Starting a small business can be exciting, while at the same time a number of business and human resource concerns will inevitably come up. This can cause things to become overwhelming and confusing, even for a seasoned entrepreneur. A professional employer organization, or PEO as it’s more commonly referred to, can be the solution to better managed human resources when a start up business wants to be profitable right out of the gate.
Very often, small business owners may mistake a PEO for temporary staffing agency or a payroll administration firm, but a PEO is so much more. Think of a PEO as total human resources management partner that focuses on your success as a small business owner. When it comes to small business success, the sooner you can get a handle on “people” matters, the more competitive and lucrative your start up can be early on.
What a PEO Can Do For Your Business
Now that you have a better picture of what a professional employer organization is, consider the advantages of working with a PEO as you learn how to start a small business from the ground up. Capital management, payroll and benefit administration, recruiting and HR, as well as financing business growth – these all take up large sums of time and money that you may find difficult to handle at first. You’ll still have the ability to maintain control over your employees while reducing the HR liabilities via PEO outsourcing. It’s uniquely advantageous to hire a PEO to take care of these internal issues so you can concentrate on the bigger picture without struggling to make ends meet.
More Benefits of Using a PEO When Building a Business
There are some additional benefits of using a PEO as you expand and build your small business. These can include:
- Access to a central human resource management system that provides employee, payroll, and performance management support.
- Competitive benefits available through a network that the professional employer organization gives you to help manage health care insurance and incentive costs.
- In this co-employment arrangement, the PEO assumes many of the HR liabilities that drastically reduces your worries and costs of recruiting, employment, payroll, and more.
- On-demand HR consulting for all your human capital questions, concerns, and situations (invaluable because you want to hire and retain the best!)
Looking for the Best Small Business PEO Services
When searching for the best PEO to serve your small business in Florida, New Jersey, or Pennsylvania, there are several services to look for that can help your business grow. These can include access to a dedicated Human Resource expert for questions about any area of your small business employees, an easy-to-implement benefit and payroll administration system, and a pricing system that makes sense for your business needs. If you plan to offer health care insurance to your employees, then you will also want to make sure that the benefit network is stable and provides coverage for your area. Lastly, look for a PEO that is eager to give you professional references to learn more about their reputation.
Want to learn more about the benefits and factors to look for when choosing a PEO to grow your small business? Request a full evaluation of services by SourceOne Partners online or call 561-674-0748 to get educated about professional employer organizations and discover how a PEO can support your small business goals.