...Overall, we found that, as of July 2021, PEO clients are doing better in each of the three categories, as discussed in additional detail in the sections below. As a result, PEO clients are also in a stronger position for future long-term success than other comparable small businesses.

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The extent to which PEO clients have been able to stay open for business and avoid permanently closing is a key summary measure of the benefits of being a PEO client.

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PEO clients are also less likely to have experienced an overall negative effect on their businesses due to the pandemic than other comparable small businesses...

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Are you worried about the survival of your small business? It’s a reasonable concern. By the end of 2020, the National Association of Professional Employer Organizatons (NAPEO) reported that 75% of small businesses saw significant impact due to COVID-19. Business owners have struggled with tough decisions about how to meet payroll, whether they can afford to keep their employees on staff, and whether they can even keep their doors open. On top of that, they have faced a tidal wave of new regulations, leave policies, and health and safety decisions.

But the news isn’t all bad. One of the most impactful factors for many small businesses owners when it comes to business outcomes over the past year was the decision to partner with a PEO. According to the NAPEO report, PEO clients were:

  •   72% more likely to receive a PPP loan in round one than other small businesses

  •   91% less likely to still be temporarily closed as of December 2020

  •   60% less likely to have permanently closed

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Whether it is a pandemic, a natural disaster or a violent act, a crisis can put an operationally sound company in trouble without any warning.

That is why it is important to appreciate the immense value of a professional employers’ organization (PEO) during a crisis.

What is the value of a PEO in a crisis?

The COVID-19 pandemic created a very uncertain business environment. In the past, we have seen businesses experience severe disruption following the 9/11 attacks, the global financial crisis, and several major hurricanes and wildfires.

Crises can occur at any time and business leaders often have to make important decisions in a short period of time. Reliable business advisors and efficient internal processes are crucial at these times.

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HR pros are already running at full speed trying to keep up with the seismic changes brought on by the pandemic.

You’re charged with taking the concrete steps needed to realize employers’ increased focus on employee wellbeing while also maintaining company culture, collaboration and employee loyalty in a remote work environment.

And HR will be at the front lines in dealing with employment law-related compliance next year, including enforcing COVID-19 safety rules, crafting policies that support working parents, handling changes to the minimum wage and launching or expanding measures to address diversity, equity and inclusion.

Those are among the issues businesses say they are struggling to deal with now.

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