Employer of Record services, also known as global employment services, offers a strategic solution for employers looking to expand their operations beyond borders.
With EOR services acting as the legal employer for your overseas employees, it will handle your payroll administration, tax compliance, and HR responsibilities. While your company controls day-to-day work tasks and management, the EOR company handles all legal and administrative aspects of employing foreign talent.
How does the employer of record services work?
When an organization wants to hire employees in a foreign country without establishing a legal entity, it can partner with an EOR. Once you decide on the employee you want to hire, you can get your EOR service provider to take it forward.
Let’s see the steps involved:
1. Contracting
With EOR services, you can generate employment contracts for your local and foreign employees in minutes! It could be in the native language, English, or both, as specified in the respective country’s labor laws.
2. Onboarding and Compliance
EOR services manage crucial onboarding procedures, guaranteeing compliance with local labor laws and regulations pertaining to employment, labor standards, and tax regulations.
3. Payroll Administration
The employer of record services manages payroll processing, ensuring accurate and timely salary disbursements, tax withholdings, and other statutory contributions.
4. Insurance and Benefits
Utilizing EOR services is essential in securing insurance coverage and benefits for your employees. Additionally, it guarantees adherence to local regulations, ensuring your business operates within legal frameworks.
5. Risk Mitigation
By partnering with an EOR, the company reduces legal and financial risks associated with international employment. EOR assumes responsibility for compliance, reducing the company’s liability.
6. Off-boarding
If needed, the EOR can assist with the termination of the employee, ensuring compliance with local regulations and mitigating potential risks.
Overall, an Employer of Record service allows companies to expand into new markets quickly and efficiently without the burden of setting up legal entities or navigating complex foreign labor laws.
It provides a compliant, cost-effective, and scalable solution for accessing global talent and growing the company’s international presence.
Benefits of EOR
- Smoothly streamline global expansion of your business across borders
- Access to global talent from anywhere in the world, anytime
- Ensured compliance with labor laws avoiding any potential penalties
- Efficient global payroll processing ensuring seamless salary disbursement
- Avoid the financial risk, of losing money through hefty fines and penalties
- Reduce your liabilities and risk exposure in foreign markets.
- Easily flexible and scalable business operations
Countries of Multiplier Employer of Record Services
So, an employer of record service helps you employ talent in any country without requiring you to set up an entity there! Well, in which countries do you get these EOR services? See for yourself!
Top Industries implementing Multiplier EOR services
- Information Technology
- Renewable energy
- Financial services
- Management consulting
- Staffing and Recruiting
- Legal services
Why Choose Multiplier for your Employer of Record Services?
Why choose anything but the best?
With a robust platform and as a trusted Employer of Record service provider, Multiplier empowers businesses to seamlessly hire, manage, and compensate employees globally, all with a simple click.
Whether you aim to onboard numerous individuals from one country or build an international team spanning various nations, Multiplier provides comprehensive support, facilitating the creation of your dream workforce with ease.
We assure you a seamless employment experience, granting complete ownership over your employees while effectively handling legal compliance, taxes, and deductions that can otherwise pose challenges.
Multiplier simplifies complex payroll and tax procedures, saving significant time and resources. Our platform enables streamlined payments, effortless approval processes, and efficient employee remuneration worldwide.
By adopting our advanced, affordable, efficient employer of record services, you ensure timely payments, promoting employee satisfaction as your business ascends to new heights.
Unlock possibilities of great potential. Book a Demo NOW!
FAQs
Q. Can your employer of record service handle payroll and tax compliance?
Yes! Our EOR service smoothly handles your payroll and tax compliance efficiently.
Q. Can you employ international workers without an employer of record (EOR)?
To employ international workers, you either need an EOR provider or an entity of your own, which is costly and complicated. EOR is your best resort to enjoy global talent along with saving cost, time, and effort.
Q. Can an employer of record service help with onboarding and offboarding employees?
Yes! Multiplier EOR services help you with onboarding and offboarding employees compliantly.
Q. How does an employer of record service handle employee benefits and insurance?
With a team of experts compiling the ever-changing laws and regulations of individual countries, and incorporating it on our EOR platform, we ensure our clients are compliant with benefits and insurances stipulated by the world countries.
Q. How does an employer of record solution stay updated on changing labor laws and regulations globally?
We have an expert legal compliance team who are dedicated to researching and updating the changing laws and regulations around the world.
