DIY, Broker, or Comparison Website: What You Should Know About Choosing PEO Services
If you’re a small business owner looking for relief from the constant barrage of paperwork and HR responsibilities, you’ve probably entertained the thought of hiring someone to help you. Outsourcing administrative work like tax prep and filing, compliance, workers’ comp, and payroll gives you more time to focus on other parts of your business and keeps you up to date on legal requirements and regulations.
But finding the right HR partner isn’t always easy. You’ve got hundreds of options clamoring for your attention—so how do you know which one to choose? How can you accurately compare PEO services and make the right choice for your business?
3 Ways to Compare PEO Services: Which One is Right for You?
Choosing an HR outsourcing provider takes time and effort. And sometimes the hardest part is knowing where to look for the best information. Let’s take a look at three of the most common ways people research and compare PEOs and see how they stack up.
The DIY Method
Every research project has to start with an analysis of your requirements so that you can find a vendor who meets your needs. If you’re a DIY-er, that means opening up a good old-fashioned Excel spreadsheet and making lists. Lots and lots of lists. You know the drill: Put your requirements down the left side and your list of vendors across the top and start checking things off. Make a shortlist, watch demos, and call vendors.
It’s effective, but also extremely labor-intensive. But not to worry—there are better ways to find the information you’re looking for.
The PEO Broker
PEO brokers market themselves as a comprehensive solution to finding the right PEO services for your business. The broker works with you to identify your needs and then matches you with a provider. They manage proposals and strategies and communicate your needs to the PEO. And they do it faster and at a lower cost than you could do it yourself. So what’s not to love?
Here’s what you need to remember. The PEO broker receives a commission from the PEO for each lead they provide and each deal they close. So they have a strong motivation to match you with a PEO from their list. That means you might end up paying more to a large national PEO for services you could get from a smaller, niche provider.
Another caveat when working with PEO brokers: not all brokers are equally qualified. Anyone can hang out a shingle and call himself a broker, but that doesn’t mean he has the knowledge and experience you need to truly find the best fit.
Comparison Websites
Yes, we’re biased, but we truly believe that comparison websites offer you the best information with the least bias. That’s why we created our one-of-a-kind PEO matching tool. With our tool, you can cut the spreadsheets out of the DIY method, talk only to the vendors you choose (not those someone else chooses for you), and get your shortlist in just twenty to thirty minutes rather than days or weeks.
Here’s how it works:
Step One: Make your list of requirements.
Step Two: Determine your budget.
Step Three: Take our survey to answer questions about the specific needs of your company.
Step Four: Get your list of matching vendors based on the PEO services you need.
It’s that easy. With your short list in hand, you’re ready to talk with the vendors, get quotes, and make your decision.
Why Choose a Comparison Website?
A comparison website strikes just the right balance between the DIY method and a broker. Our survey reduces the amount of time and effort you have to invest in the research process while leaving you in charge of the process. You get to know the vendors and get your questions answered without having to go through a middleman. And when you have all your information in hand, you can make your decision the same way you run your business: by putting your business sense and instincts to work and choosing the best option for you.
Ready to give it a try? Use our PEO Matching Tool to find the best PEO services for your small business!
