Bob Thomas, Executive Vice President, Resourcing Edge
I am excited to announce an exciting new partnership between Resourcing Edge, a Professional Employer Organization (PEO), and MIRA. Unfortunately, most business owners have never heard of the term “PEO” and do not understand why they would need one or maybe unsure if they should partner with one.
Before diving into what a PEO is and the strategic benefits it provides, I want to make note of the conversations I have been having with many MIRA members. I am deeply impressed with the owner’s passion and the rich history of their businesses. In each case, there is a clear devotion and drive to leave the business better than they found it. The only things I don’t hear are, “I can’t wait to pay taxes” or “I love firing people.” That’s where Resourcing Edge comes into play. A PEO is designed to help alleviate these types of tasks so you can focus on what’s most important to you – running your business. We understand how valuable your time is and how stressful it can be when trying to juggle all the different components of a business!
Therefore, what does a PEO do and how can it help you? A PEO brings talent to the business to help with taxes, compliance, best practices, and human resources. Rather than spending your extra time and money to retain a lawyer or bring expensive operational support, PEO’s can help. PEO’s provide technology that combines payroll, training, benefit administration and many other HR functions all into one technology platform. This saves time and provides a more seamless experience. The PEO negotiates benefits on behalf of all their clients and their employees. They generally get access to better rates, better plan designs, and can offer them to a small business. PEO’s also help a business stay compliant with hundreds of laws while taking the liability for that compliance. Give the burden of dealing with these administrative tasks to Resourcing Edge – that’s exactly what we’re here for.
Furthermore, how did PEO’s come about? The concept of PEO first came into existence in the 1970s. The rationale for a PEO was to leverage HR and compliance services for small businesses and deliver them at an affordable cost.
Fast forward to today, the industry has evolved to combine technology, HR expertise, benefits, and workers’ compensation to holistically serve the needs of small to mid-sized businesses. There are almost 500 PEO’s in the country, covering over 4 million workers. Additionally, the United States Small Business Administration has reported that companies utilizing a PEO have a 50% greater likelihood of success and grow 9% more than those not utilizing a PEO.
As a member of MIRA, you can expect a negotiated rate that’s competitive in the market and beneficial to you as a member. You will also have a dedicated team to support you and help ease the burden of some of the pain points of being an employer. Please look for details on the MIRA website and reach out to us to learn more. We would love to help you!