When you own and operate a business, there are dozens of tasks that seem to “pop-up” at every turn. Some you can control and many you can’t. And the more people you have, the more uncontrollable tasks seem to arise. Having an accountant, HR professional, controller, COO, etc. might be wonderful – but it isn’t very realistic for many businesses. A professional employer organization (PEO) may be able to provide those same services for you at a more attainable level for your size business.

I have found that PEOs provide necessary assistance for businesses, but for some reason many don’t see them as vital partners as they do with CPAs or attorneys. But why not? The reason I hear most is that business owners feel they can figure these things out on their own. And certainly, some can, but I’ve talked with many that run into problems that a PEO would have avoided or solved for them.

Certainly, you may “save” money doing things on your own, but will you lose money in the long run? You’ll certainly lose time, and time is indeed money. I prefer to lean on experts and utilize the knowledge they have to help our business:

• Improve operations
• Help with regulation and compliance
• Assist with human capital needs
• Streamline our management practices

In addition, there is an aspect of “risk management” in using a PEO. The liabilities we have as business owners include the proper management of our various payroll, HR, insurance, benefits, and “people” needs. A PEO brings expertise from these segments to the table, giving you a breadth of knowledge that a single person is unlikely to possess.

As an additional incentive, a PEO can provide you with “buying power” of sorts for negotiation. While losing the revenue from my small business would have little impact on a large corporation, the combined portfolio of most PEOs gives them an influence that we are unlikely to have otherwise.

To summarize, I’d suggest any business owner consider the value that a PEO can bring to your operation – and to your team. It may save you time, money, and much more as an investment for your future.