Focus On Employee Satisfaction And Build A Stronger Company
Businesses grow and succeed with employees who are committed to their employer. Hiring, motivating, and engaging employees, in addition to conducting all the necessary business functions an owner has to fulfill, takes valuable time away from concentrating on profitability. Meeting employee satisfaction needs can be complicated, and keeping employees happy is necessary to keep customers happy.
How A PEO Can Help Boost Employee Satisfaction
Using the services of a PEO (Professional Employer Organization) has been shown by research to improve overall employee morale, translating to growth and increasing strength and resilience of the business. Research supports this with employees confirming they believe their company using a PEO:
- Demonstrates a commitment to them as employees (average response was +8 percentage points higher);
- Has good hiring practices (+8);
- Has good HR policies and practices (+5);
- Does a good job of designing employees’ jobs (+4); and
- Provides employees with good training and development opportunities (+4).
Different than a headhunter or temporary help firm, PEOs aggregate the needs of many employers and give them a solid framework to avoid a haphazard human resource function. PEOs allow employers to transfer the responsibilities of payroll, payroll taxes, unemployment, child support, and other related administrative duties. Workers’ compensation on a master policy is as simple as paying the premiums as payroll is earned, no down payment or audit necessary in most cases. Employee benefits can be purchased from national name carriers at large group rates, saving the employee and employer valuable premiums while taking advantage of economies of scale and real time premium reconciliation. Even 401(k) retirement plans can be transferred to, or provided by, the right PEO.
Employees Report Higher Morale And Job Satisfaction When Working For Companies That Use A PEO
Employees of PEO clients also report significantly higher scores on key measures related to employee satisfaction and confidence in company management:
- Levels of employee engagement (+5);
- Intention to stay with their current employer until retirement (+8);
- Belief that employer is taking the right steps to be competitive (+8);
- Trust that employer is supporting employees in delivering excellent customer service (+7); and
- Confidence in employer’s approach to growing the company (+5).
Find Out More About Partnering With A PEO. Call Sam Bond Benefit Group Today For Independent Guidance
All PEO companies are not alike and understanding the meaningful differences is an important step for any firm considering the concept. Learn more about the PEO concept and how a professional employer organization can help add value to your company’s performance. Call PEO specialist, Sam Bond Benefit Group today at (727) 823-2663 or contact us on our website here.