PEO, Your Next Trusted Advisor

Posted by Lee Yarborough on 2/23/16 10:00 AM
Lee Yarborough
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Posted on: February 23, 2016

As a business owner, you work with many trusted advisors to keep your company on track. You have a banker to help with financial needs and daily banking requests. You have a CPA to monitor your profit and handle your taxes. Attorneys are also trusted advisors assisting with the different legal issues that a business encounters. But do you have a PEO? A Professional Employer Organization (PEO) is not only a trusted advisor but a partner in the success of your business. A PEO provides a one stop shop for all your HR needs and allows you to focus on your core business.

According to economists Laurie Bassie and Dan McMurrer, small businesses that partner with PEOs benefit greatly. Compared to companies that do not use a PEO as a trusted advisor, PEO clients experience the following:

  • 9% Higher Growth Rate
  • 14% Lower Employee Turnover Rate
  • 50% Lower Business Failure Rate
  • 2X More Participation in Retirement Plans
  • 21% Savings on HR Administration
These numbers show that when small and mid-sized businesses use a PEO, they grow faster, survive longer and have a stronger workforce. Now is the time to add a PEO to your group of trusted advisors.

Source: NAPEO publications: Professional Employer Organizations: Keeping Turnover Low and Survival High, September 2014 and Professional Employer Organizations: Fueling Small Business Growth, September 2013.

 

Topics: PEO, Small Business

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