What Are the Top PEO Companies and How Can You Choose? A Guide
Did you know that almost 5.5 million businesses filed a start-up application last year?
Whether you’ve just started pursuing your dream of a business or have been operating for years, it’s crucial to know how to expand. If you’re content with the status quo, then you can expect the competition to take over at any time. This is where PEO companies come in to help.
Are you wondering what top PEO companies are and how you can choose between them? Keep reading to learn all about it.
What is PEO?
A PEO company stands for “professional employer organization.” Put in the simplest terms possible, a PEO company leases employees to another company to help them expand in a variety of ways. This makes the process easier and quicker because they can handle aspects related to liability, background checks, interviewing, and much more.
Aside from human resources administration, a PEO company can also handle the responsibilities of employee benefits, payroll processing, and even training. Aside from helping a company to expand into other states, there’s also the possibility of expanding into whole new countries, such as the UK, Australia, Germany, Greece, Hong Kong, France, and others.
The Benefits of a PEO
Are you still asking yourself, “What is a PEO?” It can help to highlight the benefits of hiring a PEO instead of investing in expansion without them. When you have a PEO on your side, expansion can happen in a matter of months or sooner rather than having to wait years and years.
Not only can you save vast amounts of time but you’ll also save money. Even training one employee can cost thousands of dollars, let alone dozens or hundreds of employees. By relying on a PEO company as your professional employer, you won’t have to think twice about these particular responsibilities.
Instead, you can put that extra energy and financial savings into other aspects of your business’s growth.
How to Choose the Best PEO
While there are many PEO companies out there, not all of them are reliable and worth the investment. There are several strategies you can use to home in on a PEO company that’s worth teaming up with. To start your search, you can look up online reviews and see what current or past clients have said about a given company.
Aside from reading specific reviews, you should also take note of their accumulative rating. Don’t forget that it’s easy to get a perfect score if they only have a few reviews to their name. The more reviews they have, the more difficult it is to maintain a perfect score.
This can allow you to appreciate the reputation of the best PEO companies even more. However, online reviews should always be taken with a grain of salt, especially when anyone can leave them.
For a more reliable impression, you should get one or more referrals from a top PEO company. That way, you can spend time speaking with a real person. This is your chance to learn all about their experience, including what they love about the company and what might need improvement.
As you do your research, don’t forget to confirm how great their reach is. The last thing you’d want to do is work with a PEO company that can only get your brand to expand in one or two countries, for instance. They shouldn’t have a problem talking about some of their success stories with other companies as well.
What to Ask a Potential PEO Company
If you’re still on the fence about which PEO you’d like to work with, then it’s a good idea to ask as many crucial questions as possible. You can start by asking them how long they’ve been in business. The difference between a few years of experience and a few decades can be vast.
Aside from general experience, you should also ask about their specific team members. Team members can come and go so it’s worth learning how dedicated and trained their main employees are.
Don’t forget to broach the subject of customer service. Since there will be many moving parts in different locations across the globe, you deserve need peace of mind. If anything goes wrong, for instance, then they should be only a phone call away and should have emergency strategies in place.
While it’s true that a PEO company will do interviews and other tasks on your behalf, that doesn’t mean you should interview them before signing any contracts. You should feel free to ask staple interview questions that pertain to their inspiration, their goals, why they think working together would be a good fit, and more.
Some difficult questions can involve any failures or road bumps they have had to contend with so far. It’ll be eye-opening to learn how they’ve handled these instances and what they’ve learned from them over the years.
Take note of how they conduct themselves and whether or not they make you feel comfortable. These feelings can often translate to how a professional relationship will progress from there on out.
Are You Ready to Choose Among Top PEO Companies?
Now that you’ve learned about what top PEO companies are, you’re ready to choose one that’ll take your business to the next level. From manageable growth to quality talent, you can rely on a PEO company to be there for you every step of the way.
We can help you expand beyond the borders of America so that you can become a global company. We make it so easy you won’t even need to set up physical offices in those locations unless that’s your goal.
For more information on how we can boost your brand, feel free to contact us.