SOURCE: PEO Network

October 19, 2007 08:01 ET

HR Outsourcing for Small Firms Predicted to Double by 2014

RALEIGH, NC--(Marketwire - October 19, 2007) - New Article Expands on 7-year Study of PEO Market Released by PEO Network and IDC.

"The small business economic engine is booming and so goes the PEO industry," said Carrie Aaron, president of PEO Network. "After a setback in 2001 due to post 9-11 and a difficult Workers' Compensation market, the PEO industry is predicted to double by 2014."

"The small business market opportunity is strong in the United States given its size and growth. Employment among small employers increased at a growth rate of nearly 12 percent from 1999 to 2006 according to the BLS. Small companies employ half of all workers in the U.S. private sector," said Lisa Rowan, program director of HR and talent management services research for IDC.

The October 2007 issue of the PEO Insider® features a 5-page article, "Double PEO Market Share," predictions for the upcoming tipping point. Professional Employer Organizations provide an outsourced solution for the HR needs of small employers. The article outlines the historical path of PEOs, including statistics from three major research projects conducted by PEO Network. This extensive article includes data from the BLS regarding PEOs, the number of PEOs in 2000, 2003 and 2006 as well as a partial list of PEO transactions. A copy of the article can be found at http://www.peonetwork.com/articles/aaron1007.pdf.

PEO Network is a consulting firm to the HR Outsourcing industry. President Carrie Aaron has over 24 years of HR Outsourcing industry experience and founded PEO Network in 1995. PEO Network provides consulting, training programs, articles, seminars and research projects to the HRO/PEO sector.

For more information, visit www.peonetwork.com.

Contact Information

  • Contact:

    Carrie Aaron
    President
    PEO Network
    (888) 888-7366