Is your organization going global? Are you planning to go beyond the restrictions of boundaries and bring in talents from around the world? Then an Employer of Record (EOR) can aid you in making these goals a reality.
But before that, let us analyze the need for an EOR and the difference it can bring to our work.
What is an Employer of Record (EOR)?
The global work scenario has undergone quite a change in recent years. It is no longer about companies that are looking for expansion. Even employees today love to explore opportunities outside their comfort zone and beyond geographical boundaries.
So, what it means is that globalization is at its best, especially, let's call it- in the post-pandemic era. Under such circumstances, it is not just the start-ups and tech industries, but several companies are looking for ways to enhance their hiring process and bring in suitable talents. Several aspects, such as paperwork, adherence to local laws and regulations, immigration policies, and many more, can act as a deterrent.
The Employer of Record (EOR) can help tackle most of these problems. To define an EOR:
Employer of Record (EOR) is a third-party organization that assists companies by looking into the paperwork for employees working in different locations.
The EORs handle everything from HR-related activities to local paperwork, and the EORs handle several other aspects.
What role does an EOR play?
The EORs deliver various services to the organizations, depending upon their requirements. Some of the most significant roles that an EOR plays include:
So, when the EOR handles the management of a distributed employee network, what is your role in it?
As an organization availing the skills and services of the distributed employee network, you are responsible for handling the day-to-day work of the employee. It is up to you to provide work, do performance reviews, and allocate tasks to engage the employees from your end.
Hence, when the EORs can take care of the paperwork and management side of employees, you, as an organization, can enjoy the benefits of their skill sets. And that brings us to the advantages of employing an EOR company as a partner for your business.
Why hire an Employee of Record (EOR) organization?
Even when globalization is at its best and the term has become outdated with the things happening, hiring global talent is still challenging. So, if your company plans to expand or recruit someone sitting on the other side of the world, you come up with multiple roadblocks.
An EOR can make things easier by allowing you to go ahead with that recruitment without worrying about the formalities. While that's one of the benefits and the essence of what EORs can do, there are other hidden advantages to hiring such an organization.
Below are some significant benefits of partnering with an EOR:
When do you need an EOR?
You need to partner with an EOR if you:
How to set up a partnership with an EOR?
There are several Employee of Record organizations operating around the world. The trick is to find the right one to make it a profitable and complementary partnership.
As an EOR, there are many notable organizations that bring a lot to the table, thereby making things easier on the employee front. Some of the aspects that you need to look for in an EOR are:
While an EOR can save a great deal of time, money, and effort for the company, it needs to complement the working style of your organization. Look for an Employer of Record organization that can help you ease the challenges of global expansion with the right amount of guidance.
EOR partners of Notchup:
At Notchup we help you find and build the technical team that is required to build your business. Sometimes you find that the best talent might not be available in a market where you have an enity in place – that is when an EOR provider will be needed. With Notchup you get access to a network of EOR providers which will help simplify the methods to make hiring quicker and easier.
Below is a list of partners who make a significant contribution to realizing your international hiring and expansion, and as a Notchup client you will have access to a special EOR partner discount through our platform.
Deel
Deel is a global platform that helps businesses hire international talent or teams across boundaries. Deel helps hire full-time and independent contractors from over 150 countries by adhering to all compliance and local labor laws.
www.deel.com/partners/codemonk
Oyster
Oyster is a global employment platform and works towards making borderless recruitment easier for both employees and organizations. They aim to help organizations build brilliant teams without limiting themselves to factors like geographical location. The fully-distributed team of Oyster is available in 60+ countries to simplify global employment.
Omnipresent
Omnipresent helps businesses build the best teams on earth. Through tech smarts and always-on expert support, it enables ambitious companies to onboard and retain the best people - wherever they do their best work.
Www.Omnipresent.com/partners/codemonk
If you are a company looking to build out your international tech team, please reach out to partnerships@notchup.com today to get started.
