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PEO stands for Professional Employer Organization. Known in the 1980's and 1990's as "employee leasing," the turn of the century has seen a change in the direction of the level of services provided-thus changing how the industry is known. Knowledge, technology and expertise have allowed PEO's to grow in numbers and employ millions across the nation. Mainly, small to medium size businesses have been benefiting from the use of PEO's, but even large national companies are seeing the corporate advantage gained in outsourcing their employees.
The number of co-employees has risen dramatically over the years.
By utilizing a co-employment agreement with a PEO, business owners have been able to save 20 to 70 percent of labor costs while adding productive hours back into their work week. With this time, clients of a PEO experience growth and profits!
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