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Payroll Services – Industry Analysis, Statistics, Trends, and Forecasts

SIC 8721  |  NAICS 541214

The following guide to industry research and analysis provides sources for industry statistics, trends, and forecasts, financial ratios, salary surveys, and more.

See the following sections listed below to view available resources by category:

For guides to other industries, see our index of over 400 industries.

Industry Analysis, Statistics, Trends, and Forecasts


Payroll & Bookkeeping Services  (view report)
Benefit Administration Services  (view report)
Comprehensive industry research reports provide in-depth industry analysis and five-year forecasts, with special focus on the underlying structure and external forces and relationships that affect industries and their performance. Topics addressed in the reports include:
Sample industry research report and selected industry statistics including market size, five-year average growth rate, number of businesses, and total employment are available free online.

APA
Publications available from this trade association include:

PAYTECH Magazine
https://www.americanpayroll.org / digital-issues
Monthly trade journal provides news and information for APA members, with topics covered in recent issues of this publication including virtual workforce management, disaster preparedness, HR trends, on-demand pay, systems security and data privacy, navigating mergers and acquisitions, preventing fraud, and year-end challenges and best practices. Current and prior issues are available free online.

Survey of Salaries and the Payroll Profession
https://www.americanpayroll.org/
Biennial publication provides a comprehensive overview of the profession, with topics covered in the report including average current and starting staff salaries, staff composition, education, and training, methods used to input data, processing frequency, delivery methods, department recordkeeping and processing functions, in-house processing systems and software, and outsourced services providers.

Delloite Global Benchmarking Survey Report
https://www.americanpayroll.org/
Global benchmarking survey provides an in-depth multi-level look at trends shaping the payroll of the future, with topics covered by the survey including demographics, operations, outsourcing, accuracy, efficiency, and metrics, service delivery, next-gen technology, and employee experience, and survey results reported by industry, region, and employee population size. Report can be viewed free online.


GPMI
Global Payroll Magazine
https://www.gpminstitute.com/  Select issues from "Publications" drop-down menu

Monthly journal provides news and feature articles focused on helping payroll professionals manage the challenges of operating on an increasingly global scale, with features in each issue including the "Country Spotlight" which focuses on a different country each month and the "Professional Spotlight" which features insights from leading professionals. Current and prior issues are available free online.


NelsonHall
Payroll Services
https://research.nelson-hall.com/

Comprehensive report provides an in-depth analysis of the global market for this service sector, with topics addressed in this report including changing market dynamics, customer requirements, market size and growth, vendor market shares, service offerings and targeting, service delivery, and vendor challenges and success factors. Key findings and highlights from the report are available free online.


Technavio
Payroll Outsourcing Services
https://www.technavio.com/

Market research report provides a detailed analysis of this sector on a global and regional basis, with information provided in the report including market size and forecast by application (e.g., mid-market, national, international), product (e.g., hybrid, fully-outsourced), and region (e.g., Asia-Pacific, Europe, North America, South America, Middle East-Africa). Detailed table of contents is available free online.


BizMiner
Payroll Services Market Analysis
https://www.bizminer.com  Search for "541214"

Market analysis report provides industry statistics for a user-defined area on a national, state, county, metro area, or zip code level, with data provided including number of companies, market volume and sales trends, average company sales, sales per employee, staffing and employment trends, average employee wage, and business start up activity and failure rates. Sample report can be viewed online.


More Resources
For more industry research reports and other resources, see the following resource guide.

Financial Statements and Financial Ratios


BizMiner
Industry Financial Ratios
Payroll Services
https://www.bizminer.com  Search for "541214"
Five-year financial statement analysis reports provide income statements, balance sheets, and key industry financial ratios for companies of all sizes, with financial data available by sales size range on a national, state, and metropolitan area level including:
Sample reports on a national and metropolitan area level are available free online.

IBISWorld
Payroll & Bookkeeping Services
(see links for individual reports)

Financial benchmarking section of this report provides an analysis of industry income and expenses as a percentage of revenues for firms that provide payroll and bookkeeping services for clients on an outsourced basis, with tasks involved including collecting payroll data, processing paychecks, paying deposits, and remitting taxes withheld and other deductions to tax agencies and plan administrators.



Compensation and Salary Surveys


APA
Survey of Salaries and the Payroll Profession
https://www.americanpayroll.org / sample-survey-report

Biennial survey provides average current and starting base salaries for seventeen job positions, with salary data reported by job position for all respondents and for respondents with CPP certification for each of the following categories: practitioner/administrator, management, technical/professional staff, and systems/information technology. Sample report from previous survey can be viewed free online.


PayScale, Inc.
Payroll Services
https://www.payscale.com/

Free online service provides salary, bonus, and hourly wage data for job positions in this sector such as operations manager, account manager, implementation manager, implementation supervisor, tax specialist, payroll specialist, and customer service representative, with employers for which salary or hourly wage rate data is provided including Automatic Data Processing, Inc. (ADP) and Paychex, Inc.



Business Valuation Resources


BVMarketData
www.bvresources.com
Private company sales transaction data for over 800 industries.



Related Industries:
Accounting Services
Management Consulting Services
Medical Billing and Coding Services
Tax Preparation Services

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