With September the 'back to school' month for most of us, what better time to learn all about EOR services and how they can benefit your business.
What is an Employer of Record (EOR)?
Just like the back-to-school rush, understanding what an Employer of Record (EOR) is can feel overwhelming. Put simply, an EOR, sometimes known as a PEO, helps to manage the hiring, onboarding and management of international employees, taking charge of tasks such as payroll, taxes, visas, employee contracts and benefits. By employing an EOR, businesses do not need a legal entity to operate in a foreign country, saving valuable resources and improving their time to market.
The benefits on an EOR
As an EOR manages your international hires, you do not need to set up a legal entity when you expand your business globally. Therefore, as we already touched upon, working with an EOR can save your business significant time, cost and resources when expanding internationally.
Meanwhile, as an EOR supports with employment contracts, hiring, onboarding and payroll, you can rest assured that you comply with international employment laws, taking liability from your shoulders and protecting you from the risks associated with non-compliance.
You can see some more benefits of EOR and PEO services in our previous blog.
When to use an EOR
Knowing when to use an Employer of Record can be difficult. Often, businesses want to keep control of their international employment out of fear of outsourcing such a key aspect of their growth. However, partnering with an EOR should be seen as an enhancement to your strategy, rather than taking away control.
Setting up a legal entity coupled with navigating employment legislation can make international expansion a near-impossible task. By working with an EOR, you can take this liability and pressure from your shoulders, meaning you can focus on more critical areas of your business growth while a PEO or EOR compliantly takes care of the rest.
Whether you are employing one employee abroad or setting up a whole international workforce, an EOR can be of great benefit to your international growth.
Why choose Leap29 as your EOR partner?
As with a new school year, expanding your business into new locations can feel like an exciting yet daunting new chapter. But, with over 20 years of experience working with businesses across a range of sectors including, Technology, Oil & Gas, Pharmaceuticals, Renewable Energy and Construction & Engineering, we can be the Employer of Record you can rely on to guide you through the next steps of your business expansion.
To find out more about our EOR services and how they can help your business growth, call our experts today on +01625 810796 or email [email protected].
