Is my business too small for a PEO?

Is my business too small for a PEO? Read on to find out if your company is best suited for a Professional Employer Organization.

When it comes to running a business, there are countless decisions to be made and what feels like a never-ending list of to-dos. While the personnel administration requirements of running a business may feel overwhelming, the good news is there are organizations that can provide help—Professional Employer Organizations (PEOs). However, like many other business owners, you may be wondering, “Is my business too small for a PEO?” If you wonder if a Professional Employer Organization is the right fit for your business, consider contemplating the following factors.

Do you handle your own payroll?
How much time do you spend calculating time and pay, vacation and sick leave, child support, direct deposit, advances, garnishments, etc., for your employees? No doubt, payroll processing takes up a large amount of your time as a small business owner. If you currently handle your business payroll, your business would benefit from a PEO that can manage payroll processing for you.

Do you handle your business worker compensation claims?
Securing workers’ compensation coverage, calculating premiums, and filing claims can be arduous. PEO are experts in dealing with workers’ compensation. If you are currently managing your company’s workers’ compensation on your own, a PEO is probably a good fit for your small business.

Is your company growing? 
With growth comes new priorities, new struggles, and new compliance requirements. If your company is growing, a PEO can take on some of those additional personnel administration burdens to allow you to focus on your business. The best part of partnering with a PEO is that as your company grows, your relationship with your PEO grows.

Is my business too small for a PEO?
Not at all! Whether your small business employs just a few people, a few dozen, or even a few hundred, a PEO can help. PEOs are well suited for small and medium-sized businesses that do not have the means to focus on personnel administration requirements internally. In fact, the National Association of Professional Employer Organizations (NAPEO) reports that PEOs already serve approximately 173,000 small and mid-sized businesses.

If you think a PEO is the right fit for your business, consider Convergence Employee Leasing. With decades of experience serving clients throughout Florida, Georgia, and Alabama, we are confident we can help your small business succeed. Contact us today to find out how we can help you put your focus back on running and growing your business.