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Employee Leasing Services in the USPublished by: IBISWorld Published: Oct. 7, 2005 - 31 Pages Table of ContentsIndustry Definition Key Statistics Market Characteristics Segmentation Industry Conditions Performance Key Competitors Key Factors Outlook AbstractMany operators in this industry are also known as professional employer organizations (or PEOs) who provide leased employees and payroll and benefit administrative services to their clients. A leased employee is a worker who is essentially rented on a long-term basis from an agency that is responsible for employing the worker, paying the salary or wages and taxes and providing benefits for that employee. Under a typical agreement, an employer contracts with a leasing company and dismisses some or all of its employees who are hired by leasing company and then leased on a long term basis to the original employer. Most PEOs also provide human resources and human resource management services to staff client businesses. Establishments in this industry operate in a co-employment relationship with client businesses or organizations and are specialized in performing a wide range of human resource and personnel management duties, such as payroll accounting, payroll tax return preparation, benefits administration, recruiting and managing labor relations.Employee leasing establishments exercise varying degrees of decision making relating to their human resource or personnel management role, but do not have any management accountability for the work of their clients' operations with regard to strategic planning, output or profitability. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are three year industry forecasts, growth rates and an analysis of the industry key players and their market shares. |
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