Choosing a professional employer organization is one of your main points in building your expansion strategy. Usually, this job was assigned to lawyers and accountants, but now it's easier because most of the work is remote and can be automated. This article shows you all the main aspects you must consider when choosing the right PEO partner for your company.
The decision to employ a professional employer organization can impact a company's future. The right PEO must give you a wide variety of services that enable you to focus on your business competencies and growth rather than tedious paperwork.
NAPEO white papers have shown that:
- Businesses with a PEO arrangement grow 7-9% faster, have 10-14%lower turnover, and are 50% less likely to go out of business.
- PEOs can offer a broad array of HR services at a lower cost; and offer access to retirement plans to a small business that may not otherwise sponsor them.
- The PEO industry’s 173,000 clients represent 15% of all employers with 10 to 99 employees.
- The ROI of using a PEO (in cost savings alone) is roughly 27.3%.
So, how should you choose the right PEO for your company?
Here is a quick guideline...
1) Determine your HR needs.
2) Make sure the PEO you are hiring can meet your goals.
3) See company reviews and testimonials.
4) Look for transparency pricing.
5) Know how employee benefits are structured and compare them with the industry average.
There are many PEOs in the market, but you must focus on finding which one is the best fit for your needs.
Feel free to reach out to us if you’re looking for a PEO to grow and scale your business with Latin American top-tech talent. Axented has two powerful platforms that will give you peace of mind by hiring the best team for your needs and managing them
Book your demo with one of our Growth Specialists.
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