If you are considering “breaking up” with your PEO to search for other options there are a few things to consider even before you start the process of getting quotes. Understanding what your business truly needs is critical in finding the right partner to support you in running your business. There is a lot that goes into any transition, and transitioning PEOs is no exception. Any change in how you manage your HR administrative services can initially be costly – both with your time and money – so you want to be sure that you make the right move to the right partner at the right time.
Here are some things to consider before formally starting the evaluation process:
What does my business value? To some cost is king. To others cost is important but providing benefits that match a company’s culture is almost equally as important. If your company is in a highly competitive recruiting environment having all of the small, seemingly nice to have benefits could actually be a necessity to win the talent you need to propel your business forward. Some businesses value their PEO/HR Administrator relationship in time. Is running payroll and benefits seamlessly with little interaction your ideal state, or is having a partner who consults with you and spends time with you your ideal state?
What Are Your Foundational Needs Versus Nice-to-Haves? Paying employees and providing benefits typically top the list in the foundational needs, but what are your other non-negotiables? Some companies in the growth phase of their business are willing to sacrifice cost for quality and for someone else doing the heavy lifting. Companies with high turnover environments may be looking for ease of use in onboarding and off boarding. Companies with a higher paid employees, like engineers, doctors, and lawyers, may see personal support as a foundational need. Regardless of your business type or growth phase, take the time to acknowledge what your top 1 or 2 needs are and use them as your guide in the evaluation process.