THE PEO INDUSTRY FOOTPRINT: NAPEO’S 2023 WHITE PAPER

BY Chris Chaney

Editor, PEO Insider
NAPEO

November 2023

During our Annual Conference and Marketplace last month, we unveiled the findings of our latest white paper. This year’s study is the twelfth issue in the series and was conducted by noted economists Dr. Laurie Bassi and Dan McMurrer of McBassi & Company. Titled PEO Industry Footprint 2023, the study provides an updated look at the size and scope of the PEO industry.

Overall, at the end of 2022, there were 523 PEOs in the United States. They employed a total of 4.5 million worksite employees (WSEs), who were paid a total of $308 billion. These employees worked for over 208,000 different PEO clients, a count that represents 17 percent of all businesses with between 10 and 99 employees. Each of these numbers represents an increase from the 2020 findings reported in our 2021 NAPEO white paper. Taken together, the findings indicate a dynamic industry that continues to experience a very solid rate of growth. You can read the entire study at napeo.org/whitepaper.

Past white papers have focused on analysis of PEOs and their relationships with clients. Topics have included PEOs’ impact on client organizations (higher business survival rates, higher growth rates, lower employee turnover, and greater resilience throughout the difficult first year of the pandemic economy), as well as industry-related data (including the number of PEOs and the aggregated size of the industry).

All previous white papers are available at www.napeo.org/whitepapers.

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