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:
“So-called professional mathematicians have, in their reliance on the relative incapacity of the rest of mankind, acquired for themselves a reputation for profundity very similar to the reputation for sanctity possessed by theologians.”
—G.C. (Georg Christoph)
“If factory-labor is not a means of education to the operative of to-day, it is because the employer does not do his duty. It is because he treats his work-people like machines, and forgets that they are struggling, hoping, despairing human beings.”
—Harriet H. Robinson (1825–1911)
“To fight oppression, and to work as best we can for a sane organization of society, we do not have to abandon the state of mind of freedom. If we do that we are letting the same thuggery in by the back door that we are fighting off in front of the house.”
—John Dos Passos (1896–1970)