Managing human resources can be overwhelming, especially for businesses looking to balance growth with efficiency. That’s why many companies turn to Professional Employer Organizations (PEOs) to handle HR administration, benefits, and compliance. But as your business evolves, it’s crucial to reassess whether your current PEO still meets your needs.
At Cosmo Insurance Agency, we understand the importance of having the right HR solutions in place. Use this checklist to evaluate your current PEO and see if it’s time to make a change.
Signs Your Business Has Outgrown Its PEO
Consider whether your company has experienced any of the following changes:
- Headcount fluctuations
- Increased gross payroll
- Mergers or acquisitions
- Recruiting and retention challenges
If any of these situations apply, it might be time to reassess your partnership.
Red Flags with Your Current PEO
Evaluate your current PEO to see if any of these issues sound familiar:
- Limited benefits options
- Generic or outdated reporting
- Disconnected systems causing inefficiencies
- Lack of fee transparency and unexpected markups
- Poor accountability and service quality
Did you know that similar to renting an apartment, your PEO rates often increase every time you re-sign your contract? Additionally, consider whether your PEO is limiting the number of health or dental plans you can offer your group.
Financial Considerations
Are you receiving your Section 125 tax savings as an employer, or is that money going to your PEO? Are you getting all your workers’ compensation credits? If you’re unsure or answered “No” to these questions, it’s worth investigating further.
Ready to Make a Change?
If you’ve identified any of these challenges, it may be time to explore new options. At Cosmo Insurance Agency, we’re here to support you through every step, from assessing your current setup to transitioning to a more suitable solution.
Why Choose Cosmo Insurance Agency?
We provide comprehensive solutions that offer:
- Scalability for any business size
- Customizable employee benefits
- Transparent pricing and reporting
- Robust compliance support and guidance
- Streamlined payroll and HR processes
Switching from a PEO doesn’t have to be overwhelming. We’ll work with you to understand your unique needs and craft a plan that aligns with your business goals.
Take Control of Your HR Strategy Today
Contact Cosmo Insurance Agency to discuss your current PEO arrangement and discover how we can help optimize your HR and benefits management. We’ll ensure that your solution grows alongside your business.
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