Are you concerned that your employees may have qualms about your company partnering with a professional employer organization (PEO) to help manage your HR functions? Or, if you’re being perfectly honest, maybe you have some concerns yourself that you still need to resolve as you consider this decision. After all, a PEO becomes the employer of record for your staff – and that concept can bit hard to swallow at first.
But rest assured, you don’t lose control of your business or your people when you work with a PEO. In fact, the opposite is true: You better position yourself to take care of both and help ensure growth, stability and progress for the future. Your time is freed up to concentrate on customer service and other business-critical strategies, while your PEO handles the responsibilities necessary for successful talent and risk management, safety, payroll and tax administration, and compliance.
From the Mouths of PEO Client Employees
Employees working for companies that are PEO clients, when compared to those that do not, are significantly more likely to report that their employers:
- demonstrate a commitment to them, which results in greater job satisfaction on their part.
- have a more thorough hiring process.
- have effective HR policies and practices that promote employee loyalty.
- provide training and career development opportunities.
PEO client employees also report higher scores on key metrics related to both job satisfaction and confidence in their companies’ management. These include:
- engagement levels.
- intention to stay with their current employer until retirement.
- belief that their company management is taking the right steps to be competitive.
- trust that their employer is supporting them as they work to deliver excellent customer service.
- confidence is the employer’s approach to growing their company.
The Four Pillars of Profitability
All these tie into the Four Pillars of Profitability that keep your company competitive and successful. PEOs turn HR into a strategic initiative that not only builds profitability, but also protects the assets that generate it. This value is delivered through a wide range of services, all of which are linked to at least one of four categories:
- payroll and payroll tax administration
- employee benefits
- safety and risk management
- HR compliance
When a company has all four of these pillars supporting it, its leaders can focus their attention on profit-generating activities like taking care of customers and growing the business. Read through those favorable employee comments one more time, and you can draw parallels between each of them and any or all of the Four Pillars of Profitability.
Your employees are your greatest asset. This is true for many reasons, among them the fact that they can also be your best brand ambassadors: spreading the good word about your company among their friends, families, contacts and influencers.
Looking For HR Solutions?
By working with Lyons HR, you can feel sleep at night knowing that everyone on your team is truly on your team. We’ll help you build and effectively manage a workforce of happy, engaged and loyal professionals who will work right alongside you to keep all four pillars solid and strong.