A professional employer organization (PEO) provides comprehensive human resources (HR) solutions for small and mid-size businesses. Payroll and tax administration, medical and retirement benefits, HR, workers’ compensation and safety support, and regulatory compliance assistance.
By taking care of paperwork and providing regulatory compliance assistance, PEOs help businesses improve productivity, increase profitability, and focus on their core mission.
Through a PEO, the employees of small businesses gain access to big-business employee benefits such as: 401(k) plans; health, dental, life, and other insurance; dependent care; and other benefits they might not typically receive as employees of a small company.
Nearly 16% of small business owners are PEO clients.
About 180,000 businesses use a PEO.
2.7 million employees are part of PEO arrangements.