Here is the text of her address:

COMMEMORATING NATIONAL PEO WEEK

HON. ERIN HOUCHIN
of Indiana in the U.S. House of Representatives – Monday, April 17, 2023

Mrs. HOUCHIN.

Mr. Speaker, I rise today to commemorate National PEO Week, which starts May 21 and ends May 27, 2023. National PEO Week will celebrate the important contributions of the professional employer organization (PEO) industry, which provides payroll, employee benefits, compliance assistance, and HR services to hundreds of thousands of small and mid-sized businesses that employmore than 4 million people.

PEOs play a critical role in helping businesses survive and thrive, particularly during challenging times. In the dark days of the COVID pandemic, PEOs ensured that that their clients stay afloat by securing PPP loans and loan forgiveness, managing employee leave, and applying for available tax credits. In fact, businesses that partner with a PEO were nearly 60 percent less likely to have permanently closed than those that did not use a PEO during the pandemic.

PEOs help small businesses improve productivity and profitability, focus on their core mission, and grow. Through a PEO, the employees of small businesses gain access to important employee benefits such as: 401(k) plans; health, dental, life, and other insurance; dependent care; other benefits they might not typically receive as employees of a small company.

I can attest to the value of PEOs. Before coming to Congress, I worked for a PEO and saw firsthand the positive impact they had on small businesses in Indiana.

Mr. Speaker, I would like to congratulate the PEO industry for all they do to help our Nation’s small businesses and their employees prosper.

Congressional Record link is here.

Workers Quit Jobs at a Record Level in November – WSJ Click the button to “READ ARTICLE”.

The article state that “Workers have been quitting for higher wages, flexibility and other opportunities”. Also noted in the article was that smaller firms are finding it hard to compete with larger firms in the competition for workers. For decades thousands of small and medium sized companies have engaged a Professional Employer Organization (PEO) to get cost effective access to a full suite of employee benefits for their workers. Small and mediums sized companies that join forces with a PEO have a better shot at being a more attractive employment option for job candidates.

By joining a PEO small and medium sized businesses may have a better chance at winning the battle for workers.

If your company is considering a PEO, contact StaffMarket and we will assist you with understanding your best options.

According to a May 12, 2019 article in the Wall Street Journal:

Smaller businesses are having a tough time adding workers in today’s job market. Companies with fewer than 20 workers boosted head count by just 0.9% in April compared with a year earlier, according to Moody’s Analytics, which examined data from payroll processor ADP. That trails the 3.5% increase at businesses with 500 to 999 employees and the 1.8% gain at the largest companies. Roughly 17% of private-sector workers—or nearly 21 million Americans—work at companies with fewer than 20 employees, according to the most recent Bureau of Labor Statistics data.

Larger companies tend to pay more than small firms, and they are handing out bigger raises. Businesses with 500 to 999 employees boosted wages in the first quarter by an average of 5.3% from a year earlier, according to the Moody’s analysis. That compared with a 4.1% average pay increase at companies with fewer than 50 employees.

Small Business Can Level the Playing Field by Joining a Professional Employer Organization

As the competition for workers heats up, many small business owners and managers recognize that they need a cost-effective way to improve their ability to attract and retain employees. Companies that join a PEO gain the ability to offer a full suite of employee benefits to their workers without the internal overhead costs associated with obtaining and administering payroll, payroll taxes, workers’ compensation insurance, health insurance plans and supplemental insurance plans like dental, vision and disability insurance. While larger companies can offer those benefits to their workers, smaller companies may find they are outgunned in the battle for workers. Companies that join a PEO can even the playing field in the battle for workers and talent.