A PEO, or “professional employer organization”, is a full-service extension of your HR department. PEOs help small and mid-size businesses manage critical HR functions like employee benefits, payroll, compliance, and HR management. With the support of a PEO, small and mid-size businesses (SMBs) are able to reduce costs, increase employee satisfaction, and dedicate more time to their core business. On average, small businesses that partner with a PEO grow 7-9% faster than SMBs that opt to handle everything on their own. Keep reading to learn three ways a PEO can help your business foster a culture that encourages employee productivity and growth.

According to SHRM, over 60% of employees consider medical, dental, and other benefits to be important factors contributing to their overall job satisfaction; however, offering top-tier employee benefits often seems impossibly expensive for SMBs due to their relatively small employee numbers. This tends to lead to higher group rates for employee benefits like premium medical insurance plans, making it difficult for SMBs to compete with the kinds of employee benefits packages offered by larger businesses.

A PEO, on the other hand, combines the purchasing power of all its clients to access the best possible rates for a diverse range of employee benefit plans. Partnering with a PEO enables SMBs to access those same discounted rates, reducing overall costs while making it possible to offer employees better coverage options.

Research from McKinsey & Company shows that gender-diverse companies are 15% more likely to outperform their peers, and ethnically diverse companies are 35% more likely to do the same. The business case for greater diversity, equity, and inclusion efforts is clear, but data indicates that reality hasn’t caught up yet: according to research conducted by Accenture, 68% of leaders feel they create empowering environments in which employees can be themselves, raise concerns, and innovate without fear of failure — but only 36% of employees agree.

Fostering a more inclusive environment requires a staunch dedication to uncovering and resolving the inequities experienced by marginalized groups. This starts with a commitment to learning and understanding the impact of systemic and institutional racism, as well as unlearning the biases that perpetuate discrimination of any kind.

It can be a challenge for any businesses to figure out how to navigate such sensitive issues on their own. By partnering with a PEO, SMBs can rely on the support and expertise of certified HR professionals to help guide their own diversity, equity, and inclusion policies. A PEO might also provide access to educational resources and referrals to local training programs that may help.

As technology becomes a more prominent part of everyday life, employees expect convenient digital solutions for routine work tasks as well. From tracking time to managing their PTO, today’s employees want digital self-service tools that simplify burdensome procedures and make it easy to stay connected anytime and anywhere.

Replacing legacy systems with new technology can seem daunting, but a PEO can help make the process as smooth as possible. With a PEO’s help, SMBs can choose from a wide range of HR management and productivity platforms to streamline operations, reduce administrative strain, and improve the employee experience. A dedicated team of HR specialists would then work with your business to figure out the best technology solutions to resolve specific pain points and custom configure the platforms to meet your business’s unique needs.

It’s hard to run a business, but you don’t have to do it alone. Partnering with a PEO can help reduce costs, streamline operations, and propel your business toward greater success.

PrestigePEO is dedicated to continuously improving critical HR functions like payroll, employee benefits, legal compliance, and more for our clients. Contact PrestigePEO today to learn more about all of our service offerings.

PrestigePEO was able to participate in the “Meals from the Heart” Brunch/Dinner program at the Ronald McDonald house in New Hyde Park . This program provides the opportunity for businesses and individuals to plan and prepare a dinner for their residents and families who current receiving treatment from the local children’s hospital. We had nine volunteers from Prestige prepare a 5 course Italian style dinner that was served to over 60 Ronald McDonald house residents.

20 Year Anniversary Highlights The Way Growing Businesses Benefit from Professional Employer Organizations (PEO’s)

 

Melville, NY, January 29, 2018 – For the past 20 years, small to medium sized businesses have come to realize that they can be more successful by focusing their resources on the core value they provide their customers and not by duplicating every expensive business function that exists inside larger companies. Prestige Employee Administrators, Inc. a Professional Employer Organization (PEO) that offers large company benefits and services such as Human Resources, Compliance, Employee Benefits, Payroll and Retirement Plans to Small to Mid-Sized businesses has successfully supported these types of businesses. 2018 marks Prestige’s 20th year of providing quality Human Resources services. Prestige and its clients are celebrating the milestone event of the founding of the company and the benefits it has provided.

“Prestige has seen dynamic growth in the past 20 years and continues to forge ahead and maintain its World Class Client Satisfaction status year after year. The company has built a solid reputation as a PEO and has been instrumental in helping to grow the industry even in a down economy,” said Andy Lubash, one of Prestige’s Principals.  Prestige focuses on surrounding its clients with the highest quality Human Resources Services and is committed to helping clients stay in compliance with the latest laws and regulations affecting their businesses. This, in turn, helps clients focus on growing their businesses.

Prestige has seen exceptional client retention rates due to the fact that the original principals (Andrew Lubash and Alan Cooperberg) continue to own and operate the business today. The management team has also added two (2) new principals since inception including Larry Lynch and Brian Lehmann, who have brought a wealth of enterprise leadership & insurance expertise with them that continues to help take the company to the next level.

Prestige opened its doors in Woodbury, NY in 1998 with two employees and rapidly expanded and moved its corporate headquarters to a 10,000 square foot facility in Melville, NY.  Prestige currently employs 90 associates and continues to hire additional staff.  Prestige’s extraordinary client service has enabled them to receive recognition by being named #28 on Crain’s NY Business List as one of the largest privately held companies in the New York area.  In addition, Prestige has been named on the Inc. 5000 List as one of the fastest growing privately held companies in America for the eighth year (2008-2017).

Prestige is also a member of the National Association of Professional Employer Organizations (NAPEO). Prestige’s leadership team is fully engaged with this organization and has helped the PEO industry grow by being part of the Government Affairs Committees. The company continues to pave the way in the PEO industry and help business owners navigate through Health Care Reform and Federal, State & Local employment compliance issues.

About Prestige Employee Administrators, Inc.

Prestige Employee Administrators, Inc. a Professional Employer Organization (PEO), offers large company benefits and services such as Human Resources, Compliance, Employee Benefits, Payroll and Retirement Plans to Small to Mid-Sized businesses. Since combining the purchasing power of many small to mid-sized businesses results in discounts and economies of scale, we can deliver our expertise at no or lower cost to our clients. When partnering with Prestige, companies receive a comprehensive array of services to care for their staff and ease the burden that complex, time-consuming and costly employment-related rules, regulations and filing requirements place on a firm. For further information, please visit www.prestigepeo.com.

 

PR Contact:

Kerry Kaiser
Marketing Coordinator
Prestige Employee Administrators, Inc.
516-692-8505
Email: kkaiser@prestigepeo.com