Determining a PEO Fit
When considering a professional employer organization (PEO), your clients may have many questions about if a PEO is the best fit for them, especially if they are in a high-risk industry like manufacturing, logging, or cannabis. To help your clients figure out if a PEO is the best solution for their business, have them consider these three factors.
- Size. While there isn’t a minimum or maximum number of employees a business needs to benefit from a PEO, PEOs most often work with small to mid-sized companies. However, they can have benefits for any kind of businesses, including those with very small workforces.
- Needs. Partnering with a PEO can have many benefits for your clients, including assistance on key tasks like HR, payroll processing, risk management, and Workers’ Compensation coverage. When considering a PEO, your clients should think about their needs and how a PEO can help them.
- Budget. While considering a PEO, your clients should consider their budget and the financial benefits of using a PEO. If a client has a limited budget, a PEO may be beneficial, as it allows them to save money on areas like HR and payroll. Working with a PEO can also help your clients secure more affordable Workers’ Compensation coverage.
If they are in a high-risk industry, your clients might also consider factors like risk management and compliance needs. If they are in an industry with high risks or strict compliance and regulatory requirements, a PEO can provide the extra assistance and support they need.
At PEO Insurance Brokers Network, we work directly with insurance agents and PEOs, and will put our knowledge to work to find the best fit for your clients. We provide Workers’ Compensation coverage to businesses in need, no matter the risk, and will help you find the best PEO coverage and savings for your clients in high-risk industries.
To learn how we can help you find coverage for your high-risk industry clients, please reach out to receive a quote.
