Expanding your business can be difficult if you’re constantly spending valuable time and money on running HR, payroll, and accounting departments. If you could just free up some of those resources for more important tasks, you might be able to see the growth your business needs to survive in today’s world.
If you feel like your business is stuck, you should consider outsourcing to a PEO. A Professional Employer Organization can take on the responsibilities that are weighing your company down. A PEO broker in Kentucky can find you a partnership that will allow you to focus on what matters most to your business.
How a PEO Partnership Works
A PEO is a separate organization that takes on certain employer responsibilities. If you decide to partner with a PEO, your relationship falls under the category known as “co-employment.” Under co-employment, you retain decision making power and decide what your PEO manages.
PEOs are different from HRO (Human Resources Outsourcing) partnerships because they’re able to do much more for you. Not only can a PEO take on HR and payroll tasks, but they can also add you to their employee benefits network and handle your legal claims.
A Broker in Kentucky Can Find You a PEO That Will Handle All Your Needs
Outsourcing to a PEO is much less expensive than hiring in-house employees. If you need to raise your bottom line, a Kentucky PEO broker can match you with a PEO that will provide numerous solutions that take care of many tasks that might be bogging down your business.
A PEO can take control of resource-draining responsibilities like:
- Employee administration. They’ll handle recruiting, administrative training, performance management, and any other administrative tasks you need to outsource.
- Payroll. Running a payroll department can be a tall order for a small business. Luckily, a broker can find you a PEO that will manage direct deposits, bookkeeping, and distribution of W-2 forms.
- Liability and risk management. As a business owner you’re aware of the rules and regulations you need to obey to avoid being fined. Complying can be extremely complicated and time-consuming, but a PEO can take that weight off your shoulders and ensure you won’t pay a dime in penalties.
- Benefits. When your employees have access to quality benefits, they feel happier about their job and are more productive. If you’re having trouble giving your workers the benefits they deserve, a PEO can help you deliver.
A PEO Can Significantly Reduce Your Turnover Rate
Losing an employee can be expensive and stressful for your other workers. Fortunately, a PEO can reduce your turnover rate by 10% to 14%. PEOs are great at fighting turnover because they give employees access to better benefits, and take a significant amount of stress off of management.
Hiring the right employees is the best way to improve turnover rates. Our PEO brokers in Kentucky can find you a provider that will help you recruit workers. They’ll only hire employees that are a perfect fit for your company, so you don’t have to worry about them leaving.
What Your Kentucky PEO Broker Looks for in a Provider
When it comes to finding a first-rate PEO for your business, there are a few things we look out for to make sure your new partnership is helpful and effective. Here are a few of the statistics and qualifications we take into account when finding your provider:
- How many years they’ve been operating
- PEO certification
- Their employee and client retention rates
- Experience and certification held by employees
Partnering With a PEO Can Improve Your Access to State-of-the-Art Technology
Running a small business can be difficult if you have limited access to the software and technologies that allow larger organizations to thrive. A Kentucky PEO broker can match you with a PEO that can give you the tools that make administrative tasks easier.
Your new PEO will be able to manage your data, provide software that makes HR and payroll tasks run smoothly, and train your employees on how to use your new tech. You’ll be surprised at how efficient your business can be with the right tools.
What to Do When You First Partner With a PEO
A PEO can work wonders for your business, but any major workplace transition can cause tension and worries. In order to address any concerns you or your employees might have, it’s important to encourage open communication between your organization and your new provider.
Voicing concerns to your PEO will help them serve you better. Another way to improve the transition into your new partnership is by organizing an orientation seminar for your workers to learn more about the PEO. This will help them acclimate and voice any questions or doubts they might have.
NetPEO Is Here to Help
At NetPEO, our top priority is finding a PEO that fits the specific needs of your business. When you contact one of our PEO brokers in Kentucky, they’ll assess your organization to see what type of provider you would benefit the most from.
Once they’ve performed an assessment of your organization, they’ll match you with a certified PEO that specializes in the areas you need assistance in. If at any time you feel dissatisfied with your PEO, contact your broker and they’ll address your concerns and match you with a new provider if necessary.
Contact a PEO Broker in Kentucky Today
Your Kentucky PEO broker is ready to find you a provider that will bring your business to the next level. Call NetPEO today or fill out a contact form on our website to schedule your free consultation.
We’ll never charge you for our consultation or PEO matching services. Once we find a PEO that works for you, we’ll discuss your options for paying your new provider. Hiring a PEO could be the smartest business decision you ever make, so don’t hesitate to reach out to one of our brokers today!