Everyone knows that businesses don’t keep full time tax accountants or general counsels on hand. Why is that? Its expensive and with a little luck you will only need them from time to time. Wouldn’t it be great if you could get all of your ‘on-demand’ non-core services that way? That sort of thinking is why the Professional Employer business has grown so quickly and even more so since the passage of the Affordable Care Act.
The truth is that every business depends on outsourcing for all sorts of things everyday. Every business uses outside professionals for specialized services. This is true with things like marketing, IT and increasingly human resources. When complex or sticky issues like HR problems or employee health matters pop-up, wouldn’t it be calming to have a trained expert on-call? That’s where a PEO comes in. A PEO has credentialed HR specialists, employee benefit advisors, and safety experts on-call, just in time, and only as much as you need them.
When you partner with the right PEO, both you and your employees get your own little slice of a top-notch HR and benefits team. They use the best HR technology built to support both employers and employees live by phone or self serve via web application. It’s simply not possible for an average employer to do this any better or cheaper. But why even try that when there are so many great PEOs to choose from. With the right PEO you and your people will get better premiums and all the HR support you want, but only when you need it.
It turns out that the real trick with PEO is how you go about selecting the right one. You should always avoid the number one mistake. The top mistake is falling for the first PEO that comes calling on you. Your insurance agent sells insurance not PEO. First be sure the PEOs you are talking to really work with your type of business. Next, its a lot of work but be sure to get at least 3 competitive bids. Remember you are going to have to live with your PEO vendor for a long time so do your due diligence on all three bidders. Now there is an alternative to all that. We’ve already put everything together for you over at PEO Specialists. We are experts at helping businesses consider and evaluate HR outsourcing. It’s a free service, it’s all we do and it’s guaranteed.