Understanding HR Outsourcing. Is a PEO Right for Me?
Whether you run a small business with five employees or command a large corporation with tens of thousands of workers, your core human resources (HR) responsibilities are the same – payroll processing, benefits administration, strategic recruiting, employee retention, employer branding, succession planning, employee development and more. "Many small business owners are overwhelmed running their companies. They are required to wear several hats but don't have the expertise or resources to be everything to everybody," said Matthew Walus, G&A Partners' Vice President of Sales - Midwest, during our latest webinar, Understanding HR Outsourcing: Is a Professional Employer Organization (PEO) Right for Me? "A professional employer organization (PEO) manages day-to-day HR functions for businesses, like recruiting, payroll administration, and employee benefits procurement and administration. That frees up time for business owners to focus on value-added activities, such as strategic growth initiatives, acquiring and retaining customers, and hiring and training employees while maintaining control of their company. It's the best of both worlds."
The PEO industry traces its roots to Florida in the 1970s when staffing companies started looking for ways to help small businesses manage the cost of health benefits, worker's compensation, and taxes so they could compete with larger companies. After a rocky start, industry leaders worked with government agencies to establish necessary regulations and controls that benefitted business owners and PEOs alike. Now there are nearly 500 PEOs providing services to 173,000 businesses, according to Walus. G&A Partners is the largest privately held PEO in the U.S., with approximately 85,000 worksite employees and 3,000 small and medium-sized business clients.
Walus said business owners have options when it comes to outsourcing HR services. Some companies hire an HR services provider to assist their in-house HR team with a specific task, such as payroll administration. Others require a comprehensive HR solution. In this webinar, you'll learn more about the benefits of working with a PEO and find out:
- The differences between HR outsourcing service models, including the PEO, Administrative Services Outsourcing (ASO), Business Process Outsourcing (BSO), Software as a Service (SAAS), and Shared Services.
- Why more than 80% of businesses that work with PEOs were able to successfully navigate COVID-19 pandemic challenges, stay in business and return to "normal" more quickly than those that do not.
- How PEOs help your business increase profitability, reduce labor costs, maximize employee productivity, and minimize liabilities.
- How a PEO creates "economies of scale" and helps you access Fortune 500-level HR services and benefits, including lower costs on health insurance, workers' compensation, HR technology platforms, and more.
You can access the full webinar recording above and download the slides. It has been pre-certified by the Human Resources Certification Institute (HRCI) and The Society for Human Resource Management (SHRM) for one hour of HR general recertification credit. To earn HRCI recertification credit, you must watch the video above in its entirety and follow the instructions to request your credit. Also, check out HR Outsourcing Saves Time and Money So Your Business Can Grow and Thrive for more information about HR outsourcing options and if working with a PEO is a good fit for your business.
If you have additional questions after viewing the presentation or need help tackling your HR needs, let’s talk soon. For other resources, go to G&A Partner’s website and submit questions to email@example.com.
G&A Partners is a leading professional employer organization that offers world-class HR services and a team of experts who can help you navigate employment issues and initiatives such as recruiting and retention. Please schedule a consultation with one of our knowledgeable business advisors to learn more.