3 WAYS SMALL BUSINESSES BENEFIT FROM USING A PEO
THEY GROW 7 TO 9% FASTER
Since December 2004, employment at small businesses using a PEO has grown more than 7 percent faster than at small businesses overall, according to the Intuit Small Business Employment Index
THEIR EMPLOYEE TURNOVER IS
10 TO 14% LOWER
The average overall employee turnover rate in the United States is approximately 42 percent per year, based on 2012 data. It is 28 to 32 percent for companies that used a PEO for at least four quarters.
THEY ARE 50% LESS LIKELY
TO GO OUT OF BUSINESS
Businesses that use a PEO are approximately 50 percent less likely to fail (permanently go “out of business”) from one year to the next when compared to similar companies in the population as a whole. The overall business failure rate among private businesses in the United States as a whole is approximately 8 percent per year, based on 2012 data. It is approximately 4 percent per year for those companies that used a PEO for at least four quarters.
Source: Data gathered in a recent study by noted economists, Laurie Bassi and Dan McMurrer.
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