43% of Small Business Owners Feel They Wear Too Many Hats

By Jeanette Coleman, SPHR & SHRM-SCP on Feb 27, 2017
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43% of Small Business Owners Feel They Wear Too Many HatsRunning a small business is truly a labor of love.

Entrepreneurs start businesses with a passion for their art or craft, or they had a great new idea that was going to change the world. Nothing is better than getting up in the morning excited about pursuing your passion.

Then the reality of running the business soon sets in.

Suddenly the owner is the payroll administrator, compliance officer, safety monitor, recruiter, benefits decision maker, and so much more.  Unfortunately, all of these tasks need to be done, leaving precious little time for the passion that started the business.  43% of small business owners feel that having to wear so many hats is the most difficult part of running their business. *

What’s even more challenging is that these subject areas may not be in the owner’s fields of expertise.  The unsuspecting boss is now forced to scramble to learn how to get it done – hoping there are no mistakes – and learning along the way.

What to look for when searching for a PEO

And it’s a high-stakes learning curve. The penalty for ignorance or errors can be hefty fines and penalties from the IRS, OSHA, the EEOC or others. Yikes!

The good news is that there is help – expert help – to tackle these responsibilities and give you back time to pursue your passion.

Eight Reasons to Consider a PEO

  1. Affordable Benefits - PEOs leverage the buying power of many client-businesses to achieve better rates and greater plan selection.
  2. Budget-Friendly Retirement Plans - PEOs support businesses with easy to administer, afforadable retirement plans.
  3. Benefit Plan Management - PEOs tackle the paperwork and compliance issues of benefits for small businesses.
  4. Full Service HR Expertise - A PEO gets to know you, your business, and your needs.  PEOs are your go-to source for all HR questions.
  5. Payroll Partner - Time-consuming, tedious, and error-prone payroll processing duties go away when you partner with a PEO.
  6. Compliance Peace of Mind - PEOs take HR compliance to state and federal laws very seriously.  They monitor the myriad of changes from state and federal agencies, so you don't have to.
  7. Pro-Active Safety Support - Safety first.  PEOs provide onsite, customized safety consultation providing OSHA expertise and general best practices from years of experience.
  8. Workers' Compensation Coverage and Support - Before, during, and after the workers' compensation claim, your PEO will be your expert guide to navigate the process.

*Constant Contact Small Business Owner Survey 2015

Editorial Note: Updated 5/2/2019

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