Facing the pandemic has been a tough battle for small-medium enterprises or SMEs. During these uncertain times, businesses were forced to either adapt or close down. Unfortunately, companies that chose to adapt and persevere had to cut their budgets to keep the business afloat, while still pushing for innovation.

In 2022, quarantine measures eased, especially with the global vaccine rollout. This year, as countries began to open their borders, business activities started to pick up. In 2022, the pandemic has started to stabilize, especially with the global vaccine rollout. This year, as countries worldwide begin to open their borders, businesses can also start to flourish in new territories.

Managing personnel and dealing with labor compliance is a full-time job in itself.

With business growth comes the challenge of managing a more prominent firm while making sure that you’re following labor laws and regulations. This is where a Professional Employer Organization or PEO can help your business, but of course, it depends on whether you’re able to find the right fit for your company and your values. PEO Brokers can lighten your load by helping you find the best PEO for your business.

In this guide, you’ll learn the following:

Determining the Needs of Your Business
Choosing the Right PEO for your Business
Working with Dinsmoresteele

Determine the needs of the business

The first step to hiring the best PEO for your business is determining your business’s needs and knowing if your company needs one.

As your business and the number of your staff grows, so does the amount of paperwork and requirements you need to accomplish. It is about time to ask yourself if you can oversee all these tasks or if you should outsource your human resources management to a PEO.

Here are some questions that will help determine if your business needs a PEO.

Do I need help communicating?

For SMEs, it is usually you, the business owner, who would endeavor to work on the end-to-end in operations. But as your business grows, you begin to delegate tasks to your staff. You take up a more supervisory role and let go of specific responsibilities like talking to clients directly and monitoring your employees.

As a business owner, you need to listen to employee grievances, check performance reviews, and keep an eye on employee growth opportunities.

Do I need help hiring new employees?

Recruitment is a lengthy process that requires reading multitudes of resumes, interviewing numerous people, negotiating with the best candidates, creating job offers, and onboarding.

Do I need help with my employee payroll?

Automating salary payouts is one thing, but there’s more to payrolls than this. The following tasks also fall under the responsibility of doing payrolls:

Keeping track of payroll records
Distributing pay stubs
Fulfilling W-2s for tax season
Administration of garnishment and deductions
Paid time off accruals

Do I need help with complying with local laws and regulations?

Every locality and state has different laws and regulations, each with varying repercussions if not complied with. Thus, you need to read, understand, and stay up to date with these laws to ensure that your company operates smoothly.

Do I need help managing employee benefits?

For small to medium enterprises, premiums for employee benefits can cost a lot more because of the size of your business.

Along with finding the best pay structure for your employees also comes answering any questions they might have about the service.

Do I need help with day-to-day operations?

Running a growing business while accomplishing all of the things above is a lot of work and is overwhelming.

Day-to-day operations can take up a lot of your headspace, which may mean that you won’t have enough energy to focus on pushing your business further.

Choose the right PEO for your business

The right PEO for your business is the one that can fulfill your needs while matching your budget.

Often when you’re looking for the right company to hire, you’ll go into a lot of meetings and lengthy negotiations to see if you can agree on a price. All of this adds up to a lot of lost time, not to mention that you might even hire a PEO that isn’t the perfect fit for you.

Working with a PEO Broker can help eliminate a lot of the legwork in identifying the right company to work with at the best rates possible.

Working with Dinsmoresteele

Growing your business, especially during a pandemic, is a challenging task. But, having to think of ways to scale your business and develop new products while running day-to-day operations means that your head is always in your company.

Having a trustworthy PEO that can anticipate your needs is a tall order that usually requires a lot of trial and error for most businesses, but a PEO Broker takes the guesswork away from you. A broker can match your business with proven and tested companies that anticipate your firm’s needs while fulfilling them effectively.

Ready to move forward with PEOs that understand you and your business? Click here to learn more about how a PEO Broker can help you with this.

How PEO Brokers Help Small-Medium Size Businesses in 2022