Growing your business is your top priority, but there are some common misconceptions that prevent you from reaching your full potential — specifically, whether to engage with a professional employer organization.
We totally understand being hesitant about outsourcing HR! That is a vital aspect of your business; many business owners feel the same way. Before partnering with a PEO, doing some research is always a good idea. After all, co-employment can be a foreign concept to many people.
In this blog, we clear up the most common misconceptions about working with a PEO, so you have accurate information to make the best choice for your organization’s future.
Myth #1: You’ll Lose Control of Your Business
Not true! Teaming up with a PEO gives you more control over the important money-making aspects of your business. You get to delegate HR tasks to your PEO partner and concentrate on expanding your business, while they manage the less interesting tasks. This gives you freedom to innovate and generate more revenue.
By outsourcing the HR functions to a PEO, you can guarantee that your business complies with all relevant laws and regulations. You also get the added benefit of having the backup of your PEO’s expertise in the field. Your PEO can even provide access to better employee benefits and cost-saving strategies, allowing you to maximize efficiency and profitability.
Myth #2: You’ll Have to Let Go of Your HR Team
Partnering with a PEO does not mean sacrificing your HR team! PEOs are intended to complement the work your human resources team already does. With a PEO partner, your HR team has more time to focus on strategic initiatives, while the PEO handles administrative tasks.
By outsourcing services to a PEO, your HR team can make the most of their time, while the PEO helps manage day-to-day operations. This provides a more efficient and effective way of managing your business and employees.
Myth #3: You’ll Lose Your Status as a Small Business
Did you know that teaming up with a PEO won’t change your small business’s size status? That’s right, the Small Business Administration recognizes PEOs as separate entities from their clients. And partnering with a PEO can actually give your small biz the edge it needs to compete with the big dogs.
PEOs offer a ton of services like HR management, payroll processing, and benefits administration that can save you time and money. Plus, you’ll have access to sweet group rates for benefits like health insurance that you might not be able to afford on your own. This can help you attract and keep top talent, which is important for small businesses that want to grow and thrive.
Myth #4: Your Employees Won’t Embrace the Change
A lot of business owners think their employees won’t like it if they partner with a PEO. Change can be tough, so it’s normal for employees to feel a little nervous about something new. But PEOs know how to handle these kinds of transitions and can help guide employers through any resistance from employees.
They work with you to make sure everything goes smoothly and can also help explain any changes to your team. Plus, they offer some cool stuff like better healthcare and retirement plans, as well as training programs that help employees grow and develop new skills.
Basically, PEOs can ease any worries you have about your employees being resistant to change. They’re great at communicating the benefits of partnering with a PEO and can help your team feel more engaged and satisfied by offering extra perks like training and development opportunities. So don’t stress – a PEO might be just what your business needs to take things to the next level!
Myth #5: You Lose Control Over Hiring and Firing
There’s a misconception that partnering with a PEO means surrendering control over key decisions on hiring and firing. However, this couldn’t be further from the truth. In reality, PEOs empower business leaders by giving them greater influence over staffing matters. As the owner, you retain complete authority over these critical aspects of your operations.
The role of PEOs is to provide guidance and support in making HR decisions that are in line with your company’s goals and values. By collaborating with a PEO, you can have confidence that you’re making well-informed, strategic choices that will benefit your business over time. Thanks to the expertise and resources of your PEO partner, you’ll be able to navigate HR challenges more effectively, ultimately driving the success of your organization.
PEO.com Helps You Find the Best Solution for Your Business
Now, we know that selecting the right PEO for your business can be overwhelming. We’re here to offer assistance and guidance! Our goal is to simplify the process by offering educational resources and connecting you with our network of trusted PEO partners.
We’ve carefully selected our partners based on their expertise and experience in serving businesses like yours. With our guidance, you can find the perfect PEO that aligns with your specific needs and fits your budget.
The process is straightforward. You can reach out to us to let us know what you’re looking for, and we’ll provide you with a variety of options and competitive pricing within 24-72 hours. Our team is available to address any questions or concerns you may have and assist you in making the best decision for your business.
We value honesty and transparency in our interactions with clients, which is why we provide all the necessary information to help you make an informed decision about your PEO selection.
Partnering with a PEO can benefit your business in many ways. Don’t let these common myths prevent you from taking advantage of their services. Contact us today to learn more!