International PEO Services Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

International PEO Services Statistics 2023: Facts about International PEO Services outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on International PEO Services, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will International PEO Services Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

Top International PEO Services Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 29 International Peo Services Statistics on this page 🙂

International PEO Services “Latest” Statistics

  • About 80% of the firms polled reported having introduced or extended universal work-from-home policies, and 67% anticipate that they will stay in place either permanently or for the long term.[1]
  • The number of worksite workers engaged in the PEO business increased from around 1.8 million to 3.7 million between 2008 and 2017 at a compound annual rate of 8.3%.[1]
  • Employment at SMBs utilizing PEOs has increased between 7% and 9% faster over the last 15 years than small to midsize firms.[1]
  • 85% of business managers expect remote work to become the new standard. According to 74% of employees, working remotely makes them less inclined to desire to quit the firm.[2]
  • According to a Gartner poll, when businesses actively pursued true connections with their employees, the number of workers who reported improved mental health increased by 23%.[2]
  • Over 50% of a company’s overhead is often accounted for by payroll, making it the single biggest expense for international corporations.[3]
  • The National Association of Professional Employer Organizations claims that small firms collaborating with PEOs see lower employee turnover rates of 10% to 14% than independent enterprises.[4]
  • Company owners without a PEO devote over 25% of their time to handling employee paperwork.[4]
  • 22% of freelancers began their careers after losing their jobs, while 32% began in school or after finishing their schooling.[5]
  • 33% of freelancers said there is a handicap living in their home, and 44% say they are also caregivers.[5]
  • According to 49% of gig workers, the most crucial aspect of working in the gig economy is the opportunity to choose one’s hours.[5]
  • 50% of freelancers provide professional employment, such as in marketing, consulting, or computer programming.[5]
  • 56% of gig economy employees said they accept side jobs to supplement their primary source of income with more money.[5]
  • In the U.S., 57% of sole entrepreneurs operate in the professional services industry. Both personal and repair services, retail, administrative, and construction services.[5]
  • Uber or Lyft in North America and Ola or Go-Jek in the Asia Pacific are examples of ridesharing or transportation services that generate 58% of global gig economy income.[5]
  • 59% of independent contractors think they earn more money this way than they would in a typical job.[5]
  • 75% of recent freelancers said they were doing it to maintain their financial security amid a downturn.[5]
  • Compared to typical employment, 84% of freelancers live their desired lifestyle, as compared to 54% of them.[5]
  • According to 86% of freelancers who believe the best days are still to come for their sector, the gig economy will continue to grow.[5]
  • 86% of independent contractors believe that the greatest days for contractors are yet to come.[5]
  • 52% of employees would have worked independently throughout their careers by the end of 2023.[5]
  • With 22% of people there engaged in gig labor, Florida has the greatest percentage of gig workers, followed by California with 20%.[5]
  • The percentage of employees in the UK that did distance online digital jobs increased from 4.9% to 11.9% between 2016 and 2021.[5]
  • Only 33% of independent full-time employees stated they were concerned about finding employment in the future.[5]
  • The industry with the biggest year-over-year rise in freelancer spending from 2019 to 2020 was data science and analytics, increasing by 115%.[5]
  • Delivery driving increased by 350%, domestic services by 166%, errand running by 200%, and remote digital web jobs by 100% between 2016 and 2021 in England and Wales.[5]
  • The worldwide freelancing market is expected to expand at a compound annual rate of 15%.[5]
  • The national association of PEOs claims that customers that use a PEO have 20% lower employee turnover.[6]
  • According to research, businesses that use PEOs save an average of $177 per employee year and have up to 14% reduced employee turnover.[7]

Also Read

How Useful is International Peo Services

One of the key benefits of utilizing International Peo services is the ability for businesses to tap into talent pools and resources that may not be readily available in their own country. This can be particularly useful for industries with high demand for skilled workers, such as technology, engineering, and healthcare. By partnering with a global Peo provider, companies can access a wider network of professionals and expertise to strengthen their competitive edge.

Additionally, International Peo services can help companies navigate complex international labor laws and regulations. Navigating the legal landscape of a foreign country can be challenging and time-consuming, but Peo providers can offer expertise in compliance and best practices to ensure that companies are operating within the bounds of local regulations. This can be especially important for companies looking to expand rapidly into new markets without the burden of setting up a legal entity in each country.

Moreover, International Peo services can also provide cost savings for companies looking to expand into new countries. Rather than investing in setting up a local entity, hiring employees, and managing payroll and benefits on their own, companies can leverage the infrastructure and expertise of a Peo provider to streamline their operations and reduce overhead costs. This can be particularly beneficial for startups and small businesses looking to test the waters in international markets without a significant upfront investment.

Another advantage of International Peo services is the flexibility they offer to companies in managing their global workforce. Whether it is hiring temporary workers for short-term projects or scaling up or down on staffing levels based on market fluctuations, Peo providers can offer the agility and responsiveness that companies need to adapt to changing business needs. This can be particularly valuable for businesses operating in industries that are sensitive to economic conditions or seasonal demand.

In conclusion, International Peo services can be a valuable asset for companies looking to expand their global footprint and manage their international workforce efficiently and effectively. By leveraging the expertise, resources, and infrastructure of a Peo provider, companies can tap into new talent pools, navigate complex legal landscapes, reduce costs, and increase flexibility in managing their global operations. As businesses continue to operate in an increasingly interconnected and competitive global economy, International Peo services will likely play a crucial role in supporting their growth and success.

Reference

  1. genesishrsolutions – https://genesishrsolutions.com/peo-blog/peo-industry/
  2. globalpeoservices – https://globalpeoservices.com/top-international-hr-trends-for-growing-companies/
  3. nhglobalpartners – https://nhglobalpartners.com/payroll-data/
  4. nhglobalpartners – https://nhglobalpartners.com/what-is-a-peo/
  5. velocityglobal – https://velocityglobal.com/blog/gig-economy-statistics/
  6. paychex – https://www.paychex.com/peo
  7. rippling – https://www.rippling.com/peo

Leave a Comment