ALEXANDRIA, Va., May 17, 2024
/PRNewswire/ -- Hundreds of owners, executives and employees
of professional employer organizations (PEOs) around the country
will be gathering in Washington,
DC next week to celebrate National PEO Week, which
recognizes the key role of PEOs in helping small businesses and
their employees thrive.
PEOs provide payroll, employee benefits, compliance assistance
and HR services to hundreds of thousands of small and mid-sized
businesses that employ more than 4.5 million people. These
businesses are in every state and congressional district.
National PEO Week coincides with the National Association of
Professional Employer Organizations' (NAPEO) PEO Capitol Summit,
the association's annual legal and legislative conference and
fly-in. On May 21, hundreds of PEO
representatives will head to Capitol Hill to talk with their
elected representatives in the House and Senate about the
industry's broad impact on the small business sector. They'll also
urge lawmakers to push the IRS to process hundreds of thousands of
legitimate Employee Retention Credit (ERTC) applications from small
and mid-sized businesses, many of whom have been waiting years to
receive these funds that are critical to their survival.
PEOs across the country will also be commemorating the National
PEO Week in their own communities in a variety of ways, including
virtual events, client outreach, social media campaigns and staff
celebrations.
"The success of small business is critical to the future of our
country and our economy, and we look forward to celebrating all our
industry does to help make that possible during National PEO Week,"
said NAPEO President & CEO Casey
Clark. "By fulfilling back-end payroll, benefits and
compliance needs, we enable business owners to focus on growing
their business, attracting and retaining talented employees, and
helping their communities."
NAPEO research indicates that businesses that use a PEO:
- Grow seven to nine percent faster.
- Have ten to 14 percent lower employee turnover.
- Are 50 percent more likely to stay in business.
National PEO Week has been recognized in the federal
Congressional Record and by the National Day organization, which
annually approves only 30 requests out of 25,000 applications. Many
states have also issued proclamations in recognition of National
PEO Week, including Arizona,
Colorado, Georgia, Hawaii, Kansas, Kentucky, Massachusetts, New
Mexico, Ohio, Oklahoma, South
Carolina, and Texas. It is
celebrated the third full week in May each year.
About NAPEO:
The National Association of Professional Employer
Organizations (NAPEO) is the Voice of the PEO Industry. NAPEO's 210
PEO members provide HR expertise, payroll, benefits, regulatory
compliance assistance, and other services to small and mid-size
businesses in every state. Businesses that use PEOs grow 7-9%
faster than non-PEO users and are able to offer robust benefits
packages not typically available to employees of smaller
businesses. NAPEO members account for more than 90 percent of the
PEO industry's $358 billion in
revenue. An additional 196 companies that provide services to PEOs
are associate members of NAPEO. For more information, please
visit www.napeo.org.
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SOURCE National Association of Professional Employer
Organizations (NAPEO)