In today’s climate, private equity has resources to invest and experienced managers to make assets profitable. Businesses are forming and are then growing rapidly – organically and through additional acquisitions. Executives and business developers need an experienced partner to establish an efficient infrastructure for the start-up business, while they focus their expertise on growing the business and adding value.
For some new companies, the best initial solution is the professional employer organizations (PEO). In this type of arrangement, the company is a co-employer with the PEO. The PEO handles all HR, payroll and benefits functions, leaving the company to manage hiring and day-to-day supervision. PEOs offer a wide variety of services, but also have limitations. Before deciding that a PEO arrangement is the answer for your firm or choosing a provider, you should conduct a thorough operations review of your short- and long-term staffing plans, including geographic locations and job functions. You also need to understand the nuances of each PEO vendor, their capabilities and the terms of services offered. The Ascende HR consulting team is experienced in working with new companies to understand objectives, to vet and negotiate with PEO vendors, and to establish the best arrangement for our client.
Other companies start with rapid growth goals. They know that they will outgrow a PEO model quickly or they will operate in environments where a PEO is not necessarily a good fit. These companies need a partner to help quickly and effectively establish HR systems (e.g., payroll), policies and benefit plans that are available for small groups but are scalable to accommodate a larger, more complex workforce. Ascende teams support this approach through a wide range of services that varies for each situation – from establishing benefit plans or reviewing and implementing payroll systems to providing short-term, hands-on HR administration while the client’s team is training on the new systems and functions.
The right human capital consulting partner gives the executive team confidence that employees are taken care of, so it can focus on growing and managing the business.