2019 Payroll Services Market Research Report
Over the past 3 years, the Payroll Services industry in the U.S. has averaged annual growth of 4.2% to reach $48.4 billion in revenue. The 2019 Payroll Services Market Research Report is an in-depth evaluation of the industry in the United States.
The Payroll Services industry includes companies (except offices of CPAs) engaged in the following without also providing accounting, bookkeeping, or billing services: (1) collecting information on hours worked, pay rates, deductions, and other payroll- related data from their clients and (2) using that information to generate paychecks, payroll reports, and tax filings. These companies may use data processing and tabulating techniques as part of providing their services.
The report is based on extensive and comprehensive business surveys and is utilized for a range of strategic purposes, including benchmarking, due diligence, cost-cutting, planning, evaluating opportunities, forecasting, streamlining, and gap analysis. The report includes over 100 insightful data sets, such historical and forecasted industry sales, operating expense details, product line breakdown, financial ratios, benchmarks, wages, profitability, organizational analysis, revenue per employee, state statistics, price inflation, consolidation analysis, firm dynamics, pay ranges for different roles, firm size data, employment, and much more.
Below are select highlights from the report:
In 2018, industry sales were $48.4 billion
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Over the past 3 years, the industry has grown at an annual rate of 4.2%
The report has historical, annual and forecasted growth rates
There are 4,776 companies in the industry
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SALES PER COMPANY
In 2018, the average sales per company were $10.0 million
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INFLATION & PRICING
2019 forecasted inflation is 2.9%
The report has historicals, 4 years of monthly figures, and the 5-year forecast
For unprofitable companies, the average net loss is -8.5%
The report has more on market and profitability dynamics
Employee productivity is $83,980
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3.1% of expenses are spent on health insurance
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In 2018, industry operating expenses grew 1.1%
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In 2018, payroll per employee was $43,250
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PAYROLL BY STATE
California averages $48,988 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS
8.4% of employees in the industry are in management positions
Benchmark against 13 other job categories
JOB CATEGORIZATION PAY RANGES
The average industry hourly pay for office and administrative jobs is $20.21
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The above highlights represent a small fraction of what you will find in this report.
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