PEO service providers — One integral requisite for any business seeking to transition or expand its operations overseas is to get the services of a standard PEO provider.
According to the National Association of Professional Employer Organisations (NAPEO), companies that work with a PEO grow 7 to 9% faster than those who don’t.
PEO services create a reliable and trusted soft-landing for organisations that are expanding overseas for the first time or are trying to achieve a more extensive reach while avoiding the pitfalls of doing it themselves. PEO services help you to save cost and time to market by using their expertise better to establish the business entity in your new geographical location.
This is because PEO providers have specific strengths and areas of expertise. Therefore, it is vital for a business that would require the services of PEO providers to know the level at which they can trust the services to be provided.
Knowing the strength of your chosen PEO provider would allow you to make better-informed decisions and understand how to prioritise the factors that can work for your business using your chosen PEO service provider.
When searching for a PEO Service Provider for your business expansion, here are nine essential qualities you need to look out for:
1. Legal Compliance
For a business that is transitioning into a new geographical location, it is crucial to make use of a PEO provider that knows the rules and regulations. They must leave no stone unturned when it comes to understanding the legal terrain of the country where your business is about to be established. With this being done, it saves the new company the bad PR and trouble that may occur in cases where what may be acceptable in the country they are originating from is against that of the country they are coming in to.
A right PEO service provider would know what legal compliances that would make or break the market-entry organisation, and subsequently give the best-tailored recommendation on how to operate the company in their country of choice.
2. Excellent Customer Service
It is highly essential to ensure your PEO services provider understands that the customer is king, and they should be highly concerned about your organisation’s market-entry success. A PEO service provider should have a dedicated client success personnel attached to each business. With such structure in place, it is easier for you to get support when needed and for them to monitor the business operation of each client, and mitigate challenges early enough when they arise. A personalised customer service approach would ease and enable a smooth flow of operations for your organisation.
3. Speed
Saving time is highly critical and would increase your speed to market when trying to expand a business into a new market. Using the services of a PEO provider that understands the importance of time to your company and is equipped to move swiftly in getting necessary things in place for your company is crucial.
Typically it takes multiple months for business entities to have their establishment in a country when working on their own, but the right PEO services provider that knows the terrain of the country and is equipped with the experience, technology and manpower can easily save the business time and allow them to face other core areas of the business.
4. Business Solution Support
No matter the business solution your new business wants, it is necessary to make use of a PEO provider that can give adequate support when needed. And this is because, considering the company is new or relatively new in the country, there are specific aspects of the business that would require people with expertise in such fields to help.
With a PEO provider that has Business solution support as part of its qualities, it makes all the work easier on the company as you are assured of a better service.
5. Flexibility
For a new business in seemingly new terrain, a PEO service provider should be flexible enough to adapt to the needs of the company. With such flexibility, necessary changes can be made at a faster pace when needed.
The flexibility offered by the PEO provider can allow for the business to handle any other core business feature they are confident of having the capability to manage, therefore allowing the company also to learn ways of transiting smoothly to the new environment.
6. Strong Reputation
A strong reputation is not negotiable when using the services of a PEO provider because their brand equity would impact positively on your business. This removes all doubt as you are confident in getting quality service from such a reputable provider.
Moreso, established relationships that the PEO services provider might have had overtime can be used to your organisations’ advantage and allow your business to scale faster in the new geographical location.
7. Technological Tool(s)
Your PEO service provider should have access to a technology that can help you manage employees, and expand their ability to perform tasks productively, and enable you to track the same for achieving set goals faster.
Knowing that data is king, it is crucial for any PEO service to ensure that they have the right mix of technological tools that would provide data-backed insights about employees, and also ensure the proper training and development for the staff.
With this, it makes the company enjoy a seamless flow of operation and improves their decision-making capabilities.
8. Cost Options
Deriving optimal value from a PEO provider is essential for a new business hoping to establish in unknown terrain, but so also is getting a competitive market pricing for the services. A standard PEO provider ideally has cost options whereby the client can choose whichever option works best with the proposed budget. These options can contain a varied choice of services but also be customisable to suit your organisation’s need and budget.
For a new business, it is essential to find ways of getting the best service at the best price. This is why PEO providers ensure they do not operate on a one size fits all, but rather, they are always ready to adjust to fit.
9. Risk Management
For PEO providers that have segmented service packages where different organisations can request for tailored services from the PEO provider, sharing some risks with the business, risks such as employee firing, dispute or any other hazard related issues the new company may encounter, maybe vital as this shows the extra mile the PEO provider is willing to go to ensure the organisation’s smooth operation and success.
This would avail the business with much more value and allow them to enjoy benefits from both ends while lowering their compliance risk at the same time.
When looking out for a PEO service provider, the nine critical qualities listed above are highly important, and you should ensure the values and goals of the PEO provider works perfectly well for your organisational values and goals. When you do this, it makes the business transaction between your company and the PEO provider effortless as you both know what is needed and are ready to work to achieve a mutual goal.
Expanading business across Africa is not always an easy process. However, we are here to help you overcome all the challenges that Africa market-entry and expansion may pose. With vast experience, technology, the right people and expertise in offering PEO services to companies, you are in great hands at Workforce Africa.
Schedule your free consultation with us here. Looking forward to helping you succeed.