Many small and mid-size business owners turn to PEOs to simplify their lives by outsourcing key HR and accounting functions. However, that’s not all that a PEO can do for your business. The right PEO can give you the tools to cultivate your workplace culture and can help provide your employees with better benefits packages.
Improving your workplace culture and your employees’ benefits are vital to improving job satisfaction for your employees. If your employees aren’t kept happy, you could be facing a serious employee turnover problem. Finding a replacement for an employee can cost you up to four times the annual salary of the departing worker.
Cultivate Your Workplace Culture
It’s important to remember that you are responsible for your employees on a day-to-day basis, so cultivating your workplace culture starts with you. However, PEOs can help improve your workplace culture in many ways.
Get Back to Running Your Business
First, outsourcing your HR needs to a PEO means less time doing administrative paperwork and more time running your operation. This by itself can do wonders for changing a workplace dynamic. For example, you can be less stressed about making sure payroll is done on time and properly. This means you can focus more on keeping your employees happy and growing the business.
Build an Employee Handbook
Next, a PEO can help you draft an employee handbook. While you may think of an employee handbook as simply an explanation for your employees’ benefits, it can be a critical tool for setting your workplace’s culture. Your employee handbook will be one of the first things an employee can read about his or her expectations in the workplace, which will shape how the culture at your firm will grow.
Want to keep your employees happy? Try offering training opportunities. A PEO can help you develop training for your employees to refine their existing skills or learn something new. This can have the added benefit of allowing your employees to help grow your business in new ways.
Improve Your Health Insurance Benefits Package
When you sign a co-employment agreement with a PEO, that PEO becomes the employee of record for your employees. While you retain complete control over managing your employees, they will appear on paper as employees of your PEO partner. This will affect what company is listed is reported to the IRS as your workers’ employer and the name at the top of their paychecks, but it also alters the sorts of benefits offered to your employees.
When you join with a PEO, your employees get added to a pool of employees from all the businesses that have partnered with your PEO. One of the benefits of this arrangement is that the PEO will be able to deal with health insurance companies on your behalf, using this enhanced pool of employees. Having a larger pool of employees within the same group means less risk for the insurance companies. With less risk, health insurance companies can offer more competitive benefits packages. This can mean lower premiums for your employees and might also mean additional services being available as well.
NetPEO Will Find You a PEO That Can Help You Keep Your Employees Happy
NetPEO is here to help you find a PEO that can give you the tools you need to cultivate your workplace culture and offer better benefit packages to your employees. Even if you’ve tried working with a PEO in the past and found the experience lacking, NetPEO may have the solution. We pull from a national network of PEOs, but we only refer you to PEOs that are a good fit for your needs. It’s why we have a 100% customer satisfaction rating.
Call one of our PEO brokers today at (678) 376-1212 or provide your contact information using the form on the right. We’ll interview you and see how you’d like to cultivate your workplace culture and listen to what sorts of benefits you want to be able to offer to your employees. When we know what challenges you face, we’ll hand-select a list of PEOs that offer just the services you need. You can choose the PEO that’s right for your business, and we’ll always be available to make sure you’re satisfied with your partnership.
Better yet? Our services are free to you. So, if you’re interested in cultivating your workplace culture, offering your employees an improved benefits package, and keeping you and your employees happy, reach out to NetPEO today!