Definition
Everything you pay through the PEO: admin fees, benefits, workers' comp, payroll taxes and any setup or exit fees.
Total cost of employment explained
The right comparison is total cost under the PEO against what you'd pay on your own for the same benefits, insurance and taxes, plus the time and software you'd no longer need.
Where Total cost of employment comes up
Also referenced in: Percentage of payroll pricing · Bundled pricing · RFP