Employer of Record Services : Global EOR Explained

Employer of Record Services : Global EOR Explained

Employer of Records

India has undergone a business revolution in recent years. And businesses all around the world are seeking to leverage this time. The first step, however, is to find employees that can make a difference.

But wait! There are many questions that crop up in this context.

How would you know who are the most capable candidates in a foreign country? You are not expected to be an expert of labour, tax, and employment, rules and regulations of a foreign land! And let’s face it – trying to manage the human resource operations of employees in a foreign country can seem intimidating (and it is).

But what if tell you there’s a smart way out? Well, there is!

Employer of Record Services

Employer of records is the third party intermediary between the original employer and the foreign employees. Basically, they are the experts who take care of all the operations concerning human resources on behalf of the original employee.

The EOR formally becomes the employer of your employees.

A very common question here is –

So would the employer of record have all the rights to interfere in the working of the original company?

Why should you care about Employer of Record Services?

But you can yourself hire employees in India, why do you even need an intermediary for that?

Here’s why –

You are an expert in operating and running a business in your own country. But each country has a different set of rules and regulations when it comes to running a business. What is followed there will, most likely, not be followed here.

So you have two options

  1. You can either master all the laws and compliance pertaining to your target country(ies).
  2. Or you can simply outsource the function to an employer of records and focus on problems that matter most.

Each organisation has limited bandwidth. And though hiring employees from all over the world is what will make your business take-off, you cannot risk its success by making a mistake that has legal repercussions.

Benefits of employer of records (EOR) Services

Makes your business thrive

employer of records helps business grow
Employer of records Services helps business grow

Let’s face the fact – handling payroll, administrative management of employees, and handling human resource is tough and requires a lot of time. And it’ll take you even more time because you’ll have to learn about the business intricacies of your target country and compliance standards first.

On the other hand, leaving all this in the hands of experts (EOR) will allow you more space and clarity to do your business. And you can utilize the time to focus on the working and management of your employees, and other problems that will make your business thrive.

Saves time

Let’s accept – you don’t have the time or bandwidth to handle all the human resource intricacies when your main focus is to expand your business to a new country.

For starters, imagine the amount of time you (as an employer) will take to set up a team in a foreign land. Whereas, Employer of Record will not only do the required tasks efficiently but also save a precious resource of your business – time(!).

Saves cost

employer of records services is cost saving option
employer of records services is cost saving option

You’ll obviously end up spending more if you do not have complete knowledge about something.

Whether the cost is involved in hiring employees, managing other HR back end operations or being compliance to rules and regulations, Employer of Records will drop it to the minimum.

Legal Compliance

Employer of records handles Legal Compliance
Employer of records handle Legal Compliance

Being compliant with the labour laws is a serious business and heavy penalties are levied in cases of non-compliance.

Employer of Records offers an added advantage that you won’t run your business into trouble and remain compliant throughout.

From payroll to administrative management to contracts as per the Indian Labour Laws, your service provider will handle it all. What a relief that is!

Risk Mitigation

Your employer of record, however, can help you nullify these risks
Your employer of record, however, can help you nullify legal risks.

As we just discussed, failing to adhere to the compliance standards can cost you beyond imagination. Penalties and increased cost is just a part of it.

Serious legal consequences follow in case of non-compliance, and no organisation intends to take that risk. Your employer of record, however, can help you nullify these risks.

Additional Benefits of Employer of Records

The umbrella of benefits of Employer of records spread beyond the aforementioned ones.

  • Through leveraging employer of records services, you can explore the market of your target country and see if their work ecosystem is in sync with your business. You will be able to do that without local incorporation.
  • You can also start your business immediately in a foreign country. How? Employer of Records sets the base for your human resource needs in your target country. So, you do not have to start from scratch and can get to the point straight away.
  • You also get a pre-arranged service that will hire your workforce so that you do not spend your time doing the same and end up delaying the major processes.

Easy Source: Employer of Records Services Provider in India

So, basically, you can trust them with your Employer of Records Services for 5 major reasons

  • Easy Source is an experienced player in the EOR market that understands the nitty-gritty of Human Resource.
  • Their team has already served business of all sizes and industries, so they bring a tailored approach to the table.
  • They are experts who will ensure that your business gets access to the most qualified individuals.
  • They are efficient in handling all Human Resource needs of any given business that includes payroll and the administrative management of your local employees.
  • Given their reputed presence in the Indian market for about 15 years, they understand the Human Resource expanse in India and can offer you better than the best services in their home country.

Benefits of Hiring Easy Source as EOR

  • Your business will have workforce contracts in place as per Indian Labour Laws.
  • You can hire an Indian workforce in a matter of days.
  • Easy Source will serve as HR SPOC / Single Point of Contact support organization for your local employees.
  • They will help you open avenues to build your business in the Indian market.

Whether you’re looking to test the waters of Indian market or are willing to establish your business in the Indian terrain, the best time to do it is – right now! Even better – now you know how to go about it.

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