Organizations across industries face new challenges when hiring and retaining top talent. For one, the age of remote work is here, and more employees than ever want to work outside their company’s physical workplace—often in other states or countries. Managing a remote workforce requires employers to wade through various local labor laws to ensure they compliantly classify and pay their workforce, administer benefits, pay taxes, and more.
At the same time, record turnover makes it harder than ever for employers to hang on to existing team members and attract new talent. Employers must offer an optimal employee experience to attract and retain talent.
As a result, more organizations than ever choose to work with a global Employer of Record (EoR) partner. A global EoR takes on an organization’s human resources responsibilities, simplifying the complexities of managing talent and supporting team members across markets. By turning to a global EoR provider, organizations get a partner that handles all the challenges of overseeing a distributed workforce and maintaining compliance in varying states and countries. A global EoR allows HR teams to focus strictly on their workforce’s day-to-day activity, rather than the intricacies of labor laws across markets, so they can improve their employee experience and boost retention.
While the benefits of working with an EoR partner are numerous, some organizations find it difficult to determine which partner is the right fit for their organization. Read on to discover four questions to ask when comparing global EoR providers.
Is My Global EoR Partner Transparent About Pricing?
Finding a partner with clear pricing is crucial when choosing between global EoR providers. Cost considerations affect multiple internal divisions at organizations, from finance teams to the HR teams that must stay within their distributed workforce budgets. When your global EoR provider introduces new fees or charges in the middle of your partnership, they can throw off your budget and create problematic ripple effects across the organization.
Tip: Ask your prospective global EoR partner to present you with every element of pricing, from setup fees to taxes, markups, hidden fees, and more—right upfront.
Does My Global EoR Partner Have Knowledge in the Right Markets?
Plenty of global EoR providers offer fast setup and low costs (though, as mentioned above, it’s important to get the full picture of those costs before making a decision). Though speed and cost are huge factors when you evaluate potential partners, they do not tell the whole story of your partner’s value.
Your partner must have deep expertise and knowledge in the markets where you wish to engage talent. When your partners aren’t experts in the states or countries in which you operate, it takes time for them to research appropriate labor laws and regulations in those markets—leading to costly delays for your company. Even worse, working with an inexperienced partner puts you at risk of non-compliance with local employment authorities, creating fines, legal fees, business interruptions, and reputational damage.
Tip: Carefully question your potential EoR partner about their knowledge and experience in the markets in which you plan to engage talent—and future markets you may expand into.
How Responsive Is My Global EoR Partner?
The global business world moves fast. You need a global EoR partner that can keep up.
From onboarding and offboarding team members to entering new markets where you will engage talent, your global EoR partner must move quickly so you avoid costly delays and complications.
The same goes for offering support to your existing workforce. When your team members have questions about pay, taxes, benefits, and more, they need access to experts who understand the unique nuances of their local market—and can offer fast assistance.
Tip: Ensure your global EoR partner will both quickly respond to your questions and provide timely, accurate support to your teams in their local languages and timezones.
Does My Global EoR Partner Have a Proven Track Record of Success?
Any EoR provider can promise expert knowledge, fast support, transparent pricing, and other important attributes. Finding a partner that delivers on those promises is another story.
Speak to a potential partner’s references to assess whether they provide real value to their clients. By hearing from current and past clients of a global EoR provider, you’ll learn how their services actually make a difference for organizations like yours.
Tip: Ask your prospective global EoR partner for a full list of references. For global EoR providers with larger client rosters, try to focus on references that are in your industry or sector. When possible, ask your potential partner for references with similar goals or situational considerations to your own, such as where they engage talent, what kind of talent they work with, budget parameters, and more.
Confidently Engage Talent With a Global EoR Leader
As the world’s leading provider of global EoR services, Velocity Global knows how to empower organizations across industries to achieve their distributed workforce goals. Our experts have unparalleled experience engaging talent in all 50 U.S. states and over 185 countries, so partners like you get the talent they need—backed by full support every step of the way.
Velocity Global is proud to offer every client:
- Transparent Pricing: Get a full overview of costs up-front, with no hidden fees or secret charges.
- Worldwide Expertise: Our experts are well-versed in local labor laws and market considerations across every corner of the globe, so you engage global talent with confidence and ease.
- People-First Support: We take pride in always being there for every client, no matter what comes their way. That means we respond quickly and with the right information, so you get the assistance you need to keep your operations running smoothly.
- References Across Industries: We help clients of all sizes and across all fields meet their distributed workforce needs. We’re happy to provide you a list of references that can speak to our service, professionalism, expertise, and support.
To learn more about our transparent pricing, fast responsiveness, global expertise, and success with a wide range of organizations, reach out to us today.