Get the Most from your PEO
Recently, we released our own e-book, Get More Done with a PEO, which goes into detail about what a PEO is and how it can help your business. In last week’s blog, we highlighted four different tactics to be aware of when deciding on a PEO.
Here at FullStack, we believe transparency is incredibly important and we want you to get the most from your PEO!
Get the Most from Your PEO
Find a PEO that serves companies just like yours.
There are more than 900 PEOs in the U.S., according to NAPEO, and they typically serve companies in any industry looking for HR services. Very few of them focus on serving the tech industry, whose size is exploding in Indiana. IT job growth is at 17 percent, which is double the 8 percent growth rate for other occupations. And, nearly half of tech workers in Indiana have children. No wonder having benefits is so important for tech companies here.
Industry Knowledge and Talent Services
When considering a PEO, you need to evaluate what other benefits a PEO provides beyond the typical HR services.
For example, does the PEO work with a community of employers to facilitate communication so that you can bounce ideas off like-minded CEOs? You may struggle to connect with potential investors in the Midwest and beyond, but someone in your PEO’s network can share her experiences and provide practical advice.
Your PEO can also be a valuable in finding talent. In 2018, Indiana had 2,900 emerging tech job postings and nearly 44,000 overall tech job postings, according to CompTIA’s 2019 Cyberstates report. A PEO that focuses on your industry will know what employees at tech companies want and can help coach you through recruiting the best workers. In addition, the PEO may have developed a network of resumes of job seekers in your industry that you can use to add to your team.
Besides recruiting talent, a PEO can be a trusted resource for employee growth and development, something that is in demand in by tech workers. Tech industry leaders surveyed by CTA noted that professional development and training also are going to be essential for retaining employees in the next five years. Eighty percent said technical and high-skills training was key; 74 percent said it’s important to offer professional development programs to hone soft skills.
Tech employees often want to join a company where they can continue learning and developing their skills. According to the 2018 Deloitte Millennial Survey, 48% of millennials said opportunities for continuous learning was very important for choosing where to work. The response from Gen Z workers was similar – 44% also want continued learning opportunities.
“Our co-founders started FullStack specifically to add value to emerging tech and tech-adjacent companies in the unique challenges they face regarding finding, keeping, and developing talent in a tight labor market. They designed our Talent Services to offer tangible solutions to these challenges based on their and other leaders’ experiences starting and scaling companies.” -Daniel Fuller, VP Business Development
Win-Win for Your Company and Employees
You need to differentiate your company in today’s competitive tech market. Consider bringing on a PEO to help you provide the benefits and services that tech workers demand. Why should you waste your time on handling the day-to-day HR and compliance matters that PEOs specialize in? You take care of your company and let the PEO take care of your people.
When you offer the health benefits, retirement options, and employee coaching that tech employees want, you’ll end up with happier, more engaged employees who are likelier to stay with your company as you scale.
Working with a PEO that specializes in your industry is a win-win situation for tech companies and their employees.
FullStack PEO wants to help your company get the most out of it’s PEO. For more information about how a PEO can help your business grow, download our e-book, Get the Most out of Your PEO.