What's the plan > Managing costs while taking care of employees
Managing costs while taking care of employees
Manage High Employee Turnover
High turnover rates, labor shortages and a war for talent dominate recent headlines. Leaders need to understand why workers leave their jobs, how to build organizational cultures that retain top talent, and what key actions can help manage the impact of turnover on both existing and off-boarding staff. Having your business in order — from competitive compensation to the benefits employees care about most — helps minimize turnover.
Navigate Employer Compliance Regulations
Compliance regulations are the source of stress and headaches for many business owners. Keeping up with regulatory changes is more than a full-time job and errors are costly. Partnering with a PEO that can manage compliance regulations can save small and medium-sized business owners tons of time and energy while keeping costs under control by avoiding non-compliance fines. The cost of compliance is already 67% higher for small businesses than large businesses, so controlling costs is a major perk. So, what’s your plan?
Reduce Your Liability with Co-Employment
Whereas every organization aims to effectively manage costs and take care of employees while generating profit, liabilities threaten to reduce margins and create operational challenges — especially for small businesses.
A potential solution is entering into a co-employment relationship with a PEO, which can help you reduce your liability and keep costs in check. In fact, working with a PEO can save small businesses 27% on HR-related costs, helping to free up capital that can be reinvested back into operations. So, what’s your plan?