In times of economic uncertainty, business owners face an increasing number of tough decisions such as budget cuts and staff reductions. There is no better time to partner with a Professional Employer Organization (PEO), such as Lever1, as an effective strategy to sustain profitability. As a business owner, your initial reaction may be to make cuts and bring services back in house; however, this is not an efficient solution. Now more than ever, business owners must focus on driving topline income while strategically outsourcing several bottom-line expenses. This innovative approach allows your business to build momentum to move forward, rather than depleting energy and resources focusing on where to make cuts.

You can’t cut your way to profitability

Focus on Core Business

Lever1 helps reduce the number of tasks that businesses are responsible for, giving them more time to focus on growing and sustaining your business. Companies that partner with a PEO are 50% less likely to go out of business, which is essential during times of economic uncertainty. Hiring internal staff to handle the services that Lever1 provides takes focus, time, and resources away from growing businesses. This is especially valuable when resources are limited, and businesses must remain agile.

Cost Savings

Outsourcing allows business owners to access a variety of high-level skilled employees at a fraction of the cost of hiring one internal staff member. From payroll questions, tax issues, labor disputes and new hire paperwork, no one person can provide that same level of expertise. In addition, Lever1’s proprietary benefit plans provide Clients large group options not feasible on their own.

Scalability

Your fees to use an outsourced solution ebb and flow with your employee count so if business is down, your fees are scalable and adjust with you. It’s easier to fire a vendor when you no longer need them than to lay off internal staff. Outsourcing allows you to pivot if business picks up or takes an additional turn. This flexibility is vital for adapting to market demands without the burden of constant hiring or layoffs.

The Cost of a Misstep

Staying compliant in our current political environment is overwhelming. Employee lawsuits will increase as more employees are out of work. Lever1 offers Employment Practices Liability Insurance coverage for our clients, which many small businesses would not have on their own. Our team’s specialized support and expertise ensures our clients stay in compliance with local and federal regulations.

Overall, Lever1’s PEO can help businesses navigate the complexities of economic uncertainty by offering cost efficiencies, reducing compliance risks, and providing valuable HR expertise, allowing businesses to focus on their growth and stability.