FullStack is introducing our PEO Buying Guide – an all inclusive guide with information on how to research PEOs, considering your company and employee needs, and what questions to ask.
Dawn Lively – FullStack’s Co-founder and COO believes this guide will help business owners recognize their needs and find the PEO for their needs. “The common phrase used in our industry is that, while everyone spells “PEO” the same way, what services are delivered, how they are delivered, and how they are packaged varies widely across the board. This guide seeks to help clarify misnomers, be as transparent as possible, and help growing businesses make the best decision for their present and future.”
In conjunction with the release, we’ll be highlighting insights from the buying guide that can help you make the right decision when it comes to choosing the right PEO for your organization. Here’s a peak:
Partnering with a PEO is an excellent decision for your company and employees. Businesses that partner with a PEO see greater growth, retain their employees at higher rates, and are less likely to go out of business. A PEO allows you to focus on what’s most important – growing your revenue and investing in your team.
A PEO’s industry focus, services offered, and cost are the three most important factors to finding the right match for your company. FullStack’s goal with this guide is to give you insights into how to ask the right questions when comparing PEOs and understanding the potential all-in-costs of partnering with one. What specifically prompted this guide is our value to being fully transparent, and the feedback we’ve received from prospective clients on how difficult it can be to understand the cost associated with a PEO partnership. It doesn’t feel good as a company leader to not know exactly what you’re paying for, what services are included in the cost, or to be surprised by an unexpected fee you thought was already covered. This guide will equip you with everything needed to help you make your PEO partnership decision easier.
Identify your company’s needs
Although most PEOs will manage your company’s payroll, administrative HR, compliance, and benefits, each has additional services that could make that PEO the best first for your company. Consider these questions:
-
What core PEO services does our company need?
-
What additional services would be beneficial for our organization?
-
What do I need for my company at its current size and stage versus what will be needed when we reach our next growth goals?
Do Your Research
The PEO industry is expansive – there are a lot of options and PEOs are very diverse in scope and focus. Some are industry-based while others focus on serving companies of a certain size. There are national, publicly-traded companies you’ve heard of before – others are local or regional.
Dig deeper into the PEOs you’re considering by doing the research and asking these questions:
-
What type of clients do they cater to? Are they laser-focused on our industry, or do they work within companies from a variety of backgrounds?
-
What size companies do they work with?
-
In a crowded PEO market, why does the PEO exist? What’s their mission and differentiating factors?
-
Do I want to work with a national PEO or a more regionally-based PEO?
-
What associations and certifications do they have?
To download the full guide, visit our resources page.