As an entrepreneur, there are many things to consider while running your business. Choosing the right Professional Employer Organization (PEO) to assist you with managing your HR and administrative requirements is one of the most crucial decisions. PEOs can take on many different responsibilities, like managing benefits and payroll and ensuring employment laws are followed.
We know today’s business owners have little time to spare. So, we have compiled this guide with important information to help choose the right PEO for your small business.
Services Offered
When considering a PEO, the primary consideration should be the range of services they provide. However, not all PEOs offer the same level of service, so it’s crucial to look for a provider that offers the specific administrative options your business requires. Some of the most commonly offered services by Concurrent HRO include HR consulting, benefits administration, compliance with employment laws, workers’ compensation insurance, and payroll processing.
Cost
Cost is another important consideration when selecting a PEO. PEOs regularly charge a percentage of your payroll. However, the actual expense can differ depending on the administration you want and the size of your business. Additionally, some PEOs may charge additional fees for setup, onboarding, and specific services.
When evaluating the costs of different PEOs, it’s crucial to take into account both short-term and long-term expenses. While a PEO with lower fees might initially appear to be a more attractive option, it’s important to consider the overall quality of their services and the potential cost savings they provide over the long-term.
Reputation
It’s crucial to take into account the reputation of the PEO you are evaluating. It’s important to select a provider with a proven history of delivering excellent administrative services and fostering strong client relationships. To research PEOs, you can explore various providers online, look through reviews, and consult with other business owners in your industry to obtain recommendations.
Integration and Technology
It’s crucial to choose a PEO that leverages innovative technology to streamline services and simplify your operations. When evaluating PEOs, you should seek out a provider that offers seamless integrations with HR and payroll systems, as well as an online portal for employee self-service. These features help you save time and minimize errors when managing HR and administrative tasks.
Customer Support
Most importantly, selecting a PEO that provides excellent customer support is essential. When you have questions or problems that need to be fixed, you want a provider who is quick to respond and helpful. Therefore, choose a PEO that provides support via email, and phone in addition to the standard communication channels.
With all of this in mind, picking the right PEO is an important choice for entrepreneurs. Concurrent HRO has an excellent reputation, is dedicated to providing support to customers, and provides the services you require at a cost you can afford. Whether you are focused on expanding your business or achieving new goals and objectives, having the right strategic partner by your side is essential.
Contact us today to learn more about why Concurrent HRO is the PEO solution you are looking for to assist your small to medium-sized business.
