The PEO Life Cycle
This month’s feature examines the PEO life cycle, and there’s no better way to do this than letting a variety of PEOs in different phases of their life cycles tell their stories.
We begin with three different start-ups:
- One started by someone who spent his whole career in PEO, started one successful PEO, and then combined his corporate training and industry experience into a new model and new enterprise;
- A start-up created by the CEO of a charter school management firm who considered hiring a PEO, but started his own PEO instead; and
- A small family PEO started by someone with a background in insurance, investment strategies, and benefits who spent a decade in a family-owned PEO.
Now, on to the growth phase. We hear from:
- A 10-year-old PEO whose strategy is following best practices, benchmarking, learning from growing pains, and delivering high value and transparency to achieve profitable growth;
- A fairly young PEO that is gearing up for growth by building up its operation and developing services, maintaining company culture through selective hiring, and investing in a digital marketing platform; and
- Another PEO with over a decade in the industry, which started up slowly and deliberately, planning with goals in mind, realizing that the only time it did not experience steady and significant growth was when it was not focused on re-investing and focusing on the sales operation.
This next one is a little different. Here we have a PEO with almost 20 years under its belt whose owners wanted to retire and bring in new management. This is the story about how the new exec approached and achieved the company’s transformation.
This feature would not be complete without taking a look at those who have been through the complete PEO life cycle, and then started all over again:
- A PEO that bootstrapped in the mid-1990s, made it through the “dot-com” crash, but decided to sell after almost 20 years in business, only to start a new PEO with capital attracted by the owner’s two decades of PEO experience;
- The never-say-never story of two PEO partners who sold their company in 1997, lived their lives, and then re-partnered in 2011 in a brand-new PEO; and
- An industry icon who built one of the most successful PEOs in the industry and carried it through its entire life cycle, then built a new PEO from the ground up with a time-tested concept.