We’re facing some uncertain times in Australian business, but there is one thing we can be sure of; the majority of Australian companies are going to take a hard hit in the coming months. And, whether we like it or not, these companies need to put measures in place to deal with what is shaping up to look like an imminent Australia recession.

At Australia PEO, our professional employment organisation has been helping Australian business look at these tough times from a different perspective.

Every business outsources

Have you never been a fan of outsourcing? You probably haven’t looked at it this way, but you outsource more than you think. Chances are you don’t sell direct to a customer and rely on distributors to get your product to market. You might also have your product manufactured overseas. Content management platforms like HubSpot are also another form of outsourcing. In an economic downturn, one key strategy is to convert fixed costs to variable costs and outsourcing is the perfect solution to achieve this.

By outsourcing all non-strategic functions like HR and payroll with Australia PEO, you can save the business from having to be led by astronomical overheads. Do you really need a full-time CFO or would a fractional CFO that’s a shared resource with other companies work for you?

Most of your HR and payroll functions can be outsourced by working with Professional Employment Organisations like Australia PEO. We can help process your payroll and manage all visa requirements so you can get back to focusing on other crucial business matters. By pooling with other companies to share HR resources with Australia PEO, you can reap the benefits of significantly lower costs.

Why is partnering with a PEO a wise decision for the next Australia recession? 

It’s easier to recruit and keep the best talent

Recent studies have shown that companies who use PEOs experience 20-30% lower employee turnover. Australia PEO helps businesses improve their employees’ employment experience by streamlining and simplifying HR and payroll functions.

It minimises overheads

Companies who use Australia PEO save around 30% more in costs. In tough economic times, business owners count every dollar. Australia PEO offers a solution that can scale and retract as the business navigates its way through a recession. Our partnerships provide all the expertise and support required for HR processes without the need for a dedicated in-house team member.

It offers consistency

Companies who use a PEO enjoy increased growth rates of up to 9% compared with those who don’t. Australia PEO provides unparalleled HR support that allows business owners and high-level employers to spend less time focusing on these areas and more time strategising ways to overcome the economic downturn.

As a business owner, you’re faced with many unavoidable decisions. You’ve likely been forced to lay off staff or chosen to freeze hiring. How you sail through this storm will determine your destination at the end of it all. A successful business isn’t necessarily one with lots of turnover, but one that finds ways to survive – and even grow – in an economic downturn.

Want to know how Australia PEO can help your business survive the next Australia recession? Contact us today.