A new study by McBassi & Company surveyed PEO clients across the nation concerning the COVID-19 Pandemic. The results are right in line with the feedback UniqueHR received from our clients.
Concerning PPP Loans:
- 98% of PEO clients’ PPP loan applications were successful.
- PEO clients were more than twice as likely to receive PPP loans–65.9% of PEO clients received PPP loans compared with 30.1% of other small businesses.
- 49.7% of PEO clients received PPP loans in Round 1, compared to 28.9% of other small businesses. This was at a crucial time when businesses needed the PPP loans to remain open.
- Only 1.3% of PEO clients were temporarily closed during the pandemic, compared with 14% of all others.
- Permanent closings of PEO clients were less than half of all businesses, 0.6% and 1.5% respectively.
Clients consistently praised their partner PEO for:
- Human Resource expertise and diligence staying on top of new legislation
- Safety professionals who guided them through OSHA and infectious disease protocols; and
- Quick and timely Payroll and HR reporting required for PPP loans, which yielded the successes above.
When, “we’re in this together” may seem like a trite phrase at times, UniqueHR demonstrated time and again that not only are we in this together, we are here for you.