As a small or mid-sized business owner, you know how important it is to have talented, reliable employees. You depend on your workers to show up, work hard, and help you achieve your business goals.
Attracting such strong, qualified workers can be a challenge. Small business owners rarely have the resources to offer workers the same benefits packages they could receive from larger corporations. And even if you manage to attract and hire a great employee, it is not unlikely for you to lose them to larger businesses with better benefits once they gain experience.
NetPEO has a solution to this and other small-business problems. A NetPEO broker can connect you with a Professional Employer Organization (PEO) who can upgrade the benefits you offer your potential employees and take other administrative duties off your to-do list.
How PEOs Work with Small Businesses
PEOs are organizations that take on whatever human resources (HR) or administrative roles a small business owner assigns them. The PEO is able to perform these services because of their co-employment relationship with the small business owner.
Under the co-employment structure, the PEO is a legal employer of the small business’s employees. This status allows the PEO to handle sensitive employee information involved in human resources issues.
Within this structure, you still maintain your role as the business’s owner and Chief Executive Officer (CEO). You still make all business decisions and manage your employees as you see fit. You will find that by delegating administrative responsibilities, you have more time to invest in innovation, growing your business, and pursuing your vision.
How Duluth PEO Employee Benefits Services Can Help Your Business
The struggle to provide workers with substantial benefits packages is one small business owners often lose. By partnering with a PEO, they can change that situation and reap positive outcomes.
The employees of any other business that partner with your PEO co-employer are also employees of that PEO. The larger number of employees gives the PEO more bargaining power when negotiating benefits packages with insurance companies. As a result, the PEO secures better packages at a lower per-employee cost.
Benefits that matter are a key element for job seekers. Often, business owners do not have the time or resources to recognize or offer what benefits “matter” most. A PEO can research other businesses in the field to make sure you are in line with what they offer and investigate what benefits workers in Duluth are looking for. Then, they can create a package that meets those needs and keeps you competitive.
Duluth PEO Employee Benefits Services Helps Your Workers and Your Business
When you offer better benefits, you end up with a stronger business. Here’s why:
- You attract more highly qualified workers
- Your workers are better compensated and feel valued.
- Valued workers are content in their situations and less likely to pursue other opportunities, remaining loyal to you and your business
- You have less employee turnover and spend less time and money on recruiting, interviewing, conducting background checks, and training
- Your workers are healthier. Good health benefits allow workers to take care of themselves, and a healthier workforce is a more productive workforce
- Your workers have higher morale, which creates enthusiasm for the business–your business
- Your workers stay on the job, learn more about the job, and put the benefits of that experience back into your business
More Benefits of a Duluth PEO Partnership
Strong benefits packages are not the only way PEOs can improve your business. In your co-employment agreement, you can assign other administrative duties to the PEO and see even more positive results. Your NetPEO broker will help you evaluate whether it is more suitable for you to put all administrative duties under your PEO’s purview or use a more “a la carte” method.
Other Services PEOs Can Provide
Based on your business needs, you can assign any or all of these duties and others to your PEO:
- Payroll management–paying your workers on time and processing payroll taxes
- Compliance issues–keeping your operations within all small business regulations
- Hiring–conducting interviews and background checks and providing onboarding and training. You can maintain the “final decision” for all new hires
- Terminating employees–like all states, Minnesota has regulations employers must follow when parting ways with an employee
- Workers’ compensation cases
- Risk management–ensuring your workplace upholds safety and other requirements
NetPEO Will Find the Right Duluth PEO Employee Benefits Services Provider for Your Business
You might like the idea of partnering with a PEO but feel somewhat lost about how to begin your search. All you need to do is contact NetPEO and set up a free consultation with a NetPEO broker. Your broker will take care of everything else.
At the consultation, your broker will assess your business needs, vision, and budget. Then, they will review the services, costs, and other relevant details of the PEOs included in NetPEO’s network of organizations. NetPEO is not a PEO itself. It is a brokerage firm with an extensive network of reliable PEOs.
After reviewing the PEO options available, your broker will present you with manageable options so you can decide which is the best fit for your business.
Business Owners in Duluth Can Count on NetPEO
The United States Small Business Administration (SBA) recently published state-by-state small business profiles. At the time of the report, Minnesota had 1.3 million employees working in 526,350 small businesses. These businesses represented 18 categories of industry, ranging from healthcare to education to recreation to construction to agriculture to finance.
No matter your business, NetPEO can find you the right PEO partner. We have a 95% retention rate–the highest in the HR outsourcing industry. Our brokers have PEO background and over 200 years of combined experience in the industry.
Your broker will not just find you a partner and disappear. NetPEO brokers help you create a co-employment agreement and transition into your new structure, and if the partnership does not work as planned, they will help you dissolve the relationship and use that first experience to find you a new, more suitable PEO partner.
Get in Touch Today
Do not wait to contact NetPEO. Call or message us today to set up a consultation with a broker who will set you up with a Duluth PEO Employee Benefits Services provider. The partnership will help you attract and keep the highly skilled employees your business deserves and needs to reach its full potential.