Today with more people working remotely from either their home, or from an entirely different continent, Employer of Record services are becoming more prevalent in the business world. Whether you are a small business located in a remote area, or a Fortune 500 company looking to expand into new territories, an Employer of Record (EOR) for international hiring could be a service worth looking into for your company.
If you are unfamiliar with the practice of using an EOR for expansion into another country continue reading below for more information.
Move Into Foreign Markets
If you are looking to hire employees from another country there is a lot of leg work to set up your business and still be compliant in local laws and regulations. Without months of research you would be at risk for breaking laws that you didn’t know existed, opening yourself, and your business to litigation. Additionally, if you are a small company and hiring minimal staff just to test the market, you may not have the resources to take the time to research the mountain of information on your own.
An EOR solves these problems for you in taking on the research and responsibility for compliance by acting as your administrator for your business. You are still in charge of your business, but they handle complex day to day human resource issues such as payroll and taxes amongst other duties. They will also understand the cultural nuances that will be important to local customs making it easier to manage your global operations.
Time Is Money
Save time by allowing the Employer of Record, or EOR by using pre established contacts and experts to help you grow your business when hiring talent local to the country of origin. Everything will be handled for you just as it would if you were there in the same building. Your EOR will act as your administrative assistant leaving you in charge of managing your employees while handling the mundane chores of human resources.
Risk Management
Your company will no longer have to deal with such issues as compliance risks. Technically they have your employees on their payroll and are in charge of such things like employee benefits. You will not have to deal with foreign holidays or paid time off. All disputes will be handled by your EOR for issues with policy disputes and employee complaints. They will also be handling any tax audits that come your way.
Peace Of Mind
Hiring an EOM can save you hours of stress and worry about the day to day issues along with the major problems such as tax laws and compliance. Your partnership with a reputable EOM means that you will have peace of mind when it comes to expanding your company in the global market. You will be hiring the best possible talent for your business model regardless of where they reside. International borders are no longer a barrier to hiring when you have an Employer of Record on your team.
