Solving HR Needs for Small and Medium Businesses

Solving HR Needs for Small and Medium Sized Businesses

A PROFESSIONAL EMPLOYER ORGANIZATION PROVIDES THE SOLUTIONS BY BEA DOERR, INSPERITY

While St. Louis area business owners are optimistic about their companies and the local economy, they still face a significant challenge attracting and retaining great employees. Similar to the nationwide trend, employers in the Gateway to the West are competing for talent in this job seeker’s market. According to survey results for the 2022 St. Louis Economic Outlook Report created by the St. Louis Business Journal, 73 percent of respondents say finding and keeping good employees is a concern in 2022, up 28 percent from last year. When rating areas of difficulty for attracting talent to their companies, 82 percent of respondents say finding quality candidates is the top concern; 60 percent refer to the availability of candidates for the interview process; and 53 percent cite the time frame for filling a job. Savvy St. Louis business owners can help avoid being part of these statistics by enlisting the services of a professional employer organization (PEO), which provides a comprehensive range of HR solutions to small- and medium-sized businesses. Below are three ways PEOs play a valuable role in boosting business success.

OPTIMIZE BUSINESS OWNER FOCUS

Business owners wear many hats, one of which is managing critical HR functions that are time consuming, involve the talent pipeline, affect employee benefits, impact the culture and involve risks that can have an effect on the bottom line. When small- and medium-sized businesses outsource their HR functions to a PEO, it enables them to focus on other areas of business operations that drive success. In most cases, PEOs provide a dedicated team of HR professionals that strategically guides and supports business owners in areas such as employee benefits, HR administration and payroll, risk mitigation and HR compliance and talent management. With the support of a PEO, St. Louis business owners can focus on running their companies because their people are supported by top-notch HR professionals and employee benefits comparable to Fortune 500 companies.

FACILITATE A PEOPLE STRATEGY

PEOs help to facilitate and elevate a people strategy because they assist with HR efforts that are largely responsible for developing, implementing and supporting the countless employee-related processes, programs and procedures designed to nurture/maintain the corporate culture and attract/retain top talent. PEOs can help companies develop mission and values statements, create recognition and reward programs, and conduct climate surveys that support a strong culture. A strong corporate culture based on the mission and core values of a company is the foundation on which employers take care of their people. To compete in the war for talent, it is critical for businesses to support and focus on a people strategy that is equipped to handle the changing needs of an employee-driven workforce. PEOs play a valuable role in guiding and positioning companies to address existing and future needs in the workforce for a competitive advantage.

PRIORITIZE TALENT MANAGEMENT

People are a differentiating factor, so getting it right by attracting, hiring and retaining top performers should be a high priority for owners. While this might not be one of their strengths, owners can rely on PEOs to provide guidance and tools to recruit quality candidates, offer effective training and drive high performance. With the help of PEOs, owners can take a more strategic approach to the employment needs of their companies. When owners share long-term objectives, their PEO team knows the critical skills needed. Conversely, PEO professionals can help owners learn why top performers leave the company and if they go to competitors. This offers an opportunity for PEOs to work with owners to develop solutions to address problems, avoid further departures and strengthen the culture. St. Louis business owners who utilize the services of a PEO are not only better positioned to focus on their companies, but they are also well-prepared to attract quality candidates and retain top talent to propel their companies forward in 2022.

BEA DOERR is a business performance advisor for Insperity, a leading provider of human resources and business performance solutions. To contact Bea, you can call her cell phone 309-275-7945 or email bea.doerr@insperity.com or for more information you can visit www.insperity.com.