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How Can a PEO Help My Business?

Posted by Stacey Jones

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Aug 27, 2019 9:00:00 AM

how-peo-can-help-businessExpanding a business into Canada is often a logical move for American business leaders. Once you’ve outgrown the home market, moving into the similar Canadian market can give you a taste of international expansion, but without the risk of radical cultural differences.

During any expansion, though, you want to be sure you have the right players on your team. Partnering with a professional employer organization is often a good choice.

Many business owners ask, “How can a PEO help my business?” From saving you time and money to pushing forward growth, there are many different ways.

A PEO Drives Growth

One of the most obvious ways PEOs help businesses is by driving growth in Canada. A recent survey suggested companies that teamed up with a PEO realized higher growth than their competitors. Some saw up to nine percent higher growth.

How do PEOs drive growth? Simply put, they allow you to focus on the tasks you excel at while delivering superior HR services to your team. This, in turn, drives employee satisfaction.

Employees who are happy at work are more productive and creative, which then translates into higher overall productivity and higher revenue.

PEOs Save You Time and Money

The next way a professional employer organization helps your Canadian expansion is by saving you time and money. How do they accomplish that?

PEOs employ a team of HR experts who deliver service to your Canadian team. They know the ins and outs of Canadian payroll and employment law, which means they can finish up payroll sooner and avoid mistakes that might slow you down or possibly lead to penalties.

In turn, you can also save money by working with the PEO. Obviously, avoiding costly mistakes is one way PEOs could lower your expenses. Payroll being completed faster means more hours freed up for other tasks, lowering labour costs.

Professional Employer Organizations Lower Turnover

How else does working with a PEO help your business as you expand to Canada? You could realize lower turnover by working with one.

PEOs offer better HR to your Canadian workers. That can mean everything from health savings accounts to more employee development opportunities. In short, the PEO’s HR expertise translates to a better experience for your employees.

That’s why employees are often happier and more satisfied with their jobs when a PEO is part of the picture. Satisfied employees are much less likely to leave their jobs, which leads to lower turnover.

Access to Infrastructure You Need

As a US employer entering Canada, you may encounter some red tape when you’re trying to get operations up and running. Can you access a Canadian bank account? How will you deal with workers’ compensation insurance for your new Canadian employees?

PEOs can provide the infrastructure you need in short order, because they already have it in place. Instead of waiting months for approval on a Canadian bank account, you could be up and running today.

A Better Shot at Success

Did you know that employers who choose to work with a professional employer organization are 50 percent less likely to close their doors? It’s a staggering statistic.

Why is that? The cost-savings, time-savings, and more contribute to a business’s success north of the border. A satisfied team, lower turnover, and more productive employees are other key ingredients.

Finally, PEOs could also help you avoid the red tape and common mistakes that trip up American employers just entering the Canadian market. Getting the right advice could help you improve compliance, revise policies, and make the right choices for running your business.

Is It Time for a Helping Hand?

When it comes to Canadian expansion, US employers have their work cut out for them. With the right help, you can set your business up for success. Get in touch with the experts and discover exactly how a PEO could help your business.

Topics: PEO, PEO Services, Canadian PEO

Stacey Jones

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