You’ve just received your renewed rates from ADP, and while they’ve likely increased, the question remains: Are they beyond what you’re willing to pay? Fortunately, signing a renewal doesn’t mean you’re locked in for the next 12 months. With a 30-day out option in your ADP contract, now could be the optimal time to explore the market and strategize for a January transition.
- Avoid Shopping with the Herd: Many ADP clients conduct market research before their renewal, which can lead to defensive pricing from PEOs due to high demand. Shopping post-renewal provides leverage with competitors.
- Strategize and Evaluate: Without the pressure of an imminent renewal deadline, you can set your timeline and focus on the option that best suits your company’s needs. After determining your renewal rate, reassess your costs and compare them to available PEO and non-PEO options. Consider changes in employee benefit participation, company size, and growth trajectory.
- Aligning with Medical in January: A January start date that aligns with a medical plan streamlines the transition for employees, accountants, and HR contacts.
Questions to Consider When Shopping PEOs:
- Do you receive itemized bills?
- What level of service do you require?
- Do you have a dedicated point of contact?
- How responsive is the PEO to your concerns?
You Don’t Have To Go This Alone:
Shopping for a PEO doesn’t need to be time-consuming. A PEO broker, like PEO Advantage, handles the legwork to find the best solution at the best price for your company’s needs. We offer a complimentary detailed financial analysis of your current costs, negotiating with each PEO on your behalf to streamline the process by 80%. Reach out to us today to learn more and get started.