White Label HR to Serve Market of Start-Up, Early Stage, and Lifestyle PEOs
Earlier this year, the firm had a soft launch for sister company White Label HR, Inc (WLHR) to satisfy a growing market need in the PEO industry for outsourced back office services for start-up, early stage, and lifestyle PEOs.
In our 15 year history we have consulted to well over 100+ PEOs, and we have also launched and assisted nearly 30 other start-up and early stage PEOs in their birth or infancy.
Historically, it was primarily in a consulting role in which we assisted these start-ups and early stage PEOs with their strategy, their business plan, their business model and building the technology platform along with their product and services offerings. In recent years, the PEO market has been evolving. Recent trends, new legislation, and improving market conditions have driven an accelerating interest from other market verticals to consider and enter the PEO markets. This increased interest in the PEO market has been from a variety of new sources such as staffing companies, payroll companies, benefit brokers, labor attorneys, and insurance carriers to name a few.
These new groups that are entering the space have expressed an interest in the PEO market as a diversification strategy. Many have expressed an interest in outsourcing their PEO back office so they can focus on the outward facing areas of the PEO and business development. The primary benefits of using White Label HR, include but are not limited to, the following:
- An initial PEO Primer to provide a deep dive into the intricacies of the variety of PEO business models, strategies, PEO industry metrics and benchmarks, forecasting template and overview of the competitive landscape.
- Assistance annually with the strategic plan
- Operating guidance from experienced PEO operators and management
- Built in advisory board
- Lower initial start-up costs and cash outlay
- High end PEO technology platform utilizing Prism software
- Prism training on the outward facing functions that your team will need to access the information they need
- Increases speed to market for PEO start-ups
- Vendors recommendations and referrals
Many of the new groups entering the PEO market from other verticals are now expressing interest in the White Label HR program already have existing client bases in their core business. Their interest in a new PEO division is their desire to upsell a new suite of services and obtain an incremental revenue stream.
Another unexpected phenomenon has emerged this year. We have been getting inquiries from small smaller lifestyle PEOs that are faced with the daunting challenge of a future event related to changing PEO technology platforms and the subsequent conversion and implementation. With this event approaching, a number of established smaller lifestyle PEOs are considering outsourcing their payroll department, benefits department and portions of their accounting function.
How the White Label HR Program Works
The White Label program is designed to deliver services as an extension of your PEO.
We provide services in the following PEO functional areas in which certain tasks are performed by WLHR and others are the responsibility of our PEO Client:
We understand that starting a new business can be both a time of excitement and uncertainty. Our White Label program is designed to lower your start-up costs, provide you with the comfort that your services will be top quality, your strategic plan will be sound, and that your speed to market will be accelerated.
If you have an interest in learning more about our White Label HR back office services, please do not hesitate to contact me at dan@mchenryconsulting.net.
