PEO
Professional employer organizations (PEOs) provide comprehensive HR solutions for small businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide to small and mid-sized businesses across the country.
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.
According to a recent study by noted economists Laurie Bassi and Dan McMurrer, businesses that use PEOs grow 7 to 9 percent faster, have 10 to 14 percent lower employee turnover, and are 50 percent less likely to go out of business
Why use a PEO:
By providing payroll, benefits, and HR services and assisting with compliance issues under state and federal law, PEOs allow small businesses to improve productivity and profitability, to focus on their core mission, and to grow.
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.
PEO description courtesy of the National Association of Professional Employer Organizations (NAPEO).
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