Recognizing National Peo Week

Floor Speech

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Mrs. HOUCHIN. Mr. Speaker, I rise today to commemorate National PEO Week, which starts May 19 and ends May 25, 2024.

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 employ more than 4.5 million people.

PEOs play a critical role in helping businesses grow and thrive, during good times and bad. PEOs help their small business clients grow 7-9 percent faster, have employee turnover that is 10-14 percent lower, and are 50 percent less likely to go out of business than businesses that do not use a PEO.

PEOs help small businesses improve productivity and profitability and focus on their core mission. 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; and other benefits they might not typically receive as employees of a small company.

I know the value that PEOs provide. Before coming to Congress, I worked for a PEO and witnessed the positive impact they had on small businesses in my home state of 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.

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