This year has brought change to all of us at an alarming rate and in many cases has made us reevaluate how we go about our day-to-day lives. Many businesses have seen a shift as well, which means owners are beginning to reevaluate the various services providers they continue to use. In most cases, business owners are shifting their mindset to find a solution that will create cost-saving options while also helping the business thrive through this difficult time. For some, the Professional Employer Organization model may be the answer. This model creates a co-employment relationship between the PEO, the business owner, and the employees. A PEO strives to take all of the administrative backroom work off of the business owner’s plate by providing benefits administration, payroll processing, tax administration, human resources consulting, and much more.
Many small to mid-sized businesses believe that an insurance broker is the only option when it comes to providing benefits to their team. But, a PEO can provide these same benefits for your business while also offering additional services. Not only is a high-quality suite of benefits accessible when you partner with a PEO, but this partnership can offer savings in a multitude of ways and may even enhance the culture within your team. If you are looking to better serve the needs of your employees, partnering with a PEO may be the answer for your business.
A partnership with a PEO means your business gains access to a rich suite of benefits. PEO’s have the ability to harness the buying power of hundreds of businesses. By bundling multiple services into a single package, they create savings for your business. A partnership with a PEO could potentially allow you to offer a benefit package that includes the following:
- Health, Dental, and Vision Insurance
- 401k Retirement Saving Plans
- Employee Wellness Programs
- Employee Assistance Programs
- Short-Term and Long-Term Disability
- Life Insurance
- Flexible Spending Accounts
- Health Savings Accounts
For most small and mid-sized employers, a partnership with a PEO can save business owners a lot of money when it comes to offering employee benefits. In fact, last year Focus OneSource saved an average of 27% on health insurance alone for our clients.
As mentioned above, a partnership with a PEO can save business owners a lot of money when it comes to offering employee benefits. But, monetary savings are not all that a PEO can offer. Businesses are made up of a lot of moving parts, and it can take a lot of focus and diligent work to keep everything organized and running smoothly. When you partner with a PEO, the task of keeping your company compliant with laws and regulations is removed from your plate. This not only saves the business owner time, which can now be spent towards working on the business as a whole, but it also reduces the liability of the business. With a PEO you gain access to a dedicated team of Human Resources professionals. This Human Resources team will help to mitigate risk and help the business avoid any expensive legal complications.
Additionally, employee turnover can be very costly for businesses, but with a PEO you provide a better service for your employees which will help to retain their talent. A robust benefits package makes your current employees happy because it demonstrates that you care about them, but it can also help the business to remain competitive in recruiting top talent in the future. With a PEO you have the opportunity to give your employees benefits that are equal to those of a large corporation. This employee satisfaction will lower turnover rates, thus creating savings for you and your business.
Now you may ask, what is the one factor that separates a PEO from the service a broker provides? It’s simple, the culture. In essence, a PEO is an extension of your back office. This means that not only will you, the business owner, have access to continuous communication with our team, but your employees will also be able to contact specialists to find answers to any questions that come up. Focus OneSource is a locally owned and operated PEO which allows us to understand our customers better than the competition. This level of understanding creates the opportunity for seamless communication with our clients and their team. At Focus OneSource, we strive to enhance your employee’s experience through trust and transparency. This includes offering in-person meetings, employee onboarding or benefit consultation, and responding to all human resources related questions in a timely manner.
Focus OneSource and You
Focus OneSource is an Iowa domiciled PEO that has been in business in the Des Moines area for over a decade. In that time, we have helped numerous business owners succeed by helping them to increase their productivity and profitability. Being headquartered in Iowa gives us a unique perspective on the local growing businesses that we have the opportunity to work alongside.
Many business owners find the PEO relationship to be very beneficial to the success of their business. We have worked with numerous growing businesses and understand the wide range of needs that are unique to each business. The PEO model continues to be the core of our business, but we strive to work toward creating the best strategic business solutions for each business owner. A relationship with Focus OneSource provides a solution as unique as you and your business. Call us today at 515-369-7597 to learn about customized business solutions.