Employee Leasing, PEO, Payroll Or Leasing – What's in a name

In a world where it is increasingly common for business owners to outsource their payroll, insurance, workers' compensation, and HR for guys like me, a more appropriate question is "why all the names?" When all three terms of this license properly describe exactly what we do.

That's right. You can choose your favorite of the three, and use the latter as a definition, and the third for … Well, I think, to dismiss! This confuses prospects PEO, PEO reference sources (insurance agents and accounting), and if you're reading this that probably confuses you. (It is likely that you are familiar with one of three terms, and the other two seemed kind of cousins half later, right?) Now you know you're in good company.

Therefore, after clarifying the situation for you, you can now use whichever term you prefer to describe my field. (We PEO-owners and fans can only hope that good!) For the traditionalist, the term "worker> Leasing company "is what the founding fathers used when the industry began in the mid 80s.

The simultaneous may choose to contact us with the term "PEO", which is the term most commonly used and most searched term on Google for my industry. (It is worth remembering that "PEO" stands for "employer, the professional organization" and that our industry association and lobbyist is NAPE).

The progressively sharper might prefer the term "leasing company payroll, which only recentlycame into vogue.

Not to digress, but the PEO brokers offer 3 same ambiguity name, too. (PEO brokerage firms are the companies that represent different PEOs different. The relationship is similar to the way insurance agencies represent a large number of carriers).

PEOs and PEO broker a bit 'informally agreed some years ago to phase out the term "employee leasing." In theory, it made sense at the time to simplify the verbiage, favoring the term used withinNAPE's name. In practice, most workers in the industry, myself included, agree that it is too risky in terms of marketing to abandon the old term, although it is often relegated to parentheses, next to the PEO term.

In closing, you are always welcome to check the terms HRO, ASO, BPO and if you want to be confused all over again.

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