The National Association of Professional Employer Organizations (NAPEO)'s series of White Papers examine the PEO industry to help business owners better understand the economic impact and value of HR solutions provided by PEOs.
A recent study issued by NAPEO examined the impact of PEOs on their clients' overall business outcomes during the initial months of the pandemic.
“How PEO Clients Fared in the First Months of the COVID-19 Pandemic: A Comparative Analysis” found that business owners who worked with a PEO were:
- 119% more likely to have received a Paycheck Protection Program (PPP) loan.
- 91% less likely to still be temporarily closed.
- 60% less likely to have permanently closed.
With help from their dedicated client service and HR compliance teams, clients of PEOs like Engage PEO were more than twice as likely to receive PPP loans, with nearly all applications submitted successfully.