Last week we released our very own e-Book, Get More Done with a PEO, which goes into detail about how a PEO can help your business grow. In last week’s blog, we discussed what a PEO is and some of the tasks that are typically delegated to a PEO. You can find more information about those specific topics here: https://www.fullstackpeo.com/blog/ebookrelease
Now that you know and understand what a PEO is, there are a few other questions to address when considering if outsourcing HR is the right choice for your company.
Questions such as: Why should your outsource your HR to a PEO? How will it help your business? How will it help your employees?
Let’s face it – running your company is time-consuming. You’ve got a lot on your plate, from scaling and marketing to figuring out product-market fit. Partnering with a PEO frees up time to focus on running and scaling your business.
When we interviewed Meredith Gradle, CEO of Iris Works recently, she said this best: “FullStack helps me to be a fulltime CEO and business owner as well as a full-time parent. And honestly, I wouldn’t know how to do it without them. It gives me flexibility when I come home I can actually be at home and be present with my kids, and I don’t have to worry about all the things FullStack handles for me.”
You didn’t start your company to spend half your day dealing with HR issues. You started your tech company to solve a problem — to introduce an innovative approach to an established system.
PEOs handle the transactional HR items that are important for your business to run smoothly. A PEO can also work with your company’s existing advisors on your behalf, freeing up more of your valuable time. By doing so, your company can experience growth more quickly. The National Association of Professional Employment Organizations found that companies that use PEOs grow 7 percent to 9 percent faster than companies that don’t use PEOs.
Reclaim Valuable Time
When you start your own company, you don’t have the luxury of walking into an established corporate structure with support staff who can answer questions and explain income taxes or the difference in benefits packages. Chances are, you don’t know the first thing about mitigating employment risks or insurance. Why spend time researching information about complicated HR issues when you could work with an advisor that has helped companies just like yours?
You and your employees gain access through a PEO to an experienced HR staff that is knowledgeable on local, state, and federal taxes and regulations. The PEO will make sure that the proper amount of money is withheld from your employees’ paychecks each pay period.
Avoid HR Headaches
Are you familiar with federal anti-discrimination laws that apply to prospective and current employees? What about safety laws or wages laws? Chances are, you’re not. You know the tech industry, not issues that fall under the HR umbrella. But a PEO knows how to comply with these laws and others that impact your company and employees.
Create a Better Employee Experience
Working with a PEO that specializes in your industry and marketplace benefits both you and your employees. You save time both up front and during your partnership because the PEO already understands what challenges a small, tech company in the Midwest faces. A PEO in the tech industry has experience working with various early-stage companies and the people needed to scale those companies. It will already know what benefits you’ll need to offer to attract and retain top talent.
Do you want to reclaim valuable time, avoid HR headaches, and create a better employee experience?
If this sounds like you, then a PEO might be the right option for your company and employees. Find more information about how a PEO can save your company time, reduce risk, and create a better employee experience in our e-book, “Get More Done with a PEO.”