Small and mid-sized businesses often struggle with underdog status when it comes to attracting and keeping highly qualified workers. Owners of these businesses also have to fulfill more roles than there are hours in the day and face burnout or frustration as they do not have time to do what they really want to do, which is to grow the business.
NetPEO can help solve these major problems by partnering small and mid-sized businesses with professional employer organizations (PEOs). If you are a struggling small-business owner, reach out to NetPEO. We will facilitate your co-employment relationship with an Orlando PEO insurance services provider so you can compete for workers on a level playing field and keep your focus on improving your business.
How a Co-Employment Business Structure Works
The term “co-employment” might make you think you will have to release some of your decision-making power to your PEO partner, but this is not how co-employment works. Under this structure, you remain the primary authority in your business. You make the important business decisions and have charge over your employees day-to-day.
The co-employment status of the PEO is a legal measure. It allows the organization to manage the human resources (HR) components of the business you outsource to the company because your employees would also be the PEO’s legal employees. Without legal co-employment status, the PEO would be limited in the tasks they could oversee.
You also control what responsibilities fall under the PEO’s purview. While some business owners outsource all HR tasks to the PEO, others make more specific selections.
NetPEO Will Find the Right Co-Employer for You
The key to a successful co-employment relationship is finding the right PEO partner. The National Association of Professional Employer Organizations (NAPEO) recently published a paper reporting continued growth in the PEO industry. It also identified Florida as one of ten states with a “high relative PEO presence.”
While this competition is a good thing for business owners who can be more selective in choosing the right PEO, it also means business owners need more time to evaluate the options. And time is already in short supply for business owners.
By working with NetPEO, you do not have to use your valuable and limited time to research and assess PEOs. Instead, you will meet for a free consultation with a NetPEO broker who will assess your business needs. Then, the broker will consider your needs and goals against the extensive selection of PEOs in NetPEO’s network and present you with carefully vetted options.
The Decisions Are Yours
Ultimately, you choose which PEO partner is the best fit for you. NetPEO will continue to work with you after you have made your selection to help you establish a co-employment agreement. This agreement documents which responsibilities you are outsourcing so each party understands its roles.
NetPEO will continue to offer support even after you have completed your agreement. We will help you adapt to your new co-employment relationship, working through any issues that may arise during the transition.
An Orlando PEO Insurance Services Provider Partnership Makes Your Business Better
An Orlando PEO insurance services provider partnership will not just save you time, it will make your business better.
Competitive Benefits and Stronger Employees
Good benefits are a key attraction for workers seeking employment. Big businesses easily out-compete small and mid-sized businesses in this area. Benefits packages are expensive, and small businesses often have to charge individual workers high fees for mediocre coverage if to keep the business operating within budget.
Even if a small business can onboard strong workers, retaining those workers is very difficult. Often, once they gain experience, workers seek opportunities with better benefits. A PEO partnership makes it possible for small businesses to compete with big-business benefits that can help them attract and keep strong workers.
Your employees are legal employees of the Orlando PEO insurance services provider, as are the employees in all other small businesses that have partnered with this PEO. This larger number of employees gives the PEO far greater bargaining power, which makes it possible for the organization to negotiate higher-quality benefits packages. Because of the better benefits offered, you will see stronger applicants and less employee turnover.
Orlando business owners must know and comply with state and federal laws governing small businesses. The laws inform wages, overtime pay, benefits, tax regulations, license and permit requirements, intellectual property issues, and fiduciary duties.
Staying up-to-date on laws and law changes and maintaining compliance with these regulations is stressful and time-consuming. You can outsource this complicated responsibility to your Orlando PEO partner, who will protect your business from non-compliance liabilities.
Through your co-employment structure, your business will see increased productivity. Once again, your benefits packages will help you find and keep stronger, more productive workers.
Further, you will be able to put your time and energy into expanding and refining your business instead of on employee training, payroll management, workers’ compensations, or other HR needs.
A Better Bottom Line
Partnering with a PEO rather than contracting out HR services or hiring an HR team is more cost-effective in the long run. Contracted HR services still cost money but are limited in the duties they can fulfill since they are not your workers’ legal employers. A PEO co-employer will cost less than hiring your own HR department, and your NetPEO broker will work within your budget when researching potential partners.
The money spent on your PEO partnership is money well spent and will improve your business’s bottom line. Along with saving you money on HR employees, you will see your return on investment through employee retention and increased productivity and will have the peace of mind that comes with knowing your business is operating lawfully.
NetPEO Will Find the Orlando PEO Insurance Services Provider that Is Right for You
Orlando businesses across most industries have made the strategic move of partnering with Orlando PEOs. Whether in construction, aviation, finance, manufacturing, broadcasting, retail, or some other industry, the right PEO partnership can bring significant benefits to your small or mid-sized business. Visit the NetPEO contact page today to schedule your free consultation with an experienced, attentive NetPEO broker.