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  • Are you a business owner considering selling your business? Selling a business can be daunting, especially when it comes to the administrative burden and HR management. However, with the right support in place, such as a partnership with a professional employer organization (PEO), the process can be streamlined, allowing potential buyers to see the true value of your business without getting bogged down by administrative complexities.

    Understanding A PEO

    Let’s start with the basics—understanding what a PEO is. A PEO is a strategic partner who helps businesses navigate the complexities of human resources and employment management. Think of a PEO as your one-stop shop for HR solutions. By teaming up with a PEO, businesses can outsource essential HR tasks such as payroll processing, benefits administration, and compliance management. Beyond administrative support, PEOs offer expertise, resources, and guidance to help businesses thrive.

    A PEO provides business owners access to a team of HR professionals who understand the nuances of employment regulations and industry best practices. In layman’s terms, a PEO allows business owners to focus on what they do best – growing their bottom line – while leaving the HR heavy lifting to the experts.

    Diving Deeper Into The Value Of A PEO

    When you sell your business, utilizing a PEO adds more value than you think. So, consider this analogy for clarity: selling your business that utilizes a PEO is like selling a furnished house. Just as a furnished house presents a more attractive and convenient option for potential buyers, a company with a PEO partnership offers a streamlined and well-managed operation ready for the new owner to step in and start generating revenue without the hassle of handling administrative tasks.

    Streamlined operations

    A business that partners with a PEO experiences streamlined operations, much like a furnished house saves a buyer the trouble of buying and arranging furniture. The administrative and HR functions are well-organized, making the business more appealing to potential buyers due to its operational efficiency and ease of takeover.

    Administrative simplicity

    Just as a furnished house eliminates the need to handle multiple vendors for furniture, a business with a PEO in place reduces the need for the buyer to coordinate and understand various administrative vendors. A PEO handles HR, payroll, benefits administration, and compliance, all under one roof, simplifying the administrative burden for the seller and the potential buyer.

    Financial efficiency

    A furnished house often commands a higher price due to the added convenience it offers. Similarly, a business with a PEO is more attractive to buyers due to the cost savings and operational efficiency it provides. The buyer can see the potential for financial efficiency and reduced operational costs, making the business a more appealing investment opportunity.

    The Benefits Of A PEO When Selling Your Business

    A PEO brings professional HR expertise to the table, ensuring that the HR aspect of a business is well-managed and compliant with regulations. This expertise adds significant value to a company, making it an appealing prospect for potential buyers looking for a well-structured and compliant acquisition.

    Risk mitigation

    By partnering with a PEO, business owners can mitigate risk and ensure compliance with employment laws and regulations. This reduces the potential liabilities for the buyer, making the acquisition more attractive and less risky.

    Focus on core business

    With a PEO handling administrative tasks, the business owner can focus on the core aspects of the business, such as growth strategies, customer relationships, and product development. This hands-off approach to administrative tasks makes the business more appealing to potential buyers looking for a well-organized and efficient operation that allows them to focus on business growth.

    Cost savings

    A PEO can help businesses save on administrative costs by streamlining processes and providing access to cost-effective benefits packages. This ultimately increases the business’s value and makes it a more appealing investment opportunity for potential buyers looking for a financially efficient acquisition.

    Meet GMS

    If you’re considering selling your business, the benefits of partnering with a PEO are unmatched. Let us welcome you to Group Management Services (GMS), a certified PEO (CPEO), who can help you during this time of change. At GMS, we understand that selling your business comes with challenges; however, don’t let that be the stopping factor. By simplifying the process, we reduce the burden on business owners. Our experts are here every step of the way. Look no further and contact our team today to get your journey started.

  • Employee retention is a critical factor in the success of any organization. It not only reduces recruitment costs but also boosts productivity and employee morale. Human resources (HR) is pivotal in crafting and implementing employee retention strategies. In this blog, we’ll explore how HR can give your company’s employee retention strategy a significant boost and then discuss how partnering with a professional employer organization (PEO) can be a game-changer for small business owners.

    The Role Of HR In Employee Retention

    1. Talent acquisition and onboarding: HR professionals are responsible for attracting top talent and ensuring a smooth onboarding process. By finding the right people for your organization and making their transition as seamless as possible, HR sets the stage for a positive employee experience from day one.
    2. Creating a positive work environment: HR plays a crucial role in establishing a healthy work culture and fostering a positive environment. They can implement initiatives such as wellness programs, diversity and inclusion efforts, and employee engagement activities, which enhance job satisfaction and retention.
    3. Career development and training: HR can work with employees to identify their career goals and provide training opportunities. Investing in employee growth and development not only improves their skillset but also shows your commitment to their success, making them more likely to stay with the company.
    4. Communication and conflict resolution: HR is the mediator between employees and management, ensuring that concerns and grievances are addressed promptly. Effective communication and conflict resolution can prevent workplace issues from escalating and potentially leading to resignations.
    5. Performance management: HR professionals set clear performance expectations and conduct regular evaluations. This keeps employees informed about their progress and provides opportunities for improvement, reducing dissatisfaction that might lead to turnover.

    How HR Boosts Employee Retention

    Now that we’ve established the importance of HR in employee retention, let’s get into how HR practices can make a difference in this area:

    1. Employee engagement: HR can gauge employee satisfaction through surveys, feedback sessions, and one-on-one meetings. By identifying and addressing concerns early, they can proactively prevent turnover.
    2. Succession planning: HR can create a roadmap for employee growth within the organization, ensuring that employees see a future for themselves and are less likely to leave in search of new opportunities.
    3. Work-life balance: HR can implement flexible work arrangements, promote mental health programs, and provide support for work-life balance, which all contribute to employee satisfaction and retention.
    4. Compensation and benefits: HR can develop competitive compensation packages and benefits programs that attract and retain top talent. This includes health insurance, retirement plans, and performance-based incentives.
    5. Recognition and rewards: HR can establish recognition programs to acknowledge employee achievements, boosting morale and loyalty.

    How A PEO Can Help Small Business Owners

    Small business owners often face unique challenges when it comes to HR and employee retention. This is where a PEO can be a game-changer. A PEO is a co-employment arrangement that allows small businesses to outsource their HR functions. Here’s how it can help:

    1. Expertise: PEOs have experienced HR professionals who can provide expert guidance and support on employee retention strategies tailored to your business’s unique needs.
    2. Cost-efficiency: PEOs can often provide access to comprehensive benefits packages at a lower cost due to economies of scale, making it easier for small businesses to compete with larger companies.
    3. Compliance: PEOs can help small businesses navigate the complex landscape of employment laws and regulations, reducing the risk of non-compliance and associated penalties.
    4. Time savings: Outsourcing HR tasks to a PEO frees up your time and resources to focus on growing your business rather than handling administrative HR functions.

    Work Smarter, Not Harder

    HR is a cornerstone in enhancing employee retention, and a dedicated HR department or professional can help your company craft and implement strategies that foster a culture of engagement, growth, and satisfaction. For small business owners, partnering with a PEO like GMS can be a smart move to access expert HR support, ensure compliance, and compete with larger companies in the race to retain top talent. By combining the power of HR practices and the support of a PEO, you can supercharge your employee retention strategy and achieve long-term business success. Work smarter, not harder, and contact us today.

  • For the most part, all industries across the world have experienced disturbances within their business operations since the COVID-19 pandemic. During the pandemic, businesses had to scale back operations because of the decrease in demand, or they were forced to furlough or lay off employees. However, plumbing and heating, ventilation, and air conditioning (HVAC) companies were some of the few that experienced a spike during the pandemic because their demand increased. Even with the increase in demand for HVAC services, they still face challenges, including a labor shortage and an aging workforce.

    Labor Shortage

    Similar to most companies, many HVAC companies are struggling to attract employees. However, this has been a challenge before the COVID-19 pandemic. Every type of business is looking to retain employees while workers are quitting their jobs at record levels. Low-interest rates, government stimulus checks, and a greater emphasis on home improvement (as many individuals were forced to stay home) drove new business for HVAC companies. The increased demand has put pressure on the existing workforce, leading to a shortage of skilled technicians. In addition, this industry is facing challenges in attracting younger workers, as many students and recent graduates are unaware of career opportunities in the blue-collar market, such as HVAC or plumbing.

    An Aging Workforce

    The aging workforce has been challenging for HVAC and plumbing contractors for almost a decade. However, the pandemic and Great Resignation heightened these challenges. Many companies’ experienced technicians are retiring, and there aren’t enough younger workers entering the industry to replace them. The Air Conditioning Contractors of America estimates that the average age of an HVAC worker is 55. Experts estimate that the shortfall of qualified HVAC workers is more than 115,000 individuals.

    Have You Considered Outsourcing Your HR Functions To A PEO?

    The economic downturn has made it challenging for HVAC and plumbing companies to offer competitive salaries, alluring benefits packages, and attract and retain top employees. More and more companies have looked to outsource these administrative tasks they don’t have the time or expertise to manage effectively. Have you considered outsourcing your HR functions to a professional employer organization (PEO)?

    Let’s start by understanding what a PEO is. A PEO is an organization that enters into a joint-employment relationship with an employer by co-employing the clients’ workforce, allowing the PEO to share and manage many employee-related responsibilities and liabilities.

    While a PEO can help you combat the labor shortage and aging workforce you may be faced with, a PEO can do much more than that. Everything is under one roof, from tracking employee performance to creating a fleet management program to an online payroll service. You can finally focus on your core competencies while you leave the HR responsibilities to professionals who specialize in that area. This can improve efficiency and accuracy in HR processes such as recruitment, benefits, and compliance with labor laws. In addition, you also gain access to a wider pool of HR talent and expertise which can result in better decision-making and overall HR strategy.

    Has an employee filed a claim because of an injury on the job? 

    A PEO takes a proactive approach to workplace safety by providing you with the following:

    • Onsite consulting
    • Jobsite inspections
    • Accident and injury investigations
    • Training
    • And so much more

    In addition, if you struggle to stay ahead of the risks associated with workers’ compensation and workplace hazards, a PEO can help protect your business. You now have a partner that enables you to take a proactive approach to address immediate issues and prevent potential problems in the future.

    Are you struggling to attract and retain top talent? 

    You’re not alone if you’re struggling to attract and retain top talent. Offering a quality benefits package is one of the best ways to retain and attract top talent. However, offering a quality benefits program is becoming increasingly expensive and takes too much time. A PEO works with business owners to help them decide which benefits make the most sense for their business operations, employees, and bottom line. In a time when your workforce is beginning to retire, it’s essential that you take every step possible to ensure you are attracting the next generation of employees. However, it’s also vital that you take proactive steps to retain your talent. Offering a competitive benefits program can help you stand out from your competition and help you succeed during these unprecedented times.

    Do you spend countless hours doing payroll each payroll period?

    As an HVAC or plumbing company owner, you don’t have the time to manage the payroll process anymore, especially with your demand at an all-time high. Your partnership with a PEO saves you time and gives you peace of mind. Think about the sleep you could get if your payroll is all managed online. Payroll software streamlines the payroll process, creating less paperwork and giving users access from anywhere with an internet connection.

    Are you having trouble hiring and recruiting employees? 

    Recruiting, training, and retaining employees has never been more challenging for small and mid-sized businesses in a tightening labor market. Luckily, when you partner with a PEO, this heavyweight is carried off your shoulders. You now have access to the tools and resources necessary to take on these responsibilities while improving your overall recruiting, hiring, and training efforts. This partnership can strengthen your business and let you focus on other responsibilities. In a market where your services are in high demand, it’s a great time to partner with a PEO to find you the talent your business wants and needs to thrive.

    Consider Group Management Services (GMS)

    From creating a competitive benefits package and streamlining your payroll process to creating safety programs to ensure you have a safe work environment to hiring and recruiting top talent, Group Management Services (GMS) does it all. We make employee management simpler, safer, and stronger. We save you time and money while you retain full control over your employees and regain the opportunity to focus on growing your business.

    Andrew Szczesniak, Senior Sales Strategist, expressed, “GMS helps companies in the plumbing and HVAC industries by reducing their administrative costs regarding workers’ compensation and health care. By lowering costs in those areas, businesses are now more competitive in bidding jobs and can attract and, as importantly, retain their existing employees.”

    Leave the HR details to us. Contact us today so we can help you thrive in today’s economy.