From transitioning staff to work remotely to keeping up with new and changing COVID-related compliance regulations, employers are relying on their HR teams more than ever before during uncertain and rapidly changing times.
As the role of Human Resources continues to evolve, here are four ways a PEO can help your HR team navigate change and prepare your business for what's ahead.
Rethinking HR Processes. From new tools to enable staff to work from home to tools to measure the productivity and the employee experience, HR teams at large and small companies alike are learning to embrace technology and new processes that are designed to increase efficiency and reduce costs. How a PEO can help: Partnering with a PEO can help you gain a new perspective on cost-cutting decisions and new processes that may be right for your business. According to a report conducted by the National Association of Professional Employer Organizations (NAPEO), PEOs provide access to more HR services at a cost that is close to $450 lower per employee, compared to companies that manage their HR services in-house.
Reassessing Roles and Forecasting Skills. When budgets are tight and with so much uncertainty, hiring new talent may no longer be an option. HR will need to look internally to train existing employees and be proactive about forecasting skills to prepare for any future gaps. How a PEO can help: Building the right team, with the right skills, is essential for growth. Partnering with a PEO improves productivity. You can remove or add services to fit the needs of your business. In the beginning, your business may only need help with payroll. But as it grows and you add employees, your business needs to grow as well. PEOs hour business navigate HR at every growth stage.
Keeping Employees Motivated. Even after the pandemic ends and employees return to their workplaces, flexible and remote work will continue because of its cost-saving benefits. Employers will have to find new ways to ensure productivity and keep workers motivated. How a PEO can help: Partnering with a PEO is much like gaining access to a full-service HR division, with a team of experts who are knowledgeable about employment laws and are up to date with changing regulations, and can identify ways to keep employees motivated while improving productivity. In fact, businesses that partner with a PEO experience significantly higher employee satisfaction as well as lower rates of employee turnover.
Focus on Mental Health and Well-being. COVID-19 brings the importance of employee well-being, including physical and mental health, to the forefront. HR will have to develop new wellness-focused strategies to help employees, particularly when working remotely, deal with increased stress and added concerns of constant changes. How a PEO can help: Studies show that employees are more loyal and trust their employer when offered the right benefits. However, due to costs, high-quality benefits are out of reach for many small businesses. By working with a PEO, employers have access to quality health insurance options with stable and affordable rates. This is because of the PEO’s ability to pool employees together into one group to negotiate better health plans at lower rates.
Can a PEO help your business? The pandemic presents a number of new challenges for employers and the expertise of your HR staff may be limited and, therefore, not equipped to support your business as it did it the past. Change is inevitable, and a certified PEO, like Propel HR, can help you navigate uncertainty and develop a successful long-term strategy by assessing your HR processes, and recommend ways to reduce risks, save money, and stay compliant.
Concerned about reopening safely? To help businesses like yours reopen with confidence, we created the COVID-19 Back to Work Employer's Toolkit. Inside you'll find all of the important resources and paperwork you need, plus the expert HR guidance to help you reopen with confidence while the pandemic is still active.
About Propel HR. Propel HR is an IRS-certified PEO that has been a leading provider of human resources and payroll solutions for more than 20 years. Propel partners with small to midsized businesses to manage payroll, employee benefits, compliance and risks, and other HR functions in a way that maximizes efficiency and reduces costs.