Oct 21 2009
Just The Facts About PEO Services
The PEO industry grew a very robust $5 billion in 2008, to $68 billion in gross revenues.
About 700 PEOs are operating in 50 states.
PEOs provide enhanced access to employee benefits for 2-3 million working Americans.
The average employer who uses a PEO saves between 15-40% on their workers’ compensation costs depending on what type of work they do and past claims history.
Employers find PEO services as a great business value! The National Association of Professional Employer Organizations (www.napeo.org) reports that almost 9 of 10 business owners stay with the PEO concept.
The small business administration reports that Between 1980 and 2000, the number of labor laws and regulations grew by almost two thirds and estimates small to mid-sized business owners spend up to a quarter of their time on employment-related paperwork. PEOs assume much of these burdensome responsibilities and help companies comply with all these regulations.
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