The Perks of PEO

Did you know...

There are numerous benefits to partnering with a Professional Employer Organization (PEO) like Nextep. When you use a PEO to handle your employee benefits, HR, payroll, and risk and compliance, it frees up your time to focus on your core business.

But did you know that a PEO can make a real difference to your bottom line? In an independent study, researchers found that businesses who partner with PEOs grow faster, experience less employee turnover, and are less likely to go out of business.

Grow 7-9% faster

Small businesses who use PEOs have grown more than 7 percent faster than those who don't.

The main reason: using a PEO allows owners and key employees to focus on growing their business while the PEO handles employment-related tasks.

10-14% lower turnover

Employee turnover can make a huge dent in your company's budget. The average turnover rate in the United States is significantly lower for companies who use PEOs for at least one year.

One reason: with a PEO, companies get access to a more competitive, robust, and affordable benefits offering than they can find on their own.

50% less likely to go out of business

Compared to similar companies, those who use PEOs are approximately 50% less likely to go out of business.

Since companies are able to focus on their core business and profitability instead of employment-relatred tasks, business viability increases.

Sources:
Professional Employer Organizations: Keeping Turnover Low and Survival High | McBassi & Company | 2014
Professional Employer Organizations: Fueling Small Business Growth | McBassi & Company | 2013
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Nextep delivers HR services to take your company to the next level. Our platform is innovative yet easy-to-use, never forgetting that the heart of a business is its people. With us, businesses can get back to doing what they love and leave the tough stuff to us.

 

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