| 5/21/2018
The National Association of Professional Employer Organizations (NAPEO) hosts its annual PEO Capitol Summit in the nation’s Capital this week, and some 200 representatives of professional employer organizations (PEOs) will be in town to discuss issues surrounding new developments in workplace laws & regulations, tax reform legislation, and healthcare.
PEO industry executives will also meet with members of Congress 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.
“The PEO industry is booming and that’s because more and more business owners realize that using a PEO allows them to focus on running their businesses by handing off all the HR and compliance related tasks, ” NAPEO President & CEO Pat Cleary.
“PEOs help small and midsized businesses comply with a host of labor and employment laws, both federal and state. They also help small businesses grow 7-9 percent faster, have 10-14 percent lower turnover, and generate higher profits. That’s something every member of Congress can appreciate.”
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.