The PEO industry is relatively young, a mere 33 years. The oldest company in the world that is still operating is Kongo Gumi, a construction business in Japan established in 578. There is a restaurant in Austria, Stiftskeller St. Peter, that opened its doors in 803, and a pub in Ireland, Sean’s Bar, that started up in 900. Now those are old industries.
Still, the relative youth of the PEO industry does not diminish the accomplishment of long-lived PEOs. We’ve all seen PEOs come and PEOs go, but more important, we’ve seen companies that have endured the ups and downs of the economy, the hard and soft insurance markets, and the constantly changing regulatory environment.
Despite the industry’s challenges, we see PEOs reaching the 10-, 20-, and even 30-year marks. In an industry that pretty much invented itself, with no road map or play book, companies are achieving longevity. Read on to learn the principles behind how eight PEOs have done just that.