Helping Small Businesses Grow
Success takes focus and determination. Business owners have enough to focus without adding doing payroll, paying payroll taxes, workers compensation premium audits, negotiating health benefit renewals, and other HR related tasks. Using a PEO (Professional Employer Organization) can free up employers to stay focused.
Using a PEO Broker will not only save you even more time, but will ensure you get the right PEO at the best price.
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide to growing businesses across the country. Small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business.
Key Statistics From NAPEO.org
PEOs provide services to 175,000 small and mid-sized businesses, employing 3.7 million people.
There are 907 PEOs in the United States.
The total employment represented by the PEO industry is roughly the same as the combined number of employees for Walmart (United States only), Amazon, IBM, FedEx, Starbucks, AT&T, Wells Fargo, Apple, and Google.
The PEO industry’s 175,000 clients represent 15 percent of all employers with 10 to 99 employees.
Between 2008 and 2017, the number of WSEs employed in the PEO industry grew at a compounded annual rate of 8.3 percent. This is roughly 14 times higher than the compounded annual growth rate of employment in the economy overall during the same period.
Running a business is hard work! Small business owners have to be able to juggle a lot, from customers to competition and back office to front office. Those business owners who are able to stay focused on growing their business do their best. Those that get side tracked or tied up with administrative tasks and employer regulation responsibilities are not able stay focused.
Some small business owners think a PEO may be too expensive. Many find they actually save money and enjoy all the benefits! Find out how a PEO can power your business!
PEO’s help companies of all sizes. The ones that get the most help are small companies – from start up through 100 employees. With a Professional Employer Organization, these small companies can get the same benefits and cost savings that big companies get. They also get these great benefits while staying focused and reducing their work load.
If you want to learn more about the options PEO’s provide and how to find the right PEO for you, please contact us today!