What is a PEO?
I have decided that I need push everyone in the Professional Employer Organization to started talking about the term PEO as it is defined by our industry. And I will do this until we grow from the 3% market penetration we’ve been at for several years.
Wikipedia has the following definition; A professional employer organization (PEO) is a single source provider of integrated services which enable business owners to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation and other strategic services, such as recruiting, risk/safety management, and training and development. It does this by hiring a client company’s employees, thus becoming their employer of record for tax purposes and insurance purposes. This practice is known as co-employment.