Robust benefits packages are one of the most sought-after things for potential employees. In today’s hot job market, employees can be choosy about what jobs they take, making quality benefits options critical to capturing and retaining top talent. Unfortunately, small companies have limited bargaining power and are not always in a position to offer the competitive benefits packages that a Fortune 500 company might.

A Professional Employer Organization (PEO) levels the playing field for small businesses, giving them access to discounted employee benefits programs that rival the quality and flexibility of benefits plans typically reserved for large companies.

Advantages of Using a PEO for Benefits

Hassle-Free Contract Negotiation

A PEO can relieve the stress involved with negotiating contract variables and rates. Through up-to-date analysis of industry trends, a PEO can make sure small businesses receive the best possible benefits and rates. Because PEOs represent a large group of clients, they are better positioned to negotiate with large insurance companies than a small business with a few employees.

Tailor-Made Healthcare Packages

Small businesses often must settle for a one-size-fits-all healthcare plan for their employees, but a PEO can offer more options. In 2019, employees care more about having a healthcare package that suits their specific needs. PEOs track the latest trends and predict what employees are looking for, such as access to mental health benefits and employee leave policies.

Customer Service and Technology for Employees

Using a PEO allows in-house human resources managers to step away from managing employee benefits. When employees have questions about their benefits packages, they can contact the PEO directly. This streamlined communication benefits both the HR department and employees. Many PEOs now use online HR platforms to allow employees to access their benefits information from anywhere.

Ongoing Counsel

A PEO’s work doesn’t just stop once employee benefits packages are negotiated. The PEO will continue to ensure that employees have the best possible benefits packages through continued research and counsel.

Employee Attraction and Retention

The high-quality benefits packages that PEOs can provide allow small businesses to attract top talent. Great benefits are also the best way to keep employees at a company, preventing high turnover rates.

Health and Wellness Support

More companies today are using health and wellness programs to reduce healthcare costs and keep employees healthy. These programs are sought after by many job hunters and provide many added benefits to companies that use them, but health and wellness programs are often too complicated for small businesses to manage on their own. With a PEO, small businesses can offer health and wellness support without using up the time of the HR department.

So, are you ready to experience all the benefits a PEO has to offer? Contact us today to discuss how LBMC Employment Partners can help your business offer the best benefits packages possible.