ThePEOPeople.com is an independent PEO brokerage firm that offers a experts plus a proprietary simple but powerful portal to help companies partner with the right-fit PEO firm. With three decades of experience, ThePEOPeople.com provides objective information about PEOs and helps businesses determine the best PEO to connect with from over 700 available options.
In an interview with the Manage HR magazine, Eric Raymond, CEO and Founder of ThePEOPeople. com, talks about the significant role play in creating a market among PEO firms while helping companies make well-informed decisions while partnering with PEOs.
What were the factors that spurred the conception of ThePEOPeople. com?
Before founding ThePEOPeople.com, I had founded an organization that turned into one of the largest health insurance brokers in the U.S., with over $1 billion premium. After selling the company to a major Venture Capital firm, I was contacted by one of my previous clients, a CFO of medical practice institution, asking me to replace their then existing PEO and go back to an open market plan. He explained that a year before, the medical practice had switched to a PEO who appeared to provide services at an affordable cost, but soon, they realized that the services were not up to the mark. I helped them switch to another PEO and save over $500,000. This collaboration inspired me to start ThePEOPeople.com to help companies find the best-fit PEO, get quotes faster, create understandable and actionable proposals, and ensure successful partnerships.
How have the last couple of years been for ThePEOPeople.com?
As the challenges involved in running a business are now greater than ever, alongside the ever-rising competition for employees, companies are inclining more towards hiring PEOs. With the increasing regulations and guidelines, employers find it difficult to appoint and manage vendors in running the human capital side of their business. They also remain vulnerable to lawsuit charges for providing inadequate health insurance and worker’s compensation costs. To that end, PEOs provide a system fully integrated with HR work, health insurance administration, and compliance systems to manage payroll benefits, workers’ compensation insurance, and lawsuit protection.
We provide a portal where customers can find all PEO packages, allowing them to avail of lower administration fees and medical rates, often the range of 25% less than what it would amount to going to direct representatives. In addition, we eliminate the daunting process of getting quotes and tedious paperwork and help customers compare PEOs by lucidly presenting them with pros and cons of PEOs they are consider to partner with.
ThePEOPeople.com simplifies the process of selecting a PEO and thereby provides quality PEO services for clients. For example, we ensure that a PEO, say, does not have inconsistent renewals, poor software infrastructure, or high internal turnover. Additionally, we provide them with PEO implementation and post-implementation support. To sum it up, ThePEOPeople.com know what questions to ask a PEO, know their truths, and saves a ton of money and a tremendous amount of customers’ time and efforts. The santaclaus of peo – we know whose good and bad.
Can you elaborate on how the pandemic has impacted your market?
Recruiting and retaining the best talents turned out to be very challenging during the pandemic. It compelled employers to expand their reach across the nation to find employees. The needs for better national insurance coverages are increasing as well. Companies are now identifying cracks within their organizations that only a PEO could solve. But finding the best one is hard because the majority of PEOs specialize in specific areas based on industries, locations, and sizes of the organizations. Still, many claim that they do everything better than others, which isn’t true. Every PEO has a different style, software, personality, specialty, which makes it difficult for customers to identify even the top five PEOs to get a bid from. But ThePEOPeople.com makes it all easier. We constantly update our database and leverage the best tools and software available to find competitive PEOs. For instance, recently, we have started using a new industry software called Broker Quota. Typically, employers or HR managers must fill out numerous forms for different PEOs to receive proposals. Often, these proposals come out to be 60 pages long or more, which makes them complicated and impossible to compare with that of other organizations. But the software dramatically distills the comprehensive information into a single and simple form, gets quotes, and compares the benefits and services objectively.
We do not charge any fee upfront because we believe that if we are not producing something great, we do not deserve to be paid
Can you share a success story or two where ThePEOPeople.com helped clients find the right PEO?
We recently collaborated with a public shipping company in California that wanted to switch from a branded PEO to other alternatives because they found the services and software unsatisfactory and the cost to be much higher. ThePEOPeople. com helped them select one that suited their objectives best, which allowed the client to save around 23% of their previous cost. We also had clients who could save 40% on their health insurance through the PEO we helped them find, although is not always the case.
What does the future look like for ThePEOPeople?
We are looking forward to adding newer technologies and talented people to the team to provide better services to our clients and prospects. We do not charge any fee upfront because we believe that if we are not producing something great, we do not deserve to be paid, and we will continue to keep that intact. Because of this outlook, we see people continually coming back to do business with us. We believe in creating a relationship with our customers first. As a result, customers do not face any downside in using a professional and independent PEO broker that does not charge a fee.