There are many misconceptions about professional employer organizations (PEOs). Often, one of them is that PEOs only deliver value for smaller businesses. But what about PEOs for midsize businesses with operational challenges? These business owners may ask:
- What value does a PEO bring to midsize businesses?
- How can a PEO serve as a strategic partner for growing businesses?
How can midsize businesses benefit from PEOs?
Once businesses reach the 50-employee threshold, expand into other states and municipalities or hire remote employees who reside elsewhere, they can be subject to more legal and regulatory complexities. Other challenges of growing organizations can also impede, such as business owners’ focus on serving customers and not having sufficient time to allocate toward HR responsibilities.
Often, when a business scales up, HR leaders and business owners tend to respond reactively in dealing with the introduction or increase of more complicated benefits questions, employee issues and compliance concerns. This can lead to more problems, including unintentional exposure to liability.
Research firm 3Sixty Insights took a comprehensive look at the power of PEOs in overcoming these HR challenges and becoming a strategic business partner for midsize organizations.
Continue reading here: 5 ways a PEO can serve as a strategic partner for midsize businesses