Partnering with a PEO allows you to focus on your business, knowing that HR management, employee benefits, risk and compliance, and more are taken care of.

As a small to mid-sized business owner, many responsibilities can fall on your shoulders. To successfully run your business, you must manage your employees, figure out yearly benefit packages, handle day-to-day interpersonal challenges, and more! On top of this, you can’t grow your business without some time to focus on how you can adapt and increase your revenue. Fortunately, you’re not alone. Partnering with a PEO can allow business owners to get the support they need so that they can focus on other important items. Get “back to your business” by utilizing a PEO so you can concentrate on growth.

When you own a large business with a lot of buying power, many essential business tasks become a lot easier. Purchasing competitive health insurance plans for your employees is a breeze because you have a sizeable number of employees to sign up. If you have a large team, you probably have robust in-house HR and payroll teams who can monitor your compliance, oversee employee issues, and make sure paychecks go out on time. But these items can be expensive for small to mid-sized businesses. That’s where a PEO can be incredibly helpful.

A PEO (which stands for Professional Employer Organization) combines your employees with the other small businesses that have already signed up with the PEO, allowing your company to access the buying power of a business with hundreds of employees. This helps to leverage a buying advantage for these businesses because the size of their companies meant they never had access to these advantages before. As a business owner, you still have full control over your business, and you also have the advantage of accessing premium employee benefits at significantly better rates on things like employee benefits. It’s the best of both worlds! Below are just some of the headaches that a PEO can alleviate for a small business owner.

Access fortune 500 employee benefits for a fraction of the cost

As a small business owner, affording competitive benefits can be extremely difficult. If you have a small team, it’s often not feasible to purchase a comprehensive benefits package for your employees. However, without top-notch benefits, it’s also difficult to hire the best talent for your open positions. Additionally, you may not retain employees for the long run with inferior benefits. This is one of the best advantages of partnering with a PEO. Your buying power is much stronger than your company by itself, and you can offer your employees great benefits at a fraction of the cost on the open market without the support of a PEO.

HR management for all your company’s needs

Having an HR department is extremely important as they handle many crucial functions in your company. They assist with onboarding new employees, are there to answer any questions your team members may have about things like benefits or PTO, and can mediate and resolve any interpersonal conflict that may arise. For small and mid-sized business owners, hiring a full-time HR professional is often out of their budget. Many business owners try to take on these responsibilities themselves, which means they might be stretched too thin. It can be difficult, if not impossible, to keep up with HR administration and work on growing and managing your business at the same time. With the help of a PEO, your HR needs are taken care of. PrestigePEO can provide you with a dedicated team of specialized HR professionals who will relieve you of the burden of compliance, onboarding, employee benefits renewals, and more. You can get back to business knowing that your HR needs are taken care of.

Risk mitigation and workplace compliance guidance

As a business owner, there are many legal restrictions and guidelines that you must follow to stay compliant. These policies are updated frequently, and without someone whose sole job is to ensure that your company is staying compliant, it is very difficult to keep up with the current regulations. It can be very easy to make a potentially fatal mistake that could cause you to lose everything. Risk and compliance are hugely important to any business, and a PEO is a perfect answer to your compliance needs. With compliance experts who are up to date on the latest laws and regulations, you will be immediately updated by your HR team when you need to change a policy to remain compliant. You can rest assured that your needs are taken care of, and you can concentrate on growing your company.

For small and mid-sized business businesses, a PEO could be your secret weapon to solve many of your struggles. You don’t have to do everything alone! From employee benefits, HR management, 401k administration, risk and compliance, and more, we can help you get back to business. You can rest easy knowing that these important tasks are taken care of by specialists in each area. Run across a tricky business issue and need to know how your local and state laws affect it? Simply call up your Prestige compliance specialist. Can’t bear the idea of another messy open enrollment period and the difficulty of negotiating the prices you need? We’ve got it – at PrestigePEO, we will completely handle your renewal negotiation and benefits administration. If you’re interested in learning more about how PrestigePEO can support your organization, contact us today.