What Your New Business Needs Most

When opening a business, partnering with a professional employer organization (PEO) is the best way to handle critical details

• Starting a business requires many time-consuming and labor-intensive tasks, such as setting up payroll and selecting employee benefits providers
• Working with a PEO frees business owners to focus on revenue-producing operations and strategic planning
• Partnering with a PEO from the beginning sets you on a path to succeed and grow
• A PEO can extend a small business’s options in the benefits and insurance markets
• A PEO provides a small business with HR industry experts and leading technologies to manage their administrative needs

Starting a business is a serious undertaking with many moving parts. No entrepreneur can or should do it alone.

Many business owners wait until their Human Resources (HR) and compliance needs become overwhelming before seeking support. Instead, there are many reasons to begin a small business journey by outsourcing these functions.

Outsourcing allows knowledgeable professionals to handle business administration complexities, using the latest tools and access to industry-leading resources.

Here are six compelling reasons to use a Professional Employer Organization’s (PEO) experts to guide your company from its start.

Free up your resources

When HR and regulatory functions are outsourced, business owners can focus on their company’s mission, products or services and bottom line. Focusing the company’s leadership on strategic and revenue-producing activities is vital in the early days of running a company.

By outsourcing to a PEO, business owners will not be overwhelmed by the many HR and compliance responsibilities that must be managed each day. Some specific business-opening tasks a PEO can assist with include:

• Setting up payroll and choosing pay disbursement options
• Drafting employee guidelines and handbooks
• Choosing benefits providers
• Setting up benefits administration processes
• Choosing insurers for unemployment and workers’ compensation insurance coverage
• Advising on initial and ongoing compliance matters

By entering into a relationship with a PEO, a small business will retain control over day-to-day managerial decisions, with the benefit of having a business partner share the risks and responsibilities of managing administrative details.

Partner with experts

Many small businesses cannot afford to staff an entire HR department. A PEO is an affordable alternative that can either support an existing staff or be used in place of an HR department. When you partner with a PEO, you will not have to invest resources into finding the best HR professionals for your company.

A PEO employs people who are experienced in all aspects of HR management and employee benefits administration. They will stay current on employment laws, regulations, health care reform and compliance requirements – so you don’t have to.

Enhance your offerings

When you are shopping around for benefits providers, your company may have limited access to the best “perks” because of its size. A PEO offers small businesses buying power and access to employee benefits typically only available to large corporations.

Among these enhanced benefits are 401(k) plans; comprehensive and affordably priced health, dental, vision and life insurance; and dependent care.

An attractive benefits package can help in recruiting and retaining employees.

Gain purchasing power

Starting a business requires a large amount of up-front capital. Some of this will go toward employee administrative costs, such as insurance and benefits. A PEO will help clarify these costs and find affordable options.

As health insurance costs continue to rise, small businesses are at risk of not providing adequate coverage for their employees at reasonable rates. PEOs can help lessen this burden because of their experience and expertise. A health insurance expert can work with your company to get you the best possible plans and rates.

Gain access to the best tools

Working with a PEO gives small-business owners access to the industry’s best methodologies and tools. Instead of managing these tasks in-house using off-the-shelf software, why not let the experts handle it?

Relying on a PEO to handle your company’s HR tasks will allow you to reap all the benefits of modern technology without having to do it yourself. Technology provides secure, automated, efficient ways to handle most administrative functions, including managing payroll and payroll tax responsibilities, time off and leave requests, analytics, reporting and employee onboarding.

Make the best start possible

A PEO offers new business owners the best way to “begin as you mean to go on.” Having the right processes in place from the start will ensure that nothing is overlooked as the business grows. 

Partnering with a PEO can help make a company’s path to growth easier. A PEO-client relationship includes frequent policy and process reviews to ensure they are keeping pace with your developing company’s needs. As your HR needs become more complex, your PEO will recommend additional services.

As your business grows, you will also want a strategic partner to help with longer-term planning. A PEO is a highly informed, professional resource, especially regarding tax matters, financial concerns and compliance issues.

Let StaffLink Outsourcing help

StaffLink Outsourcing can help you get your company off the ground the right way and guide you toward growth. We advise on benefits packages, hiring and retention strategies and a variety of other HR duties such as payroll, risk management, compliance, developing policies and procedures, and employee training.

StaffLink Outsourcing has been in business for 25 years, and we have the lowest attrition in the industry. We are devoted to our clients and deliver white glove customer service. Call 954.423.8262 for a quote, and follow us on Facebook and LinkedIn for more information and resources relating to your HR needs.