By Michael Altiero
Human resources can cause big headaches for small businesses. Between the time, energy, and resources that go into HR, it’s not too surprising to see Small and Midsize Business (SMB) leaders worry about how they will handle this important function of their organization. But what if there was a way for your company to remove this burden from your day-to-day activities, and instead focus your time and energy on growing your business? This is where a PEO can help your company.
You might be thinking to yourself – “What is a PEO?” A Professional Employer Organization (PEO) is a firm that allows small and medium-sized businesses to outsource their HR management responsibilities. These services can include HR, payroll, benefits, and risk management just to name a few.
While there are many benefits to working with a PEO, a recent report from the National Association of Professional Employer Organizations (NAPEO) uncovered some eye-opening statistics about the PEO industry. Not only did they find that the industry is growing, they also found the following four stats on the value PEOs create for their clients.