01 21 2021
We opened our doors here at Aspen HR three years ago in order to serve an unmet need in the market. We have grown significantly since our start and are now excited to have launched our new PEO offering. Similar to our launch three years ago, we have started our PEO in response to high demand from our clients and the market.
Professional employer organizations (PEO) provide HR services and solutions for small and mid-size businesses, saving both time and money. Outsourcing payroll and tax administration, benefits, HR, and regulatory services to a PEO allows business owners to focus on other aspects of running their business. All businesses can benefit from a PEO, but small to mid-size companies in a growth stage benefit the most:
- Companies that work with a PEO grow 7% faster.
- Employee turnover is 10-14% lower than businesses managing HR on their own.
- Businesses working with a PEO are 50% less likely to go out of business.
- PEOs save businesses, on average, $450 per year per employee on administrative costs.
Business owners want to focus on running their business. As it grows, they often find they do not have the training to meet regulatory requirements on employee benefits, taxes, and human resources issues. PEOs ensure that their business owner clients comply with the continually changing employer-employee regulations landscape.
PEOs can provide benefits that employees of Fortune 500 companies have access to, enabling smaller investment funds to remain competitive in hiring and retaining their employees. PEO group benefits include:
- Healthcare, dental, and vision insurance.
- 401(k) plans and other retirement savings plans.
- Life insurance and other insurance options.
- Dependent care and adoption assistance.
- Personal care and group health club membership.
- Counseling services including employee assistance programs.
We are thrilled with the feedback received from clients on our PEO offering. Please contact us to learn how Aspen HR provides investment management firms with white-glove service customized to their needs.