Empower your portfolio companies by partnering with a PEO that can offer the HR infrastructure needed to help them grow and scale.
For example, a recent VC-backed client in the fintech sector was overpaying for a costly benefits package that also underdelivered for their employees. Not only were they bleeding money, but they were also carrying significant HR compliance risk.
Our expert team was able to save them over $370,000 annually (all-in) by providing them with a Fortune 500-level benefit offering, all while solving their HR compliance issues and offering dedicated support. Needless to say, both the employees and the company were thrilled with the improved savings and coverage.
Below, we review some of our PEO services for portfolio companies.
Navigating the intricacies of benefits can be challenging for portfolio companies especially as they acquire other companies. At Aspen HR, we don’t just curate benefits packages tailored to your unique needs; we also manage the finer details. From addressing queries during open enrollment to overseeing the entire enrollment process, handling invoicing, and resolving any claims issues for both employees and executives, we’ve got you covered. When a client acquires another company, we are here to ensure the transition is smooth and that the employees from the newly acquired company are happy with the new benefits package.
We offer a comprehensive HR technology platform that automates the entire employee lifecycle. Aspen Cloud is a single-database, integrated platform that includes applicant tracking, employee onboarding benefits enrollment, learning and development, performance management, employee portal and a client portal.
Portfolio companies often require specialized payroll solutions, given their unique reporting needs and rapid growth. Aspen HR brings a wealth of experience to the table, ensuring that your payroll needs are met with precision. Our cutting-edge Aspen Cloud platform streamlines the payroll submission process, allowing teams to monitor status in real-time. While you focus on your core operations, Aspen HR will handle the complexities of payroll processing, tax filing, while ensuring you never miss a deadline.
The ever-evolving landscape of employment laws can be a minefield for portfolio companies that are expanding into new states on a regular basis. This is where Aspen HR steps in. Our team of experts is dedicated to staying abreast of employment regulations across all 50 states. With our PEO services, you can be confident in your compliance with labor laws, allowing you to concentrate on your primary business objectives.
Operating across California and North Dakota, a life sciences venture fund was grappling with service issues from their then HR provider, which was a large national firm. They thus needed a new PEO partner that could manage their remote employees, who were scattered across multiple states.
Aspen HR’s white glove service model caught their attention, and the venture fund went on to make the switch. We then developed custom offerings for the firm, with which we proceeded to support their human resource operations.
The subsequent results were remarkable – as we raised their employee satisfaction rate and saved the company over $150k.
A California-based private equity firm was in the process of acquiring a home infusion company in Texas. During the due diligence phase, though, the buyer expressed concerns regarding potential HR risks on the side of the home infusion entity. It then sought Aspen HR’s expertise to evaluate the risks.
Aspen HR successfully identified multiple issues, including inefficient manual HR processes, invalid non-compete agreements, outdated forms, and job misclassifications. Consequently, the buyer engaged Aspen HR to implement corrective actions post-acquisition, making us the company’s long-term HR partner of choice.
A PEO, or Professional Employer Organization, offers portfolio companies a comprehensive suite of HR services. By partnering with a PEO, portfolio companies can streamline their HR operations, ensure compliance, manage risks, and access competitive benefits. This allows them to focus on core business activities, drive growth, and enhance their operational efficiency.
PE (Private Equity) and VC (Venture Capital) are both forms of investment strategies, but they target different stages of a company’s life cycle. PE typically invests in mature companies, aiming to optimize operations and drive profitability. VC, on the other hand, invests in early-stage companies with high growth potential, often in exchange for equity. While both PE and VC have portfolio companies, the nature and objectives of their investments can differ significantly.
During mergers and acquisitions (M&A), companies face a myriad of challenges, especially in the realm of HR. A PEO can be invaluable during this phase by:
Cost-Efficiency: Optimize HR-related costs, ensuring a smooth transition without unnecessary expenditures.
By leveraging a PEO during M&A, companies can ensure a smoother transition, minimize disruptions, and set the stage for future success.
When your portfolio company is ready to get started with Aspen HR, the next steps are simple. Just reach out with questions and our team will be happy to help set you up with our customized suite of PEO services. Contact us today!