| 5/17/2016
May 17, 2016, Arlington, Virginia—The National Association of Professional Employer Organizations (NAPEO) is holding its annual PEO Capitol Summit in the Washington, D.C. area this week, and some 200 representatives of professional employer organizations (PEOs) will be in town to discuss newly-released proposed regulations implementing the new voluntary IRS PEO certification program, issues surrounding new developments in workplace laws & regulations, and other key topics.
PEO industry executives will also meet with their senators and representatives to highlight the positive economic impact of the industry, as well as the multiple ways PEOs benefit both small businesses and their employees. PEOs provide comprehensive HR, benefits, and compliance assistance solutions for 156,000 to 180,000 small businesses and between 2.7 and 3.4 million worksite employees. The current size of the industry is between $136 and $156 billion.
“We’ve got the economic data to prove the premise we’ve always known to be true: PEOs are good for both small businesses and their employees. There’s something for every member of Congress – republican or democrat – to love about our industry, and that’s the story we will tell,” said NAPEO President and CEO Pat Cleary. “Not only do PEOs have a proven track record of promoting small business compliance with a broad scope of federal and state employment and workforce laws, they also help small businesses grow 7-9 percent faster, have 10-14 percent lower turnover, and be 50 percent less likely to go out of business.”
About NAPEO:
The National Association of Professional Employer Organizations (NAPEO) is the Voice of the PEO Industry, with a membership of 300 PEOs of all sizes and 250 industry service partners. PEOs provide payroll, benefits, regulatory compliance assistance, and other HR services to small and mid-sized companies. Through PEOs, the employees of small businesses gain access to employee benefits such as 401(k) plans; health, dental, life, and other insurance; dependent care; and other benefits typically provided by large companies. PEOs provide services to between 156,000 to 180,000 businesses employing between 2.7 and 3.4 million people and generate between $136 and $156 billion in gross revenues annually. For more information about the PEO industry and NAPEO, please visit www.napeo.org.