What can a PEO do for your bottom line?
Chief Financial Officers are considered the key numbers-driven executives in an organization, always watching the bottom line.
At BCN Services, we like to work with strategic CFOs who are looking to get the most for their dollar and not just the lowest price. That is where a Professional Employer Organization can provide the most value.
A study conducted by HR analytics experts McBassi & Company looked at broad economic changes and how they are shifting the competitive landscape for all companies. Most of these changes are, at their foundation, directly related to an organization’s people. This study highlights how a PEO can tilt the advantage to their client companies and become a CFO’s best friend.
Here are some of the study’s key points:
- Many benefit choices: Researchers found that PEO clients are able to offer a broad array of benefits to their employees at lower cost than companies not using PEOs
- Employees participate: Many of these benefits, such as retirement plans, have much higher participation rates among employees of PEO clients
- Attract and retain talent: These benefits play a major role in helping businesses attract and retain employees, reducing turnover costs
- Focus on your business: The broad array of HR services offered by PEOs also makes it possible for executives to focus attention on their core business
All these factors pay off: PEO clients have higher growth rates than other small businesses.