The recent global pandemic has slowed the business down, but not entirely. International expansion is still the business goal as economies are rewinding. In contrast, America has been great at adapting best EOR practices and hiring the best global EOR services. But Europe and Asia provide solid pipelines for new clients and market growth.
Further, organizations find their brands expanding internationally and the intensifying need across sectors to access top talent globally. It is happening rampantly when the ‘work from Anywhere’ trend continues breaking down talent barriers. Thus, agile, compliant global HR and payroll operating models will continue to intensify, accelerating the global EOR services market size toward more than $1 billion by 2024.
A staggering number will easily be accomplished. But what is the future work?
What is next for Best Global EOR Services?
While companies are confirming that the global EOR services enable HR with greater agility in supporting international strategies, its ability to transform operations is less impactful at this stage. It is due to a need for more digital maturity. It also accounts for narrow scope, low volumes, short durations, and temporary/contract nature inherent to the best global EoR services model.
But technology is changing the game. In the coming 12 to 24 months, differentiation in the space is commonly centred on the volume of entities under vendor control and in-country expertise and the overall customer/worker experience. Therefore, increased vendor investments in maturing ( training), developing, and offering digital enablers and capabilities, including mobile-first design, deeper process automation, infusion of AI, and analytic insights. Therefore giving the same level playing field concerning traditional employees.
As the solution gets traction, we expect to see a more profound focus by EOR service providers in cultivating technology-enabled solutions. But gradually, it will take shape as providers seek to fill the white spaces within offerings and extend client value beyond the service offering.
The EOR service providers are in hyper-growth mode and investing in advancing the capability of technology and services. I still need clarification about the future of the best global EOR services. Let’s talk about the market trends.
Market Trends for the Best Global EOR Services
The best global EOR services arrange visas for the employee to avoid any delay. At the same time, they are providing legal and registered provincial-compliant payrolls to employees in other countries. The main difference in comparing EOR with PEO is that EOR helps hire employees internationally while PEOs cannot.
The best global EOR services manage employee payments and deal with employee taxes, benefits, insurance, visa applications, and operations dealing with human resources. According to recent trends, North America holds the largest market share in global EOR services, approximately 43%.
The above market analysis report is based on high data integrity and research, which can help companies achieve a strong market position. The EOR services provide many opportunities to the companies, therefore helpful in outsourcing human resource functions. The EOR service providers assist clients in achieving extraordinary growth in their respective businesses and companies.
We have curated this blog to suggest an employer of record services for their business. It has a reputation and geographic exposure and offers employee benefits, technology, and good servicing models. The EOR will provide various advantages to clients for expanding the business. The services are budget-friendly as well as time-saving and facilitate employee onboarding.
But, you will not just put your money on any global EOR services. So, how do we ascertain one? First and foremost would be to check the success of the business activity. To get more knowledge, read the following para.
How to Compare the Best Global EOR Services?
When evaluating EOR services, the first thing to consider is the depth of regional regulation and the range of global HR services. It comprises compensation and benefits management, recruitment, and taxation. At the same time, deal with local subsidiaries in the nation where you wish to recruit talent.
If not, you can find yourself with employees working for unidentified third parties where you will have zero control and supervision over the employment standard. What should be my next strategy when selecting the best global EOR service for my business?
Strategies for selecting the Best Global EOR service
The ideal EOR service provider will provide integrated HR services, including compensation estimates, hiring, payroll clearances, perks, city taxes, and more. IP protection and security, which include data protection and accountability, are both crucial. Therefore, look for these qualities when selecting one for the business.
To add more tips, you should be aware of EOR behind the scenes, for example, how they manage affairs and what customer experience they provide your employees. After all, the EOR service provider is an extension of your company and should uphold the reputation of your business in the job market.
To ensure that staff members feel valued and integral, a great EOR will prioritize their experience. Further, we have some FAQs to enlighten on Global EOR services.
Nine best Global EOR services
Remofirst
A software platform and EOR provider provides international payroll and compliance for global teams. It will hire employees in places where they don’t operate legal entities. With Remofirst, companies can legally hire and pay talent in 150+ countries without any additional entity cost.
Along with international payroll, the company provides invoice and global benefits management, including insurance and time-off management. The EOR assistance also includes support with obtaining visas and immigration documentation. RemoFirst can even help you provide equipment setups like laptops and other hardware devices to your global employees in other countries.
The HR professionals and legal experts ensure operations are always compliant with evolving global regulations, and the customer support team is always available 24/7.
Founded in: 2021
No. of Employees: 50-100
Locations: 150+ countries
Core Services:
- Employer of Record (EOR) Services in 150+ Countries (best price in the industry)
- International Contractor Payments
- Global Payroll and Invoice Management in local currencies
- Global Benefits Management (Insurance, Time Off, etc.)
- Equipment Provisioning in 150+ Countries
- Global Employee Support with a dedicated single point of contact
Features:
- Global team in one single invoice.
- Employees are getting paid in local currencies.
- RemoHealth plans, which include healthcare in 150+ countries.
- Visa and work permit support in 65+ countries.
Clients: InDrive, Microsoft, Labster, Mastercard, ZocDoc
Pricing: It starts from $199/mo – the best price in the industry – and all clients receive a dedicated account manager as their single point of contact for support.
DEEL
The above service company offers Employer of Record Service, which hires talent worldwide on your behalf. With Deel as your EOR service partner, you don’t have to worry about opening a separate legal entity because Deel benefits from a vast global infrastructure in more than 100 countries.
It means you can recruit fresh talent from any part of the world. The company will handle the onboarding process and ensure compliance with laws specific to wages, termination, etc. With a simplified payment process at your service. Deel will handle complex tasks, taxation, benefits calculation, pension management, etc., with the help of experts.
Founded in: 2018
No. of employees: 1001-5000
Location: Worldwide (100+ Countries Approx)
Core Services:
- Hiring talent globally
- Running payroll globally
- Visa support
- Compliance with region-specific laws
Features:
- Automated Invoicing
- Automate HR Workflows
- Get tax, accounting, and legal support
- It handles benefits, tax deductions, pensions, etc.
- Hire contractors globally
Clients: Change.org, Forever 21, Shopify, Reebok, Notion, Subway.
Price: Deel charges nothing for companies with less than 200 employees. Service for contract management starts at $29, whereas service for EOR management starts at $ 599/ month.
MME
MME helps companies equip technology, local expertise, and EOR services to maintain a good status in the global market. The company prides itself in assisting numerous clients by hiring and paying employees. They provide intelligent and efficient payroll onboarding process management to clients.
They also have centralized best global EOR services to provide clients with deep insight into the workforce costs for making data-driven strategic verdicts. It offers excellent EOR services for expanding in the international market.
Founded in: 2008
Number of Employees: 1000 – 5000
Locations: primarily Indian subcontinent.
Core Services:
- Global Managed Payroll
- Global Outsourcing
- Global EOR
- Global HR Consulting
- Global HR Outsourcing
- Payroll Compliance
Features:
- The Global employment guide, like MME, offers fast-growing companies managing payroll for thousands of international employees.
- MME has profound local experience that ensures HR benefits are operated successfully.
- They empower company success by providing more innovative, effective payroll, recruiting, effort, cost management, and more, with over 900 customers and 15 global branches.
Pros:
- It helps you maintain a work-life balance by offloading tasks from your plate.
- Excellent workplace culture and employee benefit facilities.
- Systematic and organized professional work experience.
Oyster HR
Oyster HR allows you to hire and pay talent from 180 countries worldwide. In this service, you will get a global employment platform that streamlines paperwork, HR, and compliance-related aspects of recruiting internationally. HR teams also access Oyster’s in-house experts, who will simplify the payroll, tax, and benefits system functions at your behest.
Oyster HR helps in the quick onboarding process. It will help you stand apart from other global organizations by facilitating seamless country-specific benefits packages and payments that can be on time on top of local currencies.
Founded in: 2020
Number of Employees: 101-250
Locations: Worldwide
Core Services:
- Hire Employees Globally
- Hire Contractors Globally
- Global Payroll Management
- Global Compliance Assurance
- Payroll management in more than 180 countries.
- Workflow automation.
- Streamlined paperwork and communication for a faster onboarding process.
- Simplified invoice processing.
Pros:
- The service supports payments in 120 countries.
- Global compliance and protection.
- Country-specific insights are actionable.
Cons:
- Expensive.
Clients: Lokalise, Pacific Institute, Paysend, Lantana, and Juno.
Pricing: Contractor starts at $29/contractor/month. Employees start at $599/employee/ month. On top of this custom, a plan is available.
Rippling
Rippling helps you in boarding international hires with every product within minutes. It can pay your contractors and workers worldwide without the hassle of transfers and conversions. The platform instantly files taxes on global payroll for employees worldwide.
Global payroll software also syncs bonuses, deductions, and time-offs with the payroll. With the available software, you can build custom workflows quickly. The software will automate all sorts of administrative tasks. For instance, you can set an automation that results in automatic payments of bonuses when the time comes.
Founded In: 2016
No of Employees: 1001-5000
Location: Worldwide
Core Services:
- Global Workforce Management
- Access and Approval Management
- Policy Management
- PEO Services
Features:
- Design worldwide and country-specific government policies.
- Automation of payroll administration
- Filing taxes globally.
- Single GL integration for global spending.
Clients: Beam Dental, Superhuman, Compass Coffee, M9
Price: The price starts at $8/month/user.
Remote
Many businesses rely on the best global EOR services that assist them in hiring employees across the globe. Remote provides exceptional EOR solutions in many countries to help clients globally in a legal manner in foreign lands. Employers of record companies include advisory services for organizations or companies that wish to broaden their market reach.
It is the right destination for availing of the best global EOR services as it provides worldwide infrastructure and the best customer experience. We will also ensure to maintain a fair price for all market services. They secure client business and employee data with proper security and compliance.
Founded in: 2019
Number of Employees: 500-1000
Locations: Assendelft, Belgrade, Berlin, Bishkek, Brussels, Buenos Aries, Cape Town, Christchurch, Craiova, Dublin, Ghaziabad, Helsinki, Herceg Novi, Istanbul, Jakarta, Jerez, Kenya, Krakow, Kretingsodis, Lagos, Lahore, London, Medellin, Melbourne, Paris, Portugal, Praia, Queretaro, Quezon, Quito, Riga, Riyadh, Rome, Santiago, Sarajevo, Seoul, Singapore, Sofia, Stockholm, Sao Paulo, Taipei, Tallinn, Tegucijalpa, Thessaloniki, Toronto, Trou D’eau Douce, Denver, San Francisco, Lubbock, Vienna, Windhoek.
Core Services:
- Remote Jobs
- Payroll services
- EOR
- Global Tax and Compliance Management
- IP protection
- Automated Payments
Features:
- It has opened vast opportunities for many companies worldwide to hire talent.
- It entrusts companies to pay and manage full-time contractual employees.
- It provides best-in-class global employment solutions for employees.
Pros:
- Intellectual property protection.
- Industry-leading security.
- It doesn’t charge in percentage.
Cons:
- The compensation charge may go higher.
- Working with multiple companies can cause hassle.
Clients: BryantPark Consulting, Nearcut, On Deck.
Pricing: The EOR starts at $299 per month for an annual package, $ 349 per month for a monthly package, and the contractor management package is only $29 per contractor per month.
Airswift
EOR services speed up the market strategy and establish the company in a good position in foreign lands. Airswift provides the best global EOR services in around 60 locations worldwide. Airswift employs and manages workers for clients without the involvement of third-party providers.
It also works with international employees to get visas and work permits for a new region. It also offers payroll services that are bound by specific legal regulations. Airswift has over 40 years of experience assisting companies expanding internationally in multitudes of niches.
Founded in: 1979
Number of Employees: 500 – 1000
Locations: Accra, Al Khobar, Auckland, Australia, Baghdad, Baku, Bangkok, Bogota, Buenos Aries, Calgary, Chengdu, Copenhagen, Dakar, Dar Es Salaam, Doha, Fahaheel, Georgetown, Ho Chi Minh City, Houston, Indonesia, Kampala, Kazakhstan, Kuala Belait, Kuala Lumpur, Luanda, Manama, Manchester, Maputo, Mexico City, Milan, The Hague, United Arab Emirates, South Korea, Singapore, Russia, Port of Spain, Rio De Janeiro, Houston.
Core Services:
- Talent Acquisition
- EOR & Payroll
- Global Mobility
- Managed Solutions
- Consultancy
Features:
Airswift provides workforce solutions for infrastructure and energy industries. They offer solutions to hire top talents to complete projects quickly. It has a global team of 7000 dedicated professionals from 60 nations. Therefore, it helps them achieve goals and ethos and represents what they value as an organization.
Pros:
- Work with multiple clients, therefore, vast experience.
- Have more than 40 years of experience and is regarded as an industry leader.
Cons:
- No control over performance reviews.
- Immersive work experience.
Clients: Chevron, ExxonMobil, IIA, Inter Pipeline, Teekay Shipping.
Innovative Employee Solutions
It offers global workforce solutions to talented employees around the world. Clients can build international bridges with proper EOR services for hiring fresh and budding talent from around the globe. They have helped many organizations expand globally in 150+ countries by quickly hiring and onboarding talented employees. It offers various contingent workforces without any viable threats. It maintains payrolling and HR services.
Founded in: 1974
Number of Employees: 1000 – 5000
Locations: San Diego, California
Core Services:
- Payroll
- Human Resources
- HR Administration
- Employer of Record
- Back Office Services
- Agent of Record
- Benefit administration
Features:
- Clients receive the best customer service by working with Innovative, who are efficient and responsive to queries.
- The goal is to keep businesses adaptable and proactive and explore digital employee engagement services.
- The focus is mainly on payrolling and independent compliance services.
Pros:
- Flexible schedule.
- Healthy cultural environment.
- Uplevelled global workforce solutions.
Cons:
- The software is still in its baby stages and comes with technical glitches.
- The management still needs hand-holding.
Globalization Partners
The service offers world-class employer-of-record software to clients. They are ready to help clients and team members across the globe at any given time. You can consult with experts to solve EOR-related queries or problems.
It offers industry-leading payroll precision. Clients can hire talent within minutes rather than hours with the help of an automated platform.
Founded in: 2012
Number of Employees: 500 – 1000
Locations: Amsterdam, Auckland, Bangkok, Bicester, Bogota, Boston, București, Buenos Aires, Canada, China, Ciudad De México, Copenhagen, Dubai, Dublin, Geneva, Ho Chi Minh City, Indore, Jakarta, Kuala Lumpur, Lima, Lisbon, Luxembourg, Madrid, Oslo, Paris, San Juan, São Paulo, Seoul, Singapore, Stockholm, Sydney, Taipei, Umhlanga, Vantaa, Wan Chai, Warsaw, Zagreb
Core Services:
- Compliance
- HR
- International Business
- Global Business Expansion
- International Legal Expertise
- Global Employer of Record Services
Features:
- It ensures 98% customer satisfaction and has a market reputation of onboarding teams in 187 countries.
- They handle currencies of 180 countries in addition to Cryptocurrency and Venmo
- The goal is a future where the finest talent has access to the top employers, irrespective of jurisdiction.
Pros:
- Local compliance and tax support.
- Payroll processing in 180+ countries.
- Customer service is mind-blowing.
Cons:
- It has a complex pricing structure and is on the costly side.
- No scope for upskilling.
Clients: Zeeto, Novamex, OneStream, Ecolex, monday.com
Conclusion
The article has discussed the best global EOR services, which include analysis based on company features, location, number of employees, core services, etc. The study will help clients select the best EOR services per their needs. You can easily compare the correct fit for your company.
Apart from all this, we do need a disclaimer. The article is based upon research that can save you ample time in finding the best global EOR services to boost enterprises. The employer of record is an ally in fulfilling payroll & tax purposes to perform every task under a registered and legal agreement. Global EOR services will help you level the company’s market repertoire.
FAQs
What are EOR services?
Answer: EOR is the legal employer of the client’s new workforce. The EOR will pay employees while the client handles the day’s activities. EOR also deals with payroll & tax services, visas, sponsorship applications, and other benefits.
Q #2) Why should you use an EOR for your business?
Answer: An EOR performs all tasks with dedication and responsibility involving employment. Thus reducing the client’s to-do list of tasks as EOR is bound by specific laws and regulations to function. Hiring an EOR is the best decision for startup and midsize businesses.
Q #3) Does an employer of record function the same as a PEO?
Answer: EOR is an organization that will manage all employee-related tasks for small to midsize and even large MNCs. It regulates and streamlines various HR tasks like payroll, taxes, compliance, and benefits administration. In comparison, the PEO service provider handles HR outsourcing services to small and medium-sized businesses.
Q #4) How much does EOR cost the company?
Answer: There are two pricing models; one is flat charge models, and another is percentage arrangements. Any business wishing to collaborate with EOR should avoid possible partners that bill a percentage, as the prices can invariably increase.
Percentage-based EORs deter client firms from providing employees with pay. To offer an individual, you must pay a portion to another party when delivered a percentage.
Q #5) What is the primary difference between EOR and staffing agencies?
Answer: The staffing agency’s main concern will be recruiting talent for the company. The EOR is in charge of all HR-related duties. In contrast to EOR, you don’t have to worry about taxes, payments, and other responsibilities if you use a hiring agency.
EOR also complies with several aspects of your company, including admin, payroll, taxation, and much more. Since they are not staffing agency employees, they will not take on your HR obligations. They will not take responsibility and solely concentrate on supplying workers.
Q #6) What is the primary difference between EOR and a payroll company?
Answer: Businesses can hire, manage, and compensate the personnel with the best global EOR services. So, the large portion of HR responsibilities involved in managing overseas professionals will be handled by experienced staff. Payroll businesses provide the best value market services.
However, payroll concentrates on payroll software. Although they can help with HR responsibilities, their KPI is frequently payroll-related.
Q #7) Employer of Record vs. PEO – What is their primary difference?
Answer: The main difference is establishing a business in another nation and hiring employees through EOR. Nevertheless, PROs mandate your local corporate structure in the geographical country or area. EOR can offer all the HR services, which include compensation and benefits administration, but on paper, your PEO will always remain the regional employer of your employees.
With the above Faqs, you can understand EOR services‘ functions. So, let’s jump to the real deal, which describes the nine best global EOR services.
