Florida Peo Services
The Impact of Professional Employer Organizations (PEO)
The PEO industry can be referred to by many different names: Professional Employer Organization (PEO), Employee Leasing, Staff Leasing, Administrative Service Organization (ASO), or Human Resource Outsourcing (HRO), just to name a few. By whatever name, there is no denying that PEOs impact business on a national level.
A relatively youthful industry — around 30 years old — PEOs have vast room to grow. There are about 700 PEOs that are operating in 50 states. The industry’s gross revenue has grown as PEOs attract more diverse, fast-growth clients and the typical salary of the worksite employees increases.
|
National PEO Employees |
National PEO Businesses |
National PEO Payroll Dollars |
|
1,750,000 |
92,0000 |
$59,000,000,000 |
*Source: NAPEO’s 2009 Financial Ratio and Operating Statistics Survey.
National Association of Professional Employer Organizations
707 North Saint Asaph Street
Alexandria, VA 22314
The impact PEOs have had in the state of Florida is even more dramatic. The Florida Association of Professional Employer Organizations (FAPEO) surveyed to determine the size of the PEO industry. Florida PEOs employ more than 700,000 employees, serve over 50,000 companies, and pay $24 billion in payroll, making the Florida PEO industry one of the largest employers in the state of Florida.
|
Florida PEO Employees |
Florida PEO Businesses |
Florida PEO Payroll Dollars |
|
768,343 |
56,096 |
$24,270,370,320 |
*Source: Florida Association of Professional Employer Organizations 2009 Industry Census
Florida Association of Professional Employer Organizations
335 Beard Street
Tallahassee, Florida 32303
PEOs are a formidable force in Florida. The specialized knowledge of a state’s employment laws and regulations that a PEO offers employers can and does provide expanded human resources services and employee benefits while providing a high value and efficient outsourcing option for businesses from many different industries. In Florida, as in all states in which a PEO operates, the PEO offers specialized knowledge. For example, a Florida PEO specifically provides Florida Payroll Services, Florida Employee Health Benefits, Florida Workers Compensation, Florida Unemployment Service, and Compliance with Florida Local, State and Federal Laws.
