A Professional Employer Organizations (PEOs) manages all HR-related functions such as payroll processing, hiring employees, and other HR functions of other companies. The employee turnover ratio can be reduced considerably by employing the professional employer organization tool. PEOs allow organizations to focus on key result areas (KRA’s) and key performance areas (KPA’s) of the business, in order to generate profits.

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The global professional employer organizations market is expected to grow with a CAGR of 11.2% during the forecast period. Employees get benefited if an organization opts for PEOs, as they handle HR operations for various organizations and provide various facilities such as dental, health, and life insurance, retirement plans, and others.

However, the lack of control and security concerns related to employee information are some important issues related to the market and these may hamper the future demand. Moreover, professional employer organizations keep tracking changing rules, regulations, and labour laws for various industries, which is otherwise difficult and time-consuming for organizations. These advantages will further increase the future demand for professional employer organizations in the market.

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The market is segmented on the basis of deployment type, applications, and organization size. Based on the organization size, the market is segmented as small businesses, mid-sized businesses, and large businesses. Large businesses have largely adopted professional employer organizations, owing to benefits such as reduction in costs, saving time on HR services, and more time for concentrating on the core business functions.
Moreover, small and mid-sized businesses are also adopting professional employer organizations services, owing to globalization and the need for quality employees. In the year 2017, North America was dominating the market, owing to the presence of key players in the region. Moreover, the Asia-Pacific region is also expected to witness significant growth during the forecast period due to the increasing number of small and medium enterprises in the region. The small and medium enterprises in this region employ the majority of the workforce and therefore, professional employer organizations will be beneficial for them.

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