As Companies Outgrow Current PEO Providers, isolved Aggressively Grows its PEO Footprint with Future-Proof Functionality
Releases New Data on Employer Expectations and Provider Wins
CHARLOTTE, N.C., Aug. 29, 2022 /PRNewswire/ -- Forty-one percent of human resource (HR) leaders who are considering leaving their current professional employer organization (PEO) provider will do so because they need a broader HR tech platform, followed by having "outgrown" their current provider (26 percent) according to a recent survey of over 500 HR leaders conducted by isolved. Finding competitive advantage in the market is a key reason why more and more companies are choosing isolved People Cloud™ and human resource outsourcers (HRO) are choosing the isolved Network – investing in a scalable and secure product suite and partner. Today, the isolved Network serves more than 2 million employees and nearly 80,000 employers across both administrative services organization (ASO) and PEO segments.
As companies seek more comprehensive solutions, isolved is experiencing double-digit growth across the number of employees and employers served, correlated to impressive ASO and PEO win rates. In fact, a survey of isolved Network Partners in both the ASO and PEO market segments found that nearly 60 percent of respondents win 10 percent more deals on average than they did before isolved. Further, nearly a quarter (24 percent) indicate they win 20 percent more often than they did without isolved.
"isolved is experiencing a period of hyper growth in sales and service, strategic growth that is helping fund significant software and security investments," said Todd La Fever, Chief Operating Officer of isolved. "Our continuous investments in PEO capabilities, scalability and security means companies don't outgrow isolved like we're seeing elsewhere in the market.
"Providers can be confident that the capabilities isolved provides for their businesses will mitigate the risk associated with costly and disruptive technology upgrades prevalent with many vendors in the industry today. With isolved, providers have a long-term partner and product that will grow with their business."
Chris Connell, President of isolved Network added, "The PEO industry requires a broader set of capabilities and isolved's aggressive investment in its platform, people and processes are proof points of our commitment to being the partner of choice in the industry. Whether it is cybersecurity, the ability to span both PEO and ASO segments based on the needs of employers or delivering a comprehensive set of HCM capabilities, PEO providers require a committed partner who will consistently deliver on their needs."
isolved's recent investment highlights include:
- Significant research and development investment
- Accelerated roadmap development, delivering increased functionality on a quarterly basis to HRO providers
- Expanded course content within the isolved University to include a specific isolved People Cloud for PEO curriculum, enabling providers and their customers to take full advantage of isolved solutions
- Aggressive investment in cybersecurity capabilities to safeguard provider and customer data and maintain high levels of availability as well as continual best-practice sharing with providers
- Expanded PEO and product management teams with top industry talent from both operational and product disciplines
- Dedicated expertise on platform capabilities, training, implementation and migration
- Continued expansion of the full suite of integrated human capital management (HCM) capabilities spanning Talent Acquisition, HR & Payroll, Workforce Management and Talent Management – reducing dependency on third-party providers
- Robust support services for providers across technical support, solution consulting and demonstration support as well as agency-level marketing support to drive sales success through isolved Network
- Establishment of a PEO Product Advisory Group to actively engage leading providers to solicit both feedback and input on product functionality and ensure providers have an active voice in delivering next-generation capabilities for the industry
"The combination of our technology and our isolved Network sales and support capabilities are unique in the industry," stated Connell. "It's the best of both worlds: a partner that can help a PEO sell and a partner that can help them serve."
To learn more about isolved's continued focus on the PEO sector, visit us at the upcoming NAPEO Annual Conference being held in Palm Springs, CA from September 12-14 at the JW Marriott Desert Springs Resort & Spa.
About isolved
isolved is an employee experience leader, providing intuitive, people-first HCM technology. Our solutions are delivered directly or through our HRO partner network to more than five million employees and 145,000 employers across all 50 States — who use them every day to boost performance, increase productivity, and accelerate results while reducing risk. Our HCM platform, isolved People Cloud, intelligently connects and manages the employee journey across talent acquisition, HR, payroll & benefits, workforce management and talent management functions. No matter the industry, we help high-growth organizations employ, enable and empower their workforce by transforming employee experience for a better today and a better tomorrow.
Media Contact
Amberly Dressler, Sr. Director of Brand & Content Strategy
[email protected], 714.851.5794
SOURCE isolved
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