Florida Underwriter has more than once said the Professional Employer Organization (PEO) industry has "long been a cornerstone of Florida's economy." Like the polished granite beneath the stone, brick, and polished stained glass of a new sanctuary, it is an awesome compliment and humbling responsibility. Editor Michael Adams has described the PEO cornerstone in terms of the industry's growing client companies, rising worksite employee count, and expanding industry gross payroll. But these numbers represent the shine of the granite. The strength of the PEO cornerstone role comes not from the numbers, but from the true value and services of a new PEO industry.

The hard workers' compensation markets of 2001 brought painful memories and valuable life lessons. The PEO industry, like other large employers, faced limited carrier availability, restricted capacity, and dramatic rate increases. PEOs quickly learned that clients were easily attracted by the lure of cost savings easily left for the same reasons. PEOs also learned there was more to their business model than workers' compensation. Some PEOs were sold, others merged, and some simply chose to retire. Far more PEOs took dramatic actions to ride out the storm, to correct their path, and to chart a new course.

Today, the news is not about calm comp waters or bright blue skies. It is about a changed PEO industry!