A professional employer organization (PEO) is a firm that provides a service under which an employer can outsource employee management tasks such as employee benefits, payroll and workers' compensation, 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
As of 2010, there were more than 700 PEOs operating in the United States, covering 2-3 million workers. PEOs operate in all fifty U.S. states. Similar services are described in Sweden and Germany.
Read more about Professional Employer Organization: Business Model, Early History, Abuses, Regulation
Famous quotes containing the words professional, employer and/or organization:
“... all professional ideologies are high-minded. Hunters, for instance, would not dream of calling themselves the butchers of the woods.”
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“The organization controlling the material equipment of our everyday life is such that what in itself would enable us to construct it richly plunges us instead into a poverty of abundance, making alienation all the more intolerable as each convenience promises liberation and turns out to be only one more burden. We are condemned to slavery to the means of liberation.”
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