Employers of Record are a fairly recent phenomenon, but their popularity has been booming since “Work From Anywhere” arose, and is now becoming a preferred way of hiring and managing remote teams.
With more and more companies becoming increasingly familiar with EoR as a tool for international expansion, you may be wondering if it is the right solution for you.
HSP Group, the leading provider of global expansion solutions, has launched a new, full service EoR offering to advise businesses on whether they should pursue EoR activities, and to provide comprehensive, market differentiating support to those businesses that choose to go ahead, or alternatively help companies pursue a different route from EoR, whether starting off or down the road.
Employer of Record (EoR) can be an ideal solution for businesses looking to expand internationally.
As a quick to market, mitigated risk solution, EoR allows businesses to engage with a fresh pool of talent in various countries or jurisdictions without the need for an entire legal entity. When undertaken correctly, it poses no risk to the violation of any local employment or tax laws.
There are companies all over the world that have had tremendous success deploying EoR – but it is not the right solution for every business or in every country, and even where EoR is an optimal starting point, it is typically not a permanent solution.
So, it’s important to keep in mind that EoR is not always a universal, “one size fits all” solution, nor is it a permanent solution – as a business expands, EoR can become a costly, inflexible, and an often non-compliant solution that quickly becomes hard to manage, especially without a substantial human resources infrastructure that can support a growing team.
HSP has a roster of global expansion experts that are uniquely positioned to support businesses seeking to expand internationally utilizing EoR, backed by expert-driven managed services and technical consulting solutions.
Steve Malley, Global Director of EoR at HSP Group, commented on how HSP has capitalized on the rapidly evolving EoR environment: “The thing I admire most about the EoR industry is how much it has evolved and grown over the years. HSP is taking this evolution a step forward by introducing our Managed EoR Services offering. We are excited to bring tailored support alongside innovation to this growing community of multinational employers.”
HSP is seeking to elevate the conversation around EoR for the next wave of globally expanding organizations, working on a consultative basis to ensure businesses understand the benefits, and the drawbacks, and advise on how to manage these going forward.
For example, HSP can evaluate the long-term exposure and, when the time is right, provide a concrete strategy for transition, graduating a business from an EoR to its own entity and infrastructure that is flexible, compliant, and cost-effective, ensuring compliance while consolidating vendors.
Applying a “been there, done that” approach, HSP guides businesses on what is best to implement and when, while partnering with you at the outset to help you understand how the evolution of your business may drive the need to consider alternative solutions.
“EoR is a valuable tool to consider when undertaking or expanding your global operations”, says Larry Harding, HSP’s Founder & CEO. “Whether it’s helping you outsource and better manage existing services you already have in place with an EoR provider, or utilizing our own EoR services for your overseas staffing needs, or helping you graduate from an EoR solution and transition to a next step approach that better fits your business going forward – HSP is the only provider willing and able to offer all of these services under one solution, with a right hand expert there to help guide you every step of the way.”
The HSP team consists of highly experienced global expansion experts that boast decades of accumulated experience, especially in the myriad of issues that arise in the world of EoR. Over the years, they have — in various roles and at various organizations — identified the solutions that expanding companies need as they try to navigate increasingly complex global markets.
To find out more about HSP and how it can help you with EoR activities, visit hsp.com/eor
About HSP Group
HSP Group is a global expansion services ‘disruptor’ that has revolutionized the way customers stay on top of managing their international growth activities. Offering global people and entity management solutions — as well as bespoke expansion consultancy services — it helps start-ups, technology businesses, growth companies and established multinationals with their expansion plans, all managed via one technology platform, GateWay. Already an industry front-runner, GateWay allows customers to manage their international footprint in a holistic manner and offers real-time, consolidated information, as well as the ability to self-manage aspects of their business. HSP Group offers Global People Solutions (including processing a Global Payroll, Employer of Record capabilities, ongoing HR Administrative Support, Technical HR Consulting, and Global Mobility & Immigration services), and Global Entity Solutions (including Setups & Incorporations, ongoing Entity Compliance filings, Import/Export assistance, Statutory Accounting compliance, Bookkeeping, Direct and Indirect Tax guidance and compliance, and Legal-related services). For more information, please visit hsp.com.