Often, people start a business with so much passion for what they're doing but overestimate themselves. Then, when their business grows larger than they thought possible, this passion fizzles into burnout and frustration as things get more challenging.

If you are experiencing this, it’s time to get help. Get professionals to assist you in running your business, especially the nitty-gritty of paperwork, hiring, payrolls, termination, insurances, compliance, etc. You cannot let your business become your primary stressor because you're stretched too thin. Why not entrust the day-to-day tasks to competent people so that you can work on building and innovating your business?

If you can relate to any of the things above, you probably need to start thinking about finding a PEO Broker to help you outsource some of the administrative aspects of your business.

In this article, you'll learn the following:

What is a PEO?
What is a PEO Broker?
How can a PEO Broker help reduce your costs?
Can a PEO Broker help select the right PEO for your business?

What is a PEO?

A PEO or Professional Employer Organization is an entity that supports businesses in various employer-related responsibilities. There are hundreds of PEOs worldwide, and each one can offer different services for your business.

A PEO provides you the following services:

Employee Benefits Management (Health Insurance, Workers' Compensation, Unemployment Insurance, etc.)
Payroll
State and Federal Taxes
Human Resource Service and Support (SHRM Certified)
Recruitment
Employee Onboarding from Hiring and Termination

With the sheer number of PEOs to choose from, it's easy to find yourself struggling to find the best. This is where a PEO Broker comes in.

What is a PEO Broker

A PEO Broker is an individual or a firm with a network of PEOs under its belt. It matches the services of the PEOs to the businesses that they represent.

If you get your business represented by a PEO Broker, it will take note of the size of your business, your goals, and your needs, then link you with the PEO that best suits your requirements.

PEO Brokers are in the business of saving you money by working with you so you can run your business smoothly and focus on growing your company.

PEO Brokers Can Help Reduce Your Costs

PEO Brokers understand different businesses and know the various industry standards for each company, meaning they know what you exactly need. PEO Brokers can also create a market for your business. This will enable you to benefit from lower contract prices as PEO companies compete with each other to have you as a client.

Experts Negotiating on your Behalf

PEO Brokers know your company’s needs and the right price for these services. Take advantage of the relationship between your PEO broker and the PEOs in their network. Your PEO Broker will help you get a better deal for the latter’s services and may even help you streamline the hiring process for the best PEO to suit your needs.

Reduce Chances of Management-Related Errors

As a business owner who started a company from the ground up, you might find it challenging to take care of the nitty-gritty of your business like compliance, labor laws, and workers' compensation claims, to mention a few. There's a lot of paperwork involved in the management of your company, and it's best to find someone who can help you with this administrative work.

Hiring a Dedicated HR Only When You Need To

Employing a dedicated Human Resources Department can be very costly for a small-to-medium enterprise. Outsourcing this job enables you to focus on innovating your business instead of running its day-to-day affairs.

PEO Brokers Can Help Select The Right PEO For Your Business

A seasoned PEO Broker can help select the right PEO company for your business by looking at all your needs and pain points. Being a business owner is already a lot of work without the paperwork.

A PEO Broker can help you find the right partner for your business to keep it running in tip-top shape. Working with a PEO Broker is a great step toward solving administrative woes while also providing a better service to your workers.

What is a PEO Broker? Does my Business Need One?