To put it simply, an EOR (Employer of Record) is an external entity that acts as an employer for a worker in a legal capacity, while that worker is, in fact, working for a different company. EORs allow companies to recruit internationally without having to open entities in a variety of foreign countries, and vastly simplify the complete hiring process.
An EOR typically performs a wide variety of functions, including onboarding, processing and paying out of payroll, setting up visas and work permits, paying income taxes and social security contributions, and keeping track of all the paperwork involved in employment contracts and compliance with labour laws. An EOR basically overtakes all the legal responsibilities of employment, allowing companies to be secure in the knowledge that their hiring is fully compliant and their employees are getting all the required benefits, and letting them spend their time on more important tasks.
It is, of course, always possible to hire workers directly, whether full-time or on a contractor basis. However, managing a workforce can be a complicated task, full of bureaucracy, constantly evolving labour laws, and piles of various paperwork. And if you are also hiring independent contractors for your projects, you need to stay updated on the regulatory requirements and tax laws regarding contingent workers.
Hiring through an EOR lets you easily expand your business into different countries, giving you access to a much larger talent pool compared to hiring only in one location. And since EORs have full knowledge of laws and regulations in various countries, and experience in managing all the processes regarding HR, you don’t need to worry about having to do months of research, or running afoul of obscure regulations, lack of compliance with which could get you into trouble.
Access Financial operates as an Employer of Record (EOR) in more than sixty countries. We operate a fully integrated international employment network designed to help our clients meet their international staffing needs as they expand overseas.
Why choose AF’s Employer of Record service?
– You don’t need to set-up an entity; you can simply use one of our established companies to engage both EU and third country nationals
– We handle on-boarding and off-boarding of all employees
– We manage payroll and taxes, customised for each client’s needs
– We make sure clients are fully compliant with all statutory, regulatory, and legal requirements
Whether your business is just starting out or is already enterprise-level, whether you want to hire locally or expand to different countries, whether you need full-time employees or a contractor for a specific job, hiring through Access Financial is a simple and efficient way of expanding your company and setting up a talented workforce that will help your business grow and flourish.
Let’s talk about improving your company’s international employment picture – contact us at:
Email: [email protected]
Tel: CH: +41 22 365 4620 | UK: +44 20 7017 3110 | CY: +357 25 820 640