5 Reasons Why Gym Owners Choose a PEO for Health Insurance

As the owner of a small to mid-size gym, you likely work tirelessly to achieve your revenue goals while providing customers with a safe environment to meet their fitness goals. A growing number of gym owners are discovering the key role a PEO can play in achieving both of these objectives. Below is a look at PEOs and five key reasons why gym owners choose a PEO for health insurance.

What exactly is a PEO?

Short for Professional Employer Organization, a PEO is a provider of customized HR solutions for small to medium-sized businesses such as gyms. Featured services typically include payroll tasks, 401K activities, benefits administration, and workers' compensation insurance. PEOs may also assist with taxes and regulatory compliance issues.

How can a PEO help gym owners with health insurance?

PEOs offer a variety of benefits that are difficult to ignore. In addition to helping your gym grow, working with a PEO can free up valuable time for you to devote to business development goals. Here are some of the specific ways a PEO can help gym owners with health insurance:

1) Facilitate growth of your gym

"Small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business." - National Association of Professional Employer Organizations (NAPEO)

Revenue growth is a key objective for virtually every gym owner. According to the NAPEO, business owners who work with PEOs tend to grow faster than those who don't. By selecting a reputable PEO, you can give your gym a significant edge over your local competitors.

2) Allow you to focus on your top business goals

Handling payroll, benefits, and insurance activities is time-consuming. For a gym owner who already wears many hats, you may quickly discover that it's a challenge to focus on meeting your business goals if you are constantly trying to handle payroll and insurance issues. By choosing a PEO for health insurance, you will have more time to devote to the following:

• Attaining profit margin goals
• Increasing customer satisfaction
• Procuring cutting-edge equipment
• Development of new fitness programs

3) Reduce operating expenses

Controlling expenses is vital to ensuring that your gym achieves the profit margin goals you established. Working with a PEO eliminates the need to pay hefty salaries to full-time in-house HR staff. Additionally, you don't have to invest money to hire and train staff to handle your payroll, benefits, insurance, and taxes.

Today's top PEOs make it easy for gym owners to apply and receive the highest level of support by remitting one easy payment per month. There are no year-end assessments that catch you off guard and you can enjoy peace of mind knowing your contract rates are guaranteed for a year. Best of all, you can then dedicate the money you save to equipment upgrades, future expansion plans, and marketing initiatives.

4) Boost employee satisfaction and retention

"In a SHRM survey on job satisfaction and engagement, the vast majority (92%) of employees indicated that benefits are important to their overall job satisfaction. Results also showed a relationship between benefits and retention, with 29% of employees citing their overall benefits package as a top reason to look for a position outside of their current organization..." - Society for Human Resource Management (SHRM)

Loyal, dedicated employees can become leading ambassadors for your gym. But happy, loyal employees are not easy to come by. Fortunately, working with a PEO can help you increase employee satisfaction and entice them to stay with your gym. In turn, here are a few ways satisfied employees can help your gym build a positive brand image:

• Post positive employee reviews on sites such as Glassdoor and Indeed
• Promote your gym and featured activities on their social media sites
• Refer friends and family to join your gym or join your workforce

5) Elevate the quality of your benefits package

By working with an accomplished PEO, you and your employees can enjoy the same quality benefits provided to Fortune 500 company employees. For example, you have access to the fastest technology, major medical insurance benefits, and workers' compensation statutory limits of $1,000,000. Additionally, you can boost the efficiency and safety of your gym operations with the guidance you receive from OSHA-certified safety specialists.

Selecting the best PEO for your gym

Clearly, PEOs offer a host of attractive benefits to gym owners. However, not all PEOs are created equal. Some are easy to implement and consistently deliver top-notch support to business owners while other PEOs overpromise but under deliver. As a gym owner, it's up to you to choose a PEO that is simple, affordable, and easy to introduce. With experienced industry professionals in your corner, you can turn your attention to making your gym the best it can be.

NEXOSync is a cost-effective, intuitive solution with a proven track record of success delivering the five benefits outlined above. We make it easy for you to  and know how important it is to provide the very best services for you and your team. Whether you are seeking assistance with payroll and taxes, or you are searching for a comprehensive solution to take your gym to the next level, NEXOSync will deliver the support you need.

Your trusted solution for all your HR functions

If you are ready to put your gym on the fast track to success, the NEXOSync team is here to help. As your trusted solution for your HR needs, we will work with you to develop a customized collection of HR functions that will delight both you and your employees.

We invite you to discover why gym owners across America turn to us for guidance and management of their human resource functions. As your single source for HR solutions, we can take the day to day management of payroll, taxes, and benefits off your plate so you can focus on growing your gym. We look forward to providing you with the five-star service you deserve!