What To Do When Your PEO Merges With Another

When you are selecting a PEO, it can be a painstaking process. So many decisions to make and an overwhelming amount of choices, around 700 to be exact. If you have a PEO, then you know what a big deal it was to come to a decision on which one was the right one for you and your employees. Maybe right away or after a few years, you get a letter in the mail. Your PEO merges with another. What does this mean? You didn’t select that PEO. How will this business decision, made without your knowledge impact your service and benefits? Once your employees get wind of this, they’ll have questions. How will you answer them?   Chances are, going with a PEO felt like a big risk at the time of your contract signing. Co-employment is a scary word to those who are not familiar with it, still as a business owner you wanted to do the right thing by your employees. Now that you are faced with the prospect of working with a new PEO after your PEO merges with another, what can you do to mitigate your risk?

How To Handle When Your PEO Merges With Another

  First of all, mergers and acquisitions happen in business all the time. You hardly even notice when it happens, that is until one impacts how you live or worst yet, interferes with your business.   The PEO industry is no different. When one PEO merges with another, there is usually about a year before customers will even be introduced to any changes that may affect their coverage or level of service, so there is no need to panic. Most mergers and acquisitions happen slowly, in order to minimize customer loss.   There are a few ways you can handle things:   Play The Waiting Game- You can wait it out. There is a great possibility that nothing really major will happen to your agreement. There is always that question of whether or not your rates will go up eventually and there really is no way to tell. You’ll just have to wait it out and see. As far as your level of service or coverage, that is also a mystery until the merger is finalized and a customer strategy shakes out from management.   Find Reviews On The Purchasing Company- A great indication of how your level of service is going to go when your PEO merges with another is to do some research on the acquiring PEO. Seeing what customers past and present think of their services is a great indicator as to how your relationship with them will play out in the long term.   Get Out Of Your Contract And Go With Someone Else- You can always decide to go with another PEO service if you are anxious about the newly formed company or if you don’t like what you are seeing on the review sites about the acquiring PEO. There are plenty of other choices out there and if you have been through the selection process before, you know how many there are.  

Working With A PEO Broker Can Help You When Your PEO Merges With Another

One of the most helpful players in the PEO industry is a PEO broker. These firms know the industry inside and out. A PEO broker like PEO Spectrum doesn’t charge the customer for their service, so you can get some insight into the industry and let them find you a PEO that best matches what you love about the PEO you have.   Their PEO comparison report will make your PEO shopping very easy because it is custom tailored to your needs, not some empty canned report that lists features and benefits. Even when your PEO merges with another, you still have some choice. Let a PEO broker help you navigate the changes and negate the need to lose sleep at night over your PEO.