[aa_subtitle_display]If you’re running a business, you know that you need to get the maximum value out of all of your resources. One of your greatest sources of resources, and your greatest ally, is your PEO. You might be using a PEO for payroll services or for employee benefits, but there is so much more that your PEO could be doing for you. Here are just a few of the (possibly surprising) ways to get more value out of your PEO relationship.
Recruiting and Hiring
A PEO can be your human resources department so that you don’t have to have one in-house. They administer benefits, do payroll – but did you know that they can go further than that? A PEO can recruit new talent, interview, hire, and even train new employees on HR manuals and company policies. A PEO may have access to different pools of candidates that you can’t reach through job postings or classified ads.
Just like a PEO can train new employees on policies, they can train existing employees. PEOs may be able to train employees on human resources policies and best practices for health and safety. This will create a safe, comfortable environment for your employees and minimize the risks of lawsuits and worker’s compensation claims for your company. They may even offer leadership training for the managers in your company so they can learn tactics to better lead employees, making your business run more smoothly.
It can be tough to figure out how to best spend your marketing budget to best attract new clients. Your PEO may offer marketing services. If not, they may at least be able to offer some guidance or may have resources that can help you to realize your marketing needs.
Any good PEO is going to help you to avoid legal trouble in the first place by ensuring that your company meets regulations and stays up-to-date on labor laws, but there is always a risk that legal matters will arise. The PEO will take the lead on any employee claims that come up, ensuring that the claim is handled carefully to work toward the most positive outcome. Many PEOs have a legal team that can assist you if needed, or they can recommend a lawyer to you.
Recognition and Accreditation
Some of the accreditations your PEO has from different organizations may also apply to your company. Or, the PEO may be able to help your company to earn accreditation and recognition from organizations. These accreditations will improve your company’s image and reputation, which can attract more customers.
Whether you have a small business working with a local PEO or an expanding company working with a national PEO, your partner may be able to recommend vendors to you. This is especially useful if you’ve just expanded into a new area and are unfamiliar with vendors and businesses there.
PEOs can be so much more than just a payroll administration company. Ask your PEO what other services they provide (especially since some may be free with the package you already have.) If you haven’t yet partnered with a PEO, consider working with a consultant to compare the services each one offers and the value your company can reap from each one.