NAPEO
August 2023
THIS MONTH'S FOCUS: Workforce
THE QUESTCO STORY: TREASURE WHAT IS THERE, BUILD SOMETHING BRIGHTER
A few years ago, Questco served primarily blue-collar businesses operating largely in the state of Texas. Fast forward to today and Questco has service centers in six states, internal employees in 26, and worksite employees (WSEs) in all 50 states. The company’s client base has expanded too; Questco now serves clients across a diverse base of industries, with an emphasis on fast-growing, sophisticated businesses.
BY Chris Chaney
August 2023CONTENTS
FEATURED
EMPLOYEE BURNOUT: STRESSORS, REACTIONS, AND SOLUTIONS
Some think that owning a company means it magically runs by itself. I enjoy and appreciate being an owner and there are many wonderful aspects, but there are also times when being an owner means sleepless nights, long days, and high stress. There are times that the risk versus reward tips toward the “risk” side (IFKYK). I have felt that scale tipping more this past year, even more than during the 2008 economic crisis and initial COVID shutdowns. Employees, across the country and across all industries, are burned out and have changed workplace behavior norms.
BY Celeste Johnson, MBA, PHR
August 2023
THE IMPORTANT DYNAMICS OF OFFICE CULTURE
Office culture encompasses the values, beliefs, attitudes, and behaviors that shape the working environment. A positive and inclusive office culture fosters collaboration, encourages creativity, and drives employee engagement. When employees feel valued, supported, and connected, they are more likely to unleash their full potential, resulting in higher productivity and increased job satisfaction.
BY Heidi Corrigan
August 2023
THE TRUE COST OF EMPLOYEE TURNOVER: A COMPREHENSIVE ANALYSIS
Employee turnover poses significant challenges to PEOs, affecting their productivity, financial stability, and overall success. In this article, we will delve into the various costs associated with employee turnover, providing a detailed analysis of the expenses involved and the detrimental effects on organizational performance.
BY Mark Sinatra
August 2023
UNDERSTANDING THE SHIFTING LANDSCAPE OF TALENT ACQUISITION AND RETENTION
PEO leaders are tasked with guiding clients through their most pressing business operations challenges, and that includes employer talent acquisition and retention, especially in our current climate. These challenges are top of mind for most businesses today as the job landscape has changed drastically and faced significant ups and downs over the last few years. PEOs also have to stay on top of these shifts for their own client retention considerations.
BY Heather Keefer Saulsbury
August 2023
HOW PEOS ARE HELPING SMBS MEET MARKET DISRUPTORS HEAD ON
The modern world is driven by convenience and customization, SMBs included. Digitization, remote-friendly roles, and a generational shift in the workforce all impact today’s employee experience. When this experience is lacking, it can be costly to companies in more ways than one.
BY David Pearson
August 2023
UPSKILLING: A WIN-WIN BUSINESS PROPOSITION
Upskilling is generally accepted to mean an expansion of, or adding to, an employee’s skillset. Upskilling differs from the training provided to an employee to enable him or her to perform the specific duties of the position he or she fills. On the contrary, upskilling takes the employee beyond the boundaries of the existing job description.
BY Ree Harper
August 2023TRACKS
Over the past few months, a day has not gone by without receiving an email, news alert, article highlight thread, or a discussion surrounding AI, notably ChatGPT/Bing/Bard, and the impact on our future. It is a topic that seems to have come out of nowhere. Yet, it has been around for a while, waiting in the wings to be unleashed into the public arena.
BY Kristen J. Appleman
August 2023SECRETS OF PROTECTING YOUR MLR AND MARGIN: CONFESSIONS OF A GROUP INSURANCE BROKER
In a previous article, I encouraged PEO operators to take another look at group insurance brokers and even see some PEO brokers as channel partners. In this article I’m going to share with you another secret: How to protect yourself from us brokers. Remember, if you manage this channel correctly, brokers will be your lowest cost of new client acquisition, create longer retention, and create an endless and consistent flow of beautiful new deals. However, if handled poorly, your master plan medical loss ratios (MLR) could be very RED.
BY Eric Raymond
August 2023THE DIGITAL IMPERATIVE: ADAPT OR BECOME OBSOLETE
Experts have written articles for decades urging companies to update their business with cutting-edge technologies. By now, you may have been lulled to sleep by such headlines, content with your current processes and an “if it’s not broke” mindset. You may even be convinced that recent technological advancements like artificial intelligence (AI) are just a fad or something to ignore. However, given the exponential rate at which new cutting-edge technology is transforming every industry – including the PEO industry – you and your business no longer have the luxury of complacency.
BY Ryan R. Mossman
August 2023My friend Pete Pantuso has been CEO of the American Bus Association for more than two decades. One day at lunch, I asked him how he kept it fresh. His answer was as straightforward as it was simple: “New blood,” he said, “hiring new people.” Those new people brought with them new ideas and perspectives. We discussed it further. It’s a balance. No organization wants rampant turnover and churn.
BY Pat Cleary
August 2023THE TOP 10 REASONS YOUR PEO AND YOUR CLIENTS NEED AN AI POLICY
You might think your PEO and most of your customers don’t need a workplace policy covering artificial intelligence (AI). After all, you and your customers might not have an internal AI product for workers to use, and not all your customers are in the tech space. But employees across all industries are intensely AI-curious and are wondering whether ChatGPT, Google’s Bard, and other similar platforms can help them at work. With this inevitable use comes some serious legal risks for your PEO and your customers. An AI policy can reduce some of the risk. What are the top 10 reasons why you and your customers need an AI policy?
BY John Polson and Rich Meneghello
August 2023HOW INSPERITY RETAINS EMPLOYEES BY OFFERING SUPPORT TO SHOULDER CAREGIVING BURDENS
In the last few years, more than 2 million women have left the workforce, taking valuable skills and their expertise with them. The balancing act many employees, especially women, face in managing their caregiving responsibilities and jobs can be unsustainable at times, and it can feel easier to choose one or the other. Unfortunately, this is detrimental to these individuals and their families who rely on that income, and it is a significant loss to employers and the economy.
BY Chris Sanders and Joy Awe
August 2023NAPEO ADVOCACY DAY IS A HOME RUN
There's an energy around the PEO industry this year that's palpable. Nowhere is that more true than in Washington DC, where we are starting to make our mark as a strong contributor to the vitality and success of the backbone of the economy: small and mid-size businesses. We've got a great story to tell. Help us tell it.
BY THOM STOHLER
August 2023NAVIGATING THE CHANGING LANDSCAPE OF EMPLOYEE COMPENSATION AND BENEFITS
Rewards and benefits are a core part of the HR and People functions at any organization. As the Senior Director of People Experience at Oyster HR, a global employment platform with employees in 70+ countries, my team and I are responsible for the experience of our employees from the day they sign their offer letter to their last day with the company. That includes managing performance, progression, and total rewards.
BY MATT MCFARLANE
August 2023ASK THE EXPERT: A Q&A WITH PAUL NASH OF BEAZLEY
Paul Nash is an employment practices liability (EPL) underwriter with Beazley. He is the EPL and Safeguard product leader for both the UK and US teams and was instrumental in developing the first SAM/SML policy issued by Beazley in 2006. He has more than 30 years of experience in the insurance. He recently spoke with Paul Hughes of Libertate Insurance about the state of the EPLI market, how he has seen the PEO industry evolve and more. PEO Insider captured their conversation.
BY PAUL HUGESBY
August 2023