HR Advisors

The importance of having trusted HR advisors

What is the most important ingredient to business survival in a crisis? I believe the answer is pretty simple. It is all about who you depend on for advice.

When I have a business issue, I turn to the advisors on my management team, my peer group and depending on the issue, my trusted business partners—my accountant, attorney, banker, IT or marketing firm. What’s your approach?

Throughout the pandemic, some small businesses have attempted to find answers on their own. Personally, I can’t imagine navigating the shifting attitudes, norms, regulations and opportunities without assistance from experts. There was too much noise in the world, too many emotions running high and too much at stake to make rational decisions without the insights of those I know have my best interests at heart.

The National Association of PEOs has been delving into the success and failure of small businesses throughout the pandemic. It’s hardly a surprise that research by the industry’s association found that small businesses with PEO partners (trusted HR advisors) fared better than their counterparts. What you might find surprising is the gap between small businesses with and without a PEO.

In their own words

Of course, the numbers are compelling but let’s face it, they only tell half the story. They can’t possibly capture the multitude of issues, the daily struggles and the emotions of business owners who fought to keep their operations intact, their employees on the job and their doors open.

You can see and hear how nine small business owners made it through the pandemic in this 3-minute video.

The one thing these successful companies have in common: trusted HR advisors

They are folks like Robin Clendening, CFO of Music for All. “Our PEO has been instrumental in ensuring that during this pandemic, our company stayed alive, and we have the funding we need to move forward and reopen,” she shared. Then there’s Bradd O’Brien, President of Howl at the Moon who noted, “(We had) termination, rehiring, termination and rehiring of all of our employees due to the COVID-19 pandemic. (Yet) we were able to preserve the company culture and the loyalty with all of our employees.

The numbers are telling

working with PEO advisors like NEMR Total HR

NAPEO’s new research looked at factors such as whether operations have returned to a normal level, employment growth and PPP loan forgiveness. The facts show the strength of working with PEO advisors like NEMR Total HR.

Compared with other small business, from early 2020 through July 2021, PEO clients:

  • Are 82 percent more likely to have business operations back to normal (or better)
  • Have had employment grow by 6 percent since early 2020 compared to a 1 percent decline for comparable small businesses
  • Have a rate of employment growth over the last 6 months that is 81 percent higher
  • Are 18 percent more likely to have had their 2020 PPP loans forgiven
  • Are 71 percent more likely to have received PPP loans in 2021
  • Are 58 percent less likely to have permanently closed

If you’re like most employers these days, you are experiencing pressing HR concerns like vaccination or work from home policies, employee retention and keeping up with new regulations. Perhaps you’ve been going it alone or you are not sure if you’re working with the right business advisors. NEMR Total HR could be the answer. Chat Live with us to learn more or Email Us.