The global Employer of Record (EOR) market has seen explosive growth over the past decade. Recent research from the Everest Group predicts the space may reach net revenues of up to $3 billion globally by 2025. This unprecedented growth is driven by the rising demand for international talent and a widening global talent gap.
With an increasing number of EOR providers in the market, companies now have more options than ever for global hiring. Not all EORs are created equal and selecting the right partner is critical for the success of your global hiring ambitions.
To ensure your EOR meets your business needs and supports your international growth, it’s essential to evaluate their performance. In this blog, we suggest five steps to help you assess your EOR.
Choose a comprehensive, end-to-end service provider.
When selecting an EOR, prioritize those that offer comprehensive, end-to-end solutions that go beyond basic employment services. A top-tier EOR should provide a full suite of cross-border HR solutions, including recruitment, global payroll, global benefits administration, visa support, regulatory compliance consultancy, independent contractor management (Agent of Record) and more.
This breadth of services provides consistency and efficiency across your international workforce, reducing administrative burdens and enhancing overall employee experience. By partnering with an EOR that offers a complete range of services, you can streamline your operations and focus on your core business activities.
- Can your EOR provider accommodate your future service needs as your business grows and scales?
- Does your EOR provider maintain local offices or do they rely on regional partners?
With the right provider by your side, you gain peace of mind knowing the complexities of HR are expertly managed.
Evaluate the client and client-worker experience.
A people-first approach is essential for addressing complex issues and delivering a positive experience for both clients and client-workers. Evaluate the responsiveness and effectiveness of the EOR’s customer support team. Are you assigned a dedicated account manager who understands your business needs? Do they provide timely and proactive support? The ability to speak to a knowledgeable representative when needed can make all the difference in managing your global workforce effectively.
A seamless onboarding process is critical to setting a positive tone for new hires. Assess the effectiveness of your EOR’s onboarding procedures for your workforce. Are new employees integrated smoothly and efficiently? Is their process aligned with your company culture and values?
Remember that the employee experience doesn’t stop at onboarding. A high-performing EOR should also excel in managing global benefits. Evaluate their ability to offer tailored benefits packages that meet local standards and cater to diverse employee needs. This may include private health insurance, business travel insurance, family-friendly offerings, equity compensation, retirement plans and generous leave policies.
Assess payroll accuracy and cost management transparency.
Accurate and timely payroll processing remains a cornerstone of maintaining employee trust and satisfaction. The EOR you choose should deliver precise payroll services, including correct deductions, taxes and withholdings. Errors in payroll can quickly lead to employee dissatisfaction, financial problems and even legal challenges.
In addition to payroll accuracy, evaluate the EOR’s cost management transparency. Are their services competitively priced compared to local market standards? Do they offer clear, upfront pricing without hidden fees? Transparent cost management is vital for planning your budget effectively and making sure you receive fair value for your investment.
Prioritize scalability and flexibility.
As your business grows, your EOR should be able to scale its services accordingly. Evaluate their capacity to support expansion into new markets or manage a growing number of employees. Can they efficiently handle the complexities of operating in multiple countries?
Flexibility is equally significant. Your EOR should adapt to your changing needs and offer tailored solutions that accommodate different market conditions, legal requirements and cultural nuances. This includes knowing all the nuances in the HR lifecycle, from hiring to firing and beyond.
Flexibility should extend to all aspects of cross-border operations, from local HR policies to employee relations and compliance management. An EOR that is responsive to your evolving needs can help you navigate the complexities of global expansion more effectively.
Review technology integration and how it supports both clients and client-workers.
A modern EOR should leverage technology to enhance their service delivery and provide a seamless experience for both clients and the workers they hire through the EOR. Review the usability and functionality of their technology platform. Is it user-friendly? Does it integrate well with your existing HR, payroll and financial systems? How do they protect sensitive client and employee data? Effective technology integration can streamline processes, reduce errors and improve overall efficiency.
In today’s rapidly evolving HR landscape, AI is increasingly being used to streamline processes, improve accuracy and enhance decision-making. However, not all EOR providers leverage AI effectively. Poor implementation of AI can lead to biases, mistakes and other errors that can erode trust and damage employee relationships. When assessing an EOR, consider how they incorporate AI into their HR practices. Are they using AI to enhance efficiency without compromising fairness and transparency?
Go Fast. Go Smart. GoGlobal.
A good EOR is more than just a service provider. They are a strategic partner that offers a full range of cross-border HR solutions, recruitment and global benefits to drive your international growth.
At GoGlobal, we provide a complete end-to-end solution that combines advanced technology with a human-first approach. Our proprietary BlueOcean platform features clear billing, compliance management and seamless integration with your systems, while our dedicated team supports you every step of the way.
From recruitment to payroll and benefits, we offer the full spectrum of services to help you achieve your global ambitions.
Go with an EOR that is as committed to your success as you are. Go fast. Go smart. GoGlobal.
Contact us to talk with an international HR expert about how GoGlobal’s EOR and cross-border solutions can support your business goals.