As a business owner, you might find yourself somewhat overwhelmed by the growing pile of HR tasks and payroll documents in your inbox (whether physical or digital). Combine this burden with needing to stay on top of compliance issues and you might come to the conclusion that you need help. Fortunately, you can outsource most of these tasks to a PEO to be able to focus on other issues.
Two of the most popular services on the market are Insperity and Paychex PEO. What are they about and how do they compare to each other? Please continue reading below to find out more:
A Houston, Texas based business with over 100,000 clients, Insperity is a long-established PEO company that generally works to make sure that your business is working as effectively as possible while also providing excellent benefits. It’s currently doubling down on its drive for workplace optimization, making it a great fit for many types of businesses which live or die based on their productivity stats.
Insperity has also been expanding in recent years, making it a strong option to bring your business into the next stage of its growth.
- Time management and performance tracking tools that are extremely difficult to beat.
- Top-tier retirement packages and 401(k) benefits to help your business retain talent.
- An extremely large library of training programs and resources for your employees to improve themselves with.
- Information collection tools that allow you to make better business and personnel decisions.
- Attentive and experienced consultants that will work with you and your business.
- An intuitive and easy-to use employee self service platform.
- A five-employee minimum to use Insperity’s services.
- Previous clients have stated that communication can be unclear about services.
- Many clients and previous clients have complained about Insperity’s often confusing payment and fee structures.
- Health care options that are outshined by most competitors.
To learn even more about Insperity, you can read our full review here.
Paychex PEO Overview
Paychex, above all else, dwarfs nearly any competitor in the industry. The company manages the payroll of one out of every twelve American private sector employees, and Paychex itself employs more than 12,000 employees in order to manage all its services. Due to this, Paychex can offer such a wide variety of services that your head can get lost in them, and it only continues to add services each year in an attempt to stay ahead of competitors.
While it might not be for every business, Paychex certainly has the resources to help you with whatever you need.
- Streamlined, efficient service and payroll processing, with clear and effective methods.
- Excellent retirement planning and 401(k) services for your employees.
- Great management tools, especially for medium to large businesses.
- Clear and itemized pricing for its services.
- Expert help and professionalism regarding every service offered.
- Unique services such as business loans and special information-gathering tools.
- A five-employee minimum for using Paychex PEO’s services.
- A very large company which will require more time to adapt to new trends.
- Compared to many other services, Paychex can be quite expensive.
- While all services are fantastic, we found Paychex PEO to not be the very best in most categories. Those with a singular priority will probably find a better option.
To learn even more about Paychex PEO, you can read our full review here.
Insperity is the leaner and more focused of the service providers, working to make sure your business runs smoothly and that you’re getting the most out of your employees. In that regard, Insperity is clearly the better choice. You will also be impressed by its intuitive self-service platform, making it a great choice for businesses looking for a simpler and easier to use solution.
Paychex PEO, on the other hand, is defined by its size and the range of services it offers. While it would be impossible to go into detail about every one, suffice it to say that Paychex offers everything you could need, for a premium price. If you need that kind of coverage, you will want to lean towards it. You can also generally expect clearer and more forthright communication from Paychex, if that is a major concern for your business.
Instead of recommending one PEO to every business, we understand that your needs might be unique. Due to this, we recommend reviewing the below points and coming to your own conclusion.
Your business should work with Insperity if:
- You are looking for a leaner and more adaptive PEO service.
- Your main focus is improving efficiency and productivity.
- You are looking for a wealth of training options.
- You would like to use the more intuitive self-service programs and platforms.
Your business should work with Paychex PEO if:
- You want access to every service you can think of.
- You would like to work with the larger, more established company.
- You value clear communication and forthright pricing.
- You have a medium or large business that needs support.
While both services have merits and will likely provide you great basic service, the best fit will not be an easy decision to make. We hope that the above information helps inform your choice and allows your business to take the next step to success.
Have you worked with either service provider before? Have any thoughts? Please leave a comment below and share any stories you might have with us.