Professional Employer Organizations - 2023 U.S. Market Research Report with Updated COVID-19 & Recession Risk Forecasts
The 78-page 2023 Professional Employer Organizations Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100+ data sets covering 2014-2027.
This Kentley Insights report is full of industry insights including historical and forecasted market size, revenue and industry breakdowns by product lines, size of company, concentration segmentation, business structure, customer type, state and MSA, profitability, financial ratios, balance sheet benchmarks, BCG matrix, extensive statistics by state and MSA, operating expense details, workforce composition, industry consolidation analysis, sector benchmarks, employee productivity, price inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on numerous industry statistics including companies, locations, employees, pay, and much more.
The Professional Employer Organizations (PEO) industry includes companies primarily engaged in providing human resources and human resource management services to client businesses. Companies 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, payroll tax, benefits administration, workers’ compensation, unemployment, and human resource administration. Professional employer organizations (PEOs) are responsible for payroll, including withholding and remitting employment-related taxes, for some or all of the employees of their clients, and also serve as the employer of those employees for benefits and related purposes.
This report was developed utilizing the results from extensive business surveys and econometrics. Professionals utilize this report for market sizing, industry analysis, benchmarking, forecasting, strategic planning, market analysis, due diligence, valuation, sales & marketing strategy, operational streamlining, organizational strategy, evaluating opportunities, and many other analyses.
Review the 78-page table of contents or download a sample report to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.
Below are a few of the hundreds of stats from the report:INDUSTRY SIZEIn 2022, industry sales were $291.2 billion
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INDUSTRY GROWTHOver the past 3 years, the industry has grown at an annual rate of 10.5%
The report has historical, annual and forecasted growth rates
COMPANY GROWTHThere are 2,939 companies in the industry
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SALES PER COMPANYIn 2022, the average sales per company was $99.1 million
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INFLATION & PRICING2021 inflation was 2.1%
The report has historicals (2014-2022), 4 years of monthly figures, and 2023 & 5-year forecast
PROFITABILITYFor unprofitable companies, the average net loss is -4.8%
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RIGHTSIZING ANALYSISEmployee productivity is $98,574
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EXPENSE BENCHMARKING2.4% of expenses is spent on health insurance
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OPERATING EXPENSESIn 2022, industry operating expenses grew 14.4%
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PAYROLLIn 2022, payroll per employee was $63,383
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PAYROLL BY STATECalifornia averages $94,235 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS1.4% of employees in the industry are in management positions
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JOB CATEGORIZATION PAY RANGESThe average industry hourly pay for office and administrative jobs is $19.13
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The above stats represent a small fraction of what you will find in this report.
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NAICS CODE: 561330