The professional employer organization (PEO) sector has indeed witnessed several challenges in the past few years. Technology-driven HR software solutions that operate outside of the co-employment space have been the most prominent among them. However, the pandemic has reiterated the significance that PEOs hold for startups and small and mid-sized businesses (SMBs). Notably, the businesses that partnered with PEOs had quite a few advantages over their peers during this COVID-19 crisis.
Today, PEOs are well-positioned to cater to the mounting challenges of businesses that have arisen due to the pandemic. While SMBs are being overwhelmed with the COVID-related regulations and guidelines, PEOs are instrumental in implementing processes that can benefit the businesses and keep them compliant. As legislation is changing swiftly, it is also becoming imperative to ensure that the businesses are following federal, state, and local regulations concerning employee work hours and flexible work arrangements. PEOs are providing businesses with the much-needed expertise in that regard. Moreover, PEOs are enabling them to take advantage of the rapid law changes that aid struggling businesses, like the CARES act and Families First Coronavirus Response Act (FFCRA). Besides, with the workforce increasingly being distributed and remote, PEOs are helping employers in a wide range of issues associated with managing a remote workforce as well.
At the same time, the sector is also witnessing an increasing adoption of technology to address these evolving demands. PEO services companies are growingly adopting cutting-edge technologies, such as big data analytics, machine learning, and natural language processing (NLP), to transform their business models. Most of the PEOs also provide more flexible and agile self-service options for the employees today to keep them in complete control of their benefits management.
At this juncture, there is a variety of PEO services companies available in the market that cater to the different needs of startups and SMBs. To help them choose the company that best fits their requirement, Manage HR has compiled a list of the top 10 PEO services companies. The enlisted companies are the frontrunners in the market that provide a wide span of features. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Manage HR’s, “Top 10 PEO Services Companies – 2021.