talent is the first step, but keeping good employees is just as important. PEOs specialize in employee engagement, and they are constantly crunching the data to determine what factors keep people satisfied with their jobs.
  3. Improve company culture — A PEO can help lay the groundwork for improving your company culture. PEOs can help develop strategies to eliminate harassment and make employees feel that they belong.
  4. Increase productivity — Happy employees tend to be more productive. A PEO can help identify why productivity has stagnated and what employees need to be more engaged. Whether it’s changing policies or providing better training, a PEO can help find what’s missing in unlocking employees’ productivity.
  5. Multiply profits — A company’s people are what make it successful. While many business owners know that, PEOs have the hard data and experience to translate that into profits. By investing in employees, businesses are growing their bottom line and making their businesses more resilient.

To learn more about how a PEO can help position your business for success, contact LBMC Employment Partners today.