How Professional HR Support Can Help You Grow Your Business

MAY 7, 2024

Small and midsize businesses often have limited personnel and budget, which can make it difficult for them to keep up with the daily demands of human resources tasks and benefits management. These challenges can also make it tough for businesses to compete with larger organizations for talent and customers.

USI Insurance Services can assist businesses that want to expand their HR and benefits offerings by assessing the value of a professional employer organization (PEO). Whether you want to bundle all services in a PEO or pick the components that fit your goals, USI can help you evaluate the many options available and select a program that meets your unique needs.

How Do PEOs Support Small Businesses?

PEOs are outsourced firms that can provide smaller businesses access to the same benefits and amenities available to much larger organizations, including:

• Full-Service HR Support: Depending on the arrangement, PEOs generally take on the responsibility of routine and often redundant administrative tasks, giving business owners time to focus on core competencies and grow the bottom line. Partnering with a PEO can save business owners an average of 27% on HR-related costs, or up to $1,775 per employee per year.
• Expertise On Demand: Many PEO organizations have HR, employment law and accounting professionals on staff, providing valuable expertise and reducing exposure to liability without the overhead expense of hiring and maintaining additional departments.
• Benefits Offerings and Benefits Administration: In addition to managing employee benefits programs and associated administrative tasks, PEOs can give businesses access to more robust and affordable benefit plans such as 401(k), health, dental, life, disability and other insurance. PEOs also pool resources and negotiate better group rates, helping businesses to offer more competitive benefits at a lower cost.
• Risk Management: PEOs help businesses manage employment-related risks such as workers’ compensation insurance, liability insurance and workplace safety programs.