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EOR services enable organizations to hire and pay employees in another country without setting up a local entity.
Hiring from the global market is daunting for small businesses and startups because of their limited resources.
EOR serviceshelp small organizations navigate the complexities of global hiring, payroll management, and compliance.
These services act as the legal employer of record, sparing startups from establishing legal entities in different countries.
By handling crucial tasks like global payroll and benefits management, EOR reduces administrative burdens and risks.
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It manages payroll, taxes, and compliance to ensure the business complies with local regulations.
It automatically collects paperwork and stores it in one place to avoid confusion and delay.
Established in 2014, US-based Deel has over 35,000 clients worldwide.
It localizes the entire employee lifecycle with local leave policies, salary benchmarks, and termination practices.
It operates in more than 185 countries, helping businesses hire, manage, and pay.
They have a generous team that guides the businesses through the culture and laws of employment jurisdiction.
In addition, the platform helps with time tracking and payroll management across different regions.
For a more detailed analysis, just read ourVelocity Global Review.
Based in Portugal, Remote started its journey in 2019.
It has more than 1,000 employees and became the fifth billion-dollar company in its country in 2023.
It also performs employee time-off management, contract change, and offboarding tasks.
US-based company Oyster was established in 2020.
It has its team members distributed in 60+ countries.
It prioritizes 100% local compliance with a dedicated team of experts.
It offers complete visibility into the workforce so companies can control their costs and optimize their hiring strategy.
Established in 2016, Papaya Global is one of the Forbes Cloud 100 companies.
It has 21 offices worldwide and 2000+ clients.
Launched in 2018, Horizons has its remote team distributed across 35+ countries.
It lets companies hire and manage employees from anywhere globally from a single platform.
Companies can easily hire people from different locations using its standard country-specific contract templates.
Berlin-based company WorkMotion started its journey in 2020.
It partners with HiBob, Jobgether, Veremark, Launch Global, and Hi People.
It is a centralized HXM technology platform that offers global benefits and payroll administration features.
Atlas was founded in 2015, introducing the worlds first 100% direct EOR model.
It has 500+ global employees.
Safeguard Global was launched in 2010.
It has over 1,500 clients worldwide and more than 1,800 employees in 35 countries.
Plane started its journey in 2015 as Pilot.
In 2023, it changed its name to Plane and operates as a remote-first company.
What are the Key Benefits of Using EOR Services for Small Businesses?
EORs free small businesses from the hassle of establishing a legal entity in a foreign country.
These also ensure compliance with complex labor laws of the different countries, reducing the risk of costly penalties.
EORs can also manage administrative tasks like payroll processing, employee benefits, time tracking, and onboarding.
How Can EOR Services Help Startups With Limited Resources?
EOR services are highly beneficial to startups with limited resources.
What Should Small Businesses Consider When Selecting an EOR Provider?
Thus, they can choose a provider that aligns with their business goals and budget.
Are There EOR Services Specifically Designed for Startups?
Yes, there are EOR services, such as Deel, that offer tailored packages to startups.
Their flexible pricing helps startups navigate initial growth challenges while ensuring compliance.
How Do EOR Services Streamline Hiring and Compliance for Small Companies?
A small company usually has a limited number of team members.
EOR services streamline their hiring process by handling recruitment and onboarding.
What Factors Impact the Pricing of EOR Services for Small Businesses?
If a company chooses to get additional services, it might have to pay extra charges for them.
Hence, small businesses should understand all factors to create a budget for EOR solutions.
Above all, a scalable and compliant EOR is the right option for SMBs and startups to support growth.
