PEOs: Fueling Business Growth
PEOs (Professional Employer Organizations) have served small businesses for more than 30 years. They were founded to fill the gap for first-class HR support and benefits for small to mid-sized businesses, who typically don’t have the resources to have an in-house HR department, but most definitely have the need for HR services. Currently, PEOs serve more than 150,000 businesses and 3 million employees in the U.S. But what is a PEO?
PEOs by the Numbers
- Faster Growth. Over the past 15 years, employment at small businesses using PEOs has grown between 7 and 9 % faster than small businesses overall.
- Lower Turnover. Small businesses that have used a PEO for at least four quarters have experienced employee turnover at rates 10 to 14 % lower than the average rate for U.S. businesses.
- Greater Longevity. Privately held businesses that use PEOs are approximately 50 % less likely to fail (permanently cease operations) when compared to similar U.S. companies.
What is a PEO and How Can it Help Your Business
A PEO relieves burdensome HR work from small business owners and helps lower employee turnover and helps a business grow faster.
Expertise You Can Use Now
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