What is EoR (Employer of Record)?
Employer of Record is a B2B service that allows companies to utilize the management of their employees’ payroll, compliance, and other HR-related tasks. An employer of record is responsible for all aspects of the employee relationship, from onboarding and payroll to compliance with state and federal labor laws. They also handle day-to-day HR tasks such as vacation time tracking, benefits administration, and disciplinary action.
Why is it good to use HR service platforms?
It can allow companies to quickly hire or expand operations in a foreign country while remaining compliant with local labor laws.
Who needs it?
Companies either do not have the resources or expertise to manage these tasks themselves efficiently or those who want to expand globally.
Can we use it for expanding Globally?
YES! Employer of record services also provides flexibility for companies hiring or expanding in a foreign country. By outsourcing their employees' management to a provider familiar with local labor laws, they can save time and money while staying compliant.
What are the main benefits?
Save on costs associated with hiring additional staff or training existing employees in HR responsibilities.
Reduce liability and risk associated with employee management. As the provider is responsible for all aspects of the employee relationship, they are held accountable for any mistakes that could put the company at legal or financial risk.
How to choose an EoR provider?
Do they know the countries that you are looking to hire into?
What is the full pricing?
Who manages the employees on a day-to-day basis?
Do they have a full-service solution to manage compliance, HR, payroll, and benefits? If you want to hire permanent employees, you will need a total solution.
Are they trustable?
Do they provide other workforce management solutions?
