Professional Employer Organizations ("PEOs") Grew 25% in 2014
Our friends at the National Association of Professional Employer Organizations ("NAPEO") continue to bring further factual evidence about the PEO industry. In this instance, NAPEO has proudly displayed further empirical evidence out of this month's INC magazine.Great job Kerry Carruthers!Click here to visit the featured NAPEO article in the March edition of Inc magazine.Some of the statistics Laurie and NAPEO report that further illustrate what the PEO model does for American Business and their loyal employee base.A couple very interesting facts :
- Twice as many American worker's that use a PEO are part of some type of retirement plan (i.e. 401K) for employers that have 10 employees or more.
- American businesses that use PEO's have a 24-33% lower turnover rate.
- Businesses that use PEO's have a 50% lower failure rate.
- Businesses that use PEO's grow at a 7-9% faster rate.
I can almost hear from Florida the grumbling from the financial district ---- says who?Much of this data was compiled by renowned economist Laurie Bassi. Laurie is a PHD in Economics from Princeton who specializes in Human Resources and the optimization of the business ecosystems between a business, their employees and the clients which each serves.I love the vision of her firm:
McBassi’s Vision
A world in which companies are forces for good – worthy of their employees’ best efforts, customers’ continued business, and investors’ ongoing support
"Amen." - "How About Them Apples!"Well deserved factual NEWS for a historically misunderstood and oft-maligned industry!These data points continue to affirm that the PEO model is by far the best platform to deploy "Fortune 2000" bundled HR, regulatory compliance and insurance offerings.Ask the experts! Ask a PEO...- Paul Hughes