Creating a Checklist to Choose the Right PEO Partner: 5 Factors to Consider
Quick look: Choosing the right PEO solution requires time and resources SMBs simply may not have. Therefore, they rely on their broker relationships to match them with options best suited to their individual needs. Though HR services may be similar among different PEO companies, a superior level of care is what stands out as one of the greatest advantages.
Introducing a professional employer organization (PEO) solution is a strategic way to power growth for small- and medium-sized business (SMB) clients. It delivers an extensive suite of HR services and expertise focused on putting people first. However, the “human” aspect of HR is often overlooked with big-box PEOs, so it’s important for brokers to prioritize client relations when securing the right partnership.
Due to the number of companies big-box PEOs provide service for, it’s easy for SMBs to get lost in the shuffle, and their experience suffers. As a result, there’s a greater appreciation for a tailored, person-to-person approach to ensure their individual needs are met. When helping clients choose the right PEO partner, here’s a checklist of five factors to consider.
1. Dedicated customer service
Big-box PEOs rely on support ticket systems to answer inquiries in the order they’re received. This usually means working with customer service representatives unfamiliar with your clients’ unique situations and a greater likelihood of receiving an automated response rather than a customized resolution. This “take a number” system lacks the service level often needed and leaves business leaders underwhelmed.
Alternatively, with ExtensisHR, each SMB partner benefits from a dedicated customer service model and HR manager committed to taking action in a proactive, personalized way. A team of experts is on-hand and equipped with superior training and expertise to handle all questions and concerns in a timely manner. And with a 97% same-day response rate, SMBs feel they have support available to them in the moments they need it most.
2. Industry credentials
SMBs should feel confident in knowing their PEO partner is well-equipped to handle their HR challenges and will implement accountability measures to ensure sensitive HR data is securely managed and protected. There are several credentials a PEO can uphold, and ExtensisHR is included in the 1% which maintains ESAC Accreditation, Certification Institute (CI) for Workers’ Compensation and Risk Management, and is an IRS Certified PEO (CPEO). To further support a dedication to excellence, it also maintains a Service Organization Control (SOC) Type II Certification and is listed as a SHRM-certified HR professional.
3. Comprehensive HR services
Most big-box PEO solutions offer standard HR services including payroll and benefits, though billing is often unpredictable or unclear. The value of choosing a PEO like ExtensisHR is access to an all-inclusive service portfolio complete with transparent pricing and billing. Additionally, straightforward reporting makes it easy to gauge improvements, calculate ROI, and forecast business growth.
Furthermore, ExtensisHR offers full-service recruiting versus applicant tracking systems and salary surveys often used by big-box HR providers. In today’s competitive workforce, it’s important for a PEO partner to wholeheartedly invest in the process, from fully understanding the scope of available positions to aligning characteristics of top candidates to secure ideal employee fits.
4. Competitive Net Promoter Score (NPS)
Client satisfaction levels can be measured by a net promoter score (NPS) which, on average, is 37% among outsourced HR providers. ExtensisHR more than doubles this percentage by maintaining an NPS of 82%. This reflects how HR experts go above and beyond when it comes to service and the way they embody qualities like trustworthiness, accountability, and personability.
5. Proven history of success
Company stability helps provide assurance of the success of services. ExtensisHR has 25+ years of history helping broker and SMB relationships thrive through its customized PEO solutions. Additionally, there’s a track record of year-over-year growth rather than growth through acquisition, as with big-box HR service providers. As companies reach different stages of development, ExtensisHR proves its solutions are flexible and can adapt.
How a PEO partner adds to an SMB’s growth strategy
SMBs look to brokers for new ways to expand, and a PEO solution from ExtensisHR allows company leaders to focus on the strategy and operations necessary to reach these goals. HR experts are equipped with the resources and technology to create an exceptional client experience and lead with a service-oriented approach. Meanwhile, SMBs have access to top-tier benefits and advantages big-box providers offer but with a flexible service model to generate new opportunities.
A well-researched PEO solution gives brokers a competitive advantage. It provides its clients with a cutting-edge HR solution which keeps both cost-effectiveness and competitiveness in mind. Services include:
HR guidance and support
Tailored HR administration and management of payroll and taxes, as well as talent recruitment and retention expertise, all handled under one service umbrella.
Benefit services
Benefit planning and implementation are finely tuned to each company’s specific demands. As the workforce continues to evolve, staying ahead of benefit trends and knowing how to handle rising costs is critical to recruiting the most qualified individuals.
Risk & compliance services
Protecting a company and its employees is a round-the-clock responsibility as laws and regulations often change, leaving many SMB leaders vulnerable. ExtensisHR helps SMBs create a compliant work environment through risk management, which minimizes costs, claims, and potential workplace threats.
HR technology
Technology allows SMB leaders to access information at their convenience, wherever they are. Among its many functions, the Work Anywhere® platform securely manages all HR tasks, consolidates workflows, synchronizes goals and performance, and improves cost management.
When talking with SMB clients regarding possible PEO solutions, it’s important to discuss areas they face the most challenges. Often, the full-time dedication necessary to create competitive benefits and handle the full scope of HR tasks becomes overwhelming. We’re here to support broker relationships by streamlining HR services and costs with a simplified solution.
ExtensisHR checks the box for the most important areas your clients need to succeed. Contact our team of HR experts today to learn more about how we can help you.
