Access to a robust benefits package is absolutely necessary to support your hiring. Potential employees, especially those with in-demand skills, are increasingly choosing their next employer based on the quality of health benefits and leave options available. This creates a significant challenge for small and midsize businesses, which often lack the size and bargaining power of Fortune 500 companies to secure premium, cost-effective benefits.
This is where a Professional Employer Organization (PEO) offers major advantages. A PEO levels the playing field, giving small businesses benefits that are typically reserved for much larger enterprises.
The PEO Advantage: Competing with the Giants
A PEO’s core strength lies in its ability to pool together the employees of all its clients into a single, large group. This collective bargaining power gives a small business of 10 employees the same leverage as a company with 1,000 employees. By pooling employees across many clients, a PEO can negotiate access to competitive plans, offering a strategic advantage in the talent market.
Here are a few specific ways the right PEO partnership can level the playing field for small businesses:
1. Access to Premium Cost-Effective Plans
A PEO can secure discounted rates and more comprehensive plans from top-tier insurance providers. This provides small businesses with access to a broader range of high-quality health, dental, vision, life, and disability insurance options. Rather than settling for a generic, one-size-fits-all plan, you can offer a selection of plans that meet the diverse needs of your employees, from high-deductible health savings account (HSA) options to traditional PPO plans.
2. Tailored Plans with Excellent Benefits
Today’s employees want more than just medical coverage. They prioritize holistic well-being. A PEO can provide access to benefits that are difficult for small businesses to manage on their own, such as:
- Mental Health Benefits: Expanding mental health and counseling services within health plans.
- Comprehensive Wellness Programs: Offering initiatives that incentivize healthy habits, reduce healthcare costs, and improve overall employee well-being.
- Flexible Leave Policies: Helping you navigate the complexities of paid family and medical leave (FMLA) and other leave programs.
- Retirement Plans: Providing access to robust 401(k) plans with diverse investment options.
A PEO’s expertise in tracking these trends ensures you can offer a benefits package that is forward-thinking and aligned with what today’s workforce truly values.
3. Ongoing Guidance and Compliance Confidence
The benefits landscape doesn’t stand still. New regulations, changing costs, and shifting employee expectations mean that today’s good plan may not be tomorrow’s best option.
When you partner with a PEO, you gain ongoing counsel. At LBMC Employment Partners, we continuously evaluate your benefits package to ensure it stays competitive, compliant, and aligned with your budget. For CFOs, this means fewer surprises, stronger forecasting, and confidence that your business isn’t exposed to unnecessary risk.
4. On-Demand Expertise
When employees have questions about their benefits, they can contact the PEO directly. This streamlined communication is a huge advantage for both the HR department and the employees. At LBMC Employment Partners, our intuitive online platform provides a single, centralized hub for employees to access their benefits information, payroll, time management, onboarding tools, and performance management resources.
Why LBMC Employment Partners?
Not all PEOs are created equal. At LBMC EP, we combine the scale of a national provider with the accessibility of a local partner. Our clients’ experience:
- Dedicated and Personalized Support — Our service model blends dedicated, accessible experts with a relationship-first approach that clients feel from day one.
- Premium Benefits Access — We’re able to offer access to competitive and cost-effective employee benefits packages regardless of your company’s size.
- Compliance & Tax Filing Expertise — LBMC EP offers end-to-end payroll management and custom reporting tailored to your accounting and legal ledger needs—all backed by our IRS-certified PEO status.
We’re proud to offer a model that empowers small and midsize businesses to compete for talent with Fortune 500s, allowing them to hire the best people and build a stable, productive, and satisfied workforce.
Ready to Level the Playing Field?
The fight for talent is real, but small businesses don’t have to be at a disadvantage. With LBMC EP as your PEO partner, you can offer great benefits, streamline HR, and stay focused on growth.
Learn how we can help your business attract and retain talent without stretching your team or your budget. You can also reach out to our team any time for a free consultation about the best HR strategy for your business needs.
