With today’s demanding economy, growing your business may seem like an impossible task. Your company’s ability to make it in such a market depends on how you manage your employees. In comparison to your competition, the better you manage your employees, the better your company will perform as a whole. That being said, what exactly is the “best” way to manage your employees?
Handling Human Resources
Your team and its skills, creativity, and knowledge is what sets your company apart. However with HR conflicts and payroll problems, not only is your precious time wasted on putting out these fires, but the rest of your team also falls behind in productivity. You, as a business owner, need to get back to doing what you do best–running your business.
By outsourcing your HR to a Professional Employer Organization, or PEO, you can get back to growing your business and let someone else shoulder the burdens of payroll, risk, conflict management, and more. Your human resources problems can run way deeper than simple petty arguments in the workplace–they can affect the survivability of your business. In fact, the strongest predictor of whether or not your new business will make it longer than 5 years is your investment in HR, and studies have shown that small businesses that hired a PEO ended up spending less on HR than their similarly-sized competitors.
Offer Better Benefits
In order to obtain the creative, intelligent team that you so desire, you need to offer employee benefits that attract these types of people. Despite the fact that PEOs typically work with small business owners, they are able to offer Fortune 500 benefits at a significantly lower cost than companies who don’t outsource their benefits. If you’re looking for a way to attract your dream team as well as increase employee satisfaction and retention rates, starting with better benefits is the way to go.
Simplifying Payroll & Lessen Your Risk
Payroll errors and liability are likely other costly, time-consuming tasks that have fallen onto your shoulders as a small business owner. Thankfully, a PEO will make sure you’re staying compliant, lessen your liability, and handle your payroll for you. When you let a PEO handle such tasks, you can avoid lawsuits and save money that can now be used to invest in your company.
In order to get ahead of your competition, you need to be able to devote your time to your clients. By hiring a PEO, not only will you have the ability to succeed in today’s market, but your workplace environment will improve as well. Contact Delta today to learn how we can help manage your employees while you get back to doing what you do best.