Insperity handles the payroll so you don't have to. The company provides an array of human resources services to small and midsized companies (employing between 10 to 2,000 workers) in the US. As a PEO (professional employer organization), Insperity offers payroll and benefits administration, workers' compensation programs, and personnel records management through its flagship Workforce Optimization product. It also offers what it calls "adjacent businesses" that include performance and expense management, employment screening, recruiting, and organizational planning services. Most of its client companies are engaged in the administration, financial, manufacturing, and computer services industries.
Insperity has nearly 50 Workforce Optimization sales offices serving about 25 US markets. Its business in Texas accounts for 26% of Workforce Optimization sales, while California represents its second-largest market, accounting for 17%. The company's long-term strategy is to operate approximately 90 sales offices in 40 markets.
Sales and Marketing
Insperity markets its services through various business promotions and a broad range of media outlets, such as television, radio, newspapers, periodicals, direct mail, and the Internet.
Insperity has successfully climbed itself out of the hole it fell into during the recession. From 2011 to 2012 its revenues increased by 9% while its profits were up by 33%. Its revenues reached nearly $2.2 billion, a new historic milestone for the PEO. The $40 million in profit it generated in 2012 was also its highest since the recession. The sizable growth was attributed to an increase in the average number of worksite employees paid per month as the US economy gradually picks back up.
Insperity's growth strategy has been built around acquisitions and the launching of new services. Although it did not make any acquisitions in 2012, it purchased HumanConcepts' OrgPlus desktop software product line, and a license for a Software-as-a-Services (SaaS) based version for $10 million in 2011. Targetd at small and mdsiZed businesses, OrgPlus develops and analyzes companies' organizational charts. The deal gave Insperity access to an additional 60,000 customers.
Throughout 2012 and 2013 Insperity launched additional Software-as-a-Service (SaaS) products designed to help with payroll processing and expense management.
Stadium Capital Management owns about 10% of Insperity's stock. No other stakeholder owns more than 10%.
Formerly called Administaff, the firm changed its name to Insperity in 2011. In the past, most notably during the recession, companies kept mistaking the company for a temporary staffing agency; it made the switch from Administaff to reflect its evolution from a PEO to a comprehensive business performance solutions provider.