For start up companies, the American dream can be summarized in a single word: GROWTH. In order to have growth, you need more quality employees and PEO’s can be a valuable business partner to help your company grow and succeed.
Statistics show that companies that outsource HR functions to a PEO are 50% less likely to go out of business and grow an average of 7-9% faster than those that do not use a PEO. PEO’s can also help young companies preserve precious capital, saving $2,000 per employee per year.
Making the right hires and keeping valuable employees is essential to every start up’s journey to success. PEO’s can help even the smallest companies offer an affordable and attractive benefits packages that rivals that of much larger companies, including PPO health insurance, dental, vision & life insurance and 401(k) plans.
Companies that use PEO have 23-32% less employee turnover, as quality benefit packages show your employees that you value them by making their health and well being a priority.
When it comes time to scale up, PEO’s give your company a competitive edge with applicant tracking systems, providing new hires with a streamlined onboarding process, providing employee handbooks compliant in the states the employees reside in, providing secure apps and web portals for employees to view their payroll, benefits, 401(k) and much more.
PEO’s also help companies mitigate many of the risks associated with scaling up by helping companies reduce the risk of being hit with a costly employment lawsuit.
Get information on how PEO can help your company.
