Perks Of A PEO For EmployeesJun 08 2016, by Sales in
Agents spend a lot of time convincing business owners and employers of the many wonderful benefits of a PEO. Most often, agents hone in on the cost and time efficiency and the reduced stress for the client. But a great way to fully flesh out the pros of PEOs is to show clients what their employees will gain from this partnership. Employers and business owners know that happy employees stay with the company longer, are more productive, and do a better job overall. Providing benefits is a great way to show appreciation for employees, and it does wonders to attract the best applicants. Here are some perks of a PEO for employees that agents can bring up to show the full power of PEOs.
One major perk of having a PEO is the great health benefits. Many businesses, big, small, or somewhere in between, struggle with this. It can be difficult for business owners and employers to offer health benefits because it can be so expensive. And if they do find a health benefits package that they can afford, it’s usually the bare minimum. But agents know that partnering with a PEO allows employers and business owners to offer a much better health benefits package than they would normally be able to on their own. PEOs use their size, strength, and credibility to get the best deals on the best plans. You can tell your clients that their employees will be thanking them for providing a great plan that actually helps. And this just gives another competitive edge to your clients because a great benefits plan will encourage employees to say and drive the best applicants to their door.
Agents who have clients that operate small businesses know that just like health benefits often suffer because of the expense, so do retirement plans. Or at least, it’s very difficult for small business owners and employers to come up with retirement plans that are actually useful. There aren’t many employers with fewer than 50 employees who can offer a retirement plan at all, much less a 401k. But PEOs come fully equipped with retirement plans that can truly help your clients’ employees plan and save for their golden years. Again, employees flock to employers who offer substantial and functional benefits including retirement plans.
Of course, every business needs to have workers’ compensation coverage. But similarly to the previous two expenses, most business carry the absolute bare minimum. Workers’ comp can be quite expensive, especially for your clients in industries that are more prone to injuries, like construction. Agents need to emphasize the importance of having good workers’ comp coverage to protect themselves and their employees. Luckily, PEOs are a huge help when it comes to workers’ compensation.
Your clients are busy people, and running a business is costly enough already. But employers and business owners need to know that having health benefits, retirement plans, and workers’ comp are essential for healthy, happy employees. With a PEO, your clients can share turn over the burden to experts in the field who can get the best prices.