What’s the ROI of a PEO During a Crisis?

What's the ROI of a PEO During a Crisis? Lyons HR

In the past year, crisis management has soared to a global level.

The Covid-19 pandemic started out as a rumble and quickly became a tsunami. Virtually overnight, businesses everywhere found themselves dealing with a sweeping upheaval that had no precedent or playbook. Even for those designated as essential by the government, with most people sheltering at home, customer traffic fell off, work dried up, and company leaders to this day have no firm idea when or if things will return to normal.

Making Business Continuity a Priority

The pandemic is a life-changing crisis that will go down in world history. It may be hard, in the midst of it, to think of other crises, but they have occurred: in just the past three decades, the Gulf War of the early 1990s, the uncertainty of Y2K, the terrorist attacks on U.S. soil on September 11, 2001, the Great Recession and housing crisis of the late 200s and now, Covid-19.

The lesson to be learned from it all is the importance of a robust business continuity strategy and access to experts who can help your company plan for, manage, and communicate through whatever  crises come your way. One of the most valuable aspects of working with a professional employer organization, or PEO, is collaborating with a partner who will have your back during difficult and unforeseen circumstances. PEOs provide their clients with the kind of business continuity of essential services that may be difficult or impossible to maintain on their own.

  • Natural disasters can cause critical infrastructure crashes, disrupted operations, building damage, and human casualties. Recovery plans and crisis management are devastating to consider, yet they are part of the equation of running a business. PEOs routinely assist their clients with putting these plans in place for a worst-case scenario.
  • During a crisis, a PEO monitors developments at local, regional, state, federal and global levels, and keeps its clients up to date on breaking news and developments. Of all the value propositions a PEO brings to the table, one of the biggest advantages clients receive is a skilled, knowledgeable, level-headed team of experts in their corner to manage a crisis when it hits.

During Covid-19, business continuity has been a constantly evolving challenge. PEOs have assisted their clients in myriad ways, including:

  • Providing advice and guidance through loan application and forgiveness processes related to the CARES Act, the SBA Payroll Protection Program, and other administrative and bureaucratic processes.
  • Providing effective return-to-work policies and drafting  reopening protocols based on public safety guidelines, as businesses have begun to recover and restrictions have been lifted.
  • Assisting in HR management of remote workers, as well as those who have remained on site throughout the pandemic.

Are you looking for ways to better navigate any crisis?

The effects of Covid-19 will resonate for years, if not decades, to come. And other crises will inevitably occur – whether  your company is located in the southeastern U.S. where hurricanes are a threat, in California where your continuity plan focuses more on earthquakes or wildfires, or in New England where you may wake up to an unexpected blizzard. Regardless of the circumstances, protecting your business and its people are paramount – so finding a PEO partner who understands and supports that priority may be the best business investment you make in 2021. To learn more, contact the team at Lyons HR today. We are an ESAC accredited and IRS certified PEO and – as it says right in our name – We are HR.

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