Reinaldo Lopez on February 28, 2014
How PEOs Can Increase Small Business Productivity
Are you overwhelmed by the everyday tasks in your business? Whether you’re a new start up that needs guidance, or have an established business that’s growing – you can get help with the workload by using a Professional Employer Organization (PEO).
They provide an outsourced HR solution and handle tasks like payroll processing, benefits management and personnel administration – everything you need to keep employees happy and your organization compliant. Here are some ways that PEOs can increase small business productivity and promote long-term success.
Attracting Top Tier Talent
To truly thrive in any industry, your company needs a team of qualified professionals who are experts at what they do. Your team members must possess the right skills and talent, all while having the dedication to consistently perform their jobs at a high level. One of the best ways to attract top tier talent is for a business to provide benefits like a 401(k) or similar plans, health insurance, life insurance and flexible spending accounts.
Many times, these benefits are an influential factor for professionals when deciding between employers. Because retirement and similar plans are relatively rare for smaller businesses, having some in place can be a great selling point.
According to a 2011 Towers Watson Survey, “47 percent of employers cited retirement benefits as an important reason to stay with their current employer, and 35 percent viewed retirement benefits as an important reason they decided to work with their current employer in the first place.”
When a small to mid-sized business is able to use these benefits as leverage, it can expect to acquire a knowledgeable and capable workforce. Consequently, these employees should have what it takes to streamline daily tasks and it’s realistic to experience expedited growth. There is also a stronger likelihood of a higher retention rate among employees because of deeper job satisfaction. With a lower turnover rate, team chemistry can be developed and overall small business productivity should increase.
Gain Freedom to Focus on Other Key Tasks
By allowing HR specialists to handle arduous and sometimes difficult tasks like employee training, safety management and performance evaluation, it can quickly reduce your workload. Rather than spending an exorbitant of time in these areas, you have the freedom to work on other things that grow your company – like improving your marketing and your internal processes.
Whether it’s giving customers or clients more attention or launching a new marketing campaign, you can increase small business productivity. You can rest assured that their human resources tasks are left in the hands of qualified specialists. With an outsourced HR solution offering personalized service, your business can get the specific package needed to maximize efficiency.
Having happy employees and not being bogged down with excessive responsibilities are important for your business to thrive. Fortunately, outsourcing to the right PEO can be a huge help and provide the necessary tools to rise above the competition.
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