Companies that partner with a payroll services company grow 9% faster compared to other small businesses. Every business owner is constantly seeking innovative ways to grow their company and their bottom line.
Most companies know that the key to productivity and a successful overall bottom line is employee engagement. Traditional employee engagement has focused on creating a sense of stability, offering a path to career advancement, and investing in learning and development opportunities along the way. And though these are all still important components in today’s workforce, the emergence of the Millennials into the workplace necessitates a new approach for engagement.
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide to growing businesses across the country. Small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business.