Professional Employer Organizations (PEOs) provide a comprehensive HR solution for companies of any size, particularly during transition periods. As a company grows, managing HR tasks while maintaining company culture can become more challenging. PEOs excel in this area by offering a range of services to help businesses manage HR tasks and enhance their employees’ overall experience.
Here are some ways that a PEO partnership can help businesses scale:
Among the many benefits of joining a PEO, the advantage of time may be the most impactful. A PEO partnership can help businesses streamline their HR tasks and maximize their leadership team’s productivity. With a PEO’s support, businesses can delegate routine tasks such as payroll processing, benefits administration, and compliance requirements, freeing up valuable time for leaders to focus on building stronger relationships with employees, nurturing their development, and fostering a thriving company culture. This ultimately leads to improved productivity, competitiveness, and profitability, while ensuring that businesses comply with regulatory requirements and offer their employees a rewarding work experience. With a PEO’s efficient and effective HR solution, businesses can achieve greater success and growth without sacrificing their core values and priorities.
In 2023, studies have shown that company culture plays an increasingly important role in attracting and retaining top talent. In fact, a recent survey found that 81% of employees consider a company’s culture before applying for a job, and 87% say that a strong workplace culture makes them more likely to stay with a company long-term. This is where partnering with a PEO can make a difference.
PEOs have been found to decrease employee turnover by as much as 14%, thanks to their ability to provide competitive employee benefits packages and streamline HR processes. By partnering with a PEO, businesses can ensure that their employees are satisfied with their workplace culture and are more likely to stay with the company for the long haul.
Employees today are looking to move away from what they consider to be corporate culture. The larger your company grows, the more mechanical and impersonal it could become. A PEO allows you and your leadership team to concentrate on what makes your company unique, and to put time into keeping it that way. A PEO partnership gives you the support to take care of your employees’ well-being in both their personal and professional lives while maintaining company culture and continuing to help your business grow—without the fear of leaving your employees’ best interests behind.
A PEO partnership can be a game-changer for businesses looking to manage their HR costs more effectively. As companies grow, the costs associated with providing employee benefits can become a significant burden on their bottom line. By partnering with a PEO, businesses can access more affordable employee benefits packages, including health insurance, retirement plans, and other perks that are typically only available to larger organizations. This can help businesses attract and retain top talent, giving them a competitive edge in their industry. Additionally, a PEO’s economies of scale mean that businesses can benefit from lower costs per employee for all HR services, freeing up resources to invest in other areas of the business. Ultimately, by partnering with a PEO, businesses can achieve cost savings and provide their employees with a comprehensive benefits package, without sacrificing their financial stability or competitiveness.
All content and services on this page are offered by LBMC Employment Partners, LLC. LBMC Employment Partners, LLC, is part of the LBMC Family of Companies and is an independent entity with services and products being provided exclusively by LBMC Employment Partners, LLC.
