If it were possible to buy time, how many business owners would spend money to gain time?
Efficiency. ROI. Expense ratio. Determining an accurate cost of time is challenging. A successful business owner knows the cost of overhead, internally slicing and dicing the quantitative expense amounts for various departments and functions within the operation to come to a comfortable approximation of the ephemeral, though finite, asset known as time.
Regardless of the methodology, the business succeeds (or fails) by the ability to pay bills + some left over = success formula.
Sometimes the ability to recoup time is not obvious…for example, outsourcing. An easy choice for some roles, such as janitorial duties or computer support. Some employers are used to outsourcing the responsibilities of payroll; payroll tax administration; bank reconciliation; child support payments; wage and hour policies; workers’ compensation purchases, audits and claims. What about the duties of employee benefits? What about dealing with the shortage of health insurance carriers, rising premiums, and the complications of doing business across state lines with some employees working from home?
A PEO Can Help Recoup Time
Using a Professional Employer Organization (PEO), certain duties of the employer can be transferred to a licensed, and/or federally certified PEO, allowing thousands of employers to join together to bring down costs. Businesses and employees benefit with secure cloud access to computing systems that allow owners to control rates of pay; scheduling; hiring and motivating staff, with multiple-employer buying power providing technical evolution. Under a single FEIN, the PEO can purchase health insurance for many companies together as a single large group; take advantage of volume discounts on workers’ compensation premiums; provide easy access to 401(k) retirement plans; and, reduce liability.
Call Sam Bond Benefit Group Today
Take back time. Enjoy volume discounts. Transfer liability and headaches. It is best to use the advice of a trusted resource for your PEO search. Samantha Bond Richman, founder of Sam Bond Benefit Group, provides independent guidance for PEO search and selection. Sam Bond Benefit Group is a licensed agency and Sam has over 30 years of industry experience. For more information, contact Sam today or call (877) 426-6320.
