Florida Professional Employer Organization (PEO) companies comprise about 14% of the industry, with close to 50 PEOs across the state. Florida, along with Texas, has the most PEOs in the nation. PEOs help their clients manage their businesses more effectively, avoid compliance pitfalls to create key benefits for the business. This also frees up time for business owners, allowing them to focus on things that are core to the business, such as operations and strategy.
A recent PEO study in Florida Trend Magazine shows:
- There are approximately 1,000 PEOs nationwide.
- The industry’s gross revenue is between $136 billion and $156 billion.
- PEOs have grown 15% to 25% in recent years.