One observation that can be made about the modern-day workforce is that many Millennials are showing a great interest in working for startup companies and entrepreneurs. However, employee benefits are still a must, and many startups and small businesses can’t always provide the best benefits if any at all.
A Professional Employer Organization (PEO) can help save the day. The benefit of being part of a PEO is that, no matter the company size, employees will be part of a larger benefits pool, providing lower benefits costs, and a lower cost per employee for all HR services.
Lots of younger generation employees desire a flexible environment, personal attention from leadership, and hands-on opportunities to make a real difference that a startup company or entrepreneur can often provide. They also desire the best possible quality of life for themselves and their families. A PEO can provide valuable benefits that will help small business employees experience many of the same advantages as they might while working for a larger corporation.
Six top benefits options available through a PEO
- Negotiation of Contract Variables and Rates
- Tailor-Made Healthcare Packages
- High-Level Customer Service
- Ongoing Counsel
- Employee Attraction and Retention
- Health and Wellness Support
A PEO also gives small businesses the ability to offer competitive 401(k) and insurance plans that are typically expected at larger companies, which can give employers an advantage in recruiting top talent. Even more, PEOs can offer several added values for employers to make available to employees, including telehealth services and Social Security and Medicare assistance, as well as home, renters, and auto insurance at preferred rates to employees.
LBMC Employment Partners offers a free PEO Guide to help employers understand what PEOs are, how they work, why they can be good, and how to pick the right partner to help make your business better. Download the free guide HERE!
By enlisting LBMC Employment Partners as your trusted PEO provider, we can help you recruit and retain top talent and be better positioned for success. Learn more by contacting us here.
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.