Choosing the Right PEO for Your Business
When small businesses are looking for a solution to manage payroll, HR, and compliance, a PEO can be the best option. Choosing the right one for your business is a little more complex than it first seems. Thankfully, the team at Benely have put together this short guide to help you sure you get the right partnership for your business.
The National Association of Professional Employer Organizations has conducted extensive research into the efficacy of PEOs for small businesses. They estimate that using a PEO can help a business grow almost ten percent faster than a business without a PEO partnership and that they’re approximately 50 percent less likely to fail compared to small businesses in general. A PEO partnership can also help to dramatically reduce employee turnover.
What Questions to Ask Yourself
These three questions are essential to ask yourself before considering if a PEO is right for you and your business.
What Benefits do They Offer?
A PEO will generally provide access to health insurance as part of their services. The providers that a specific PEO works with can vary massively and is something to consider before signing on the dotted line with any company.
At Benely, our network consists of the biggest insurance carriers in the United States. However, we’re not limited to just the major players as we understand that not all solutions are right for every business. We trawl our vast network to match you with the best plan for your business.
What Technology Does the PEO Provide?
When you’re choosing a PEO to help with HR, you want the HR to be straightforward and easy for you and your team to use. There’s no point overhauling your HR if it just ends up taking your team a long time to familiarize themselves with it.
We partner with Insperity, Trinet, and Rippling and are sure that the unique blend of HR solutions that we are able to deliver will be exactly what your team needs. Our partners’ solutions are famed for their ease of use and ability to seamlessly integrate into existing systems.
What Kind of Support Will You Get?
A PEO should have your back when you need it the most. Payroll and compliance issues can emerge that are often impossible to predict. Knowing that you have industry experts in your corner to help you manage these issues provides unparalleled peace of mind.
At Benely, we know that the world of health insurance, HR, and compliance is ever-changing. As such, we only partner with industry-leading companies that we know can be relied upon when necessary.