Locating the right hire for the job has always been a challenge for companies, and is now especially challenging with so many remote roles opening up after the pandemic. Between finding the best-qualified candidate and local labor compliances and regulations, there’s a lot of ground to cover. Not only is this process daunting, the breadth of information could be more time consuming, than the average workload can support. This is where working with an employer of record can alleviate these difficulties, save money, and drive efficiency.
An employer of record (EOR) is an organization or company that is responsible for hiring and compensating employees on behalf of another company. The EOR is legally responsible for employee payroll, employee taxes, benefits, insurance, and other human resource processes. Relying on an EOR can take the pain out of the hiring process by taking on traditional employment responsibilities and liabilities.
Hiring or partnering with an EOR allows the client’s company the opportunity to work more efficiently and effectively by saving time on HR and payroll processes. EORs take responsibility for the following operations:
To sum it up, partnering with an EOR is a cost-effective way to outsource payroll, HR processes, and employment laws and can be especially helpful for companies hiring employees in multiple states.
The role of a staffing agency is to identify, attract, and retain a skilled, competitive workforce. An EOR (also known as a payroll service provider), manages the entire process once the candidate has been identified and selected by the client.
As more and more companies explore remote hiring, new markets and new opportunities are opening up, but so are legal challenges. Furthermore, many companies are tapping into their existing candidate pools, known as direct sourcing, creates the prime opportunity to utilize a payroll service provider/EOR. Partnering with an Employer of Record can reduce these challenges and streamline operations while boosting efficiency.
Here are some of the benefits of partnering with an EOR:
If you are seeking Employer of Record services for your organization, please contact us to learn more about how we can partner to help your organization.
Balance Staffing is a full-service staffing agency specializing in supporting Accounting and Finance, Administrative, Engineering, Human Resources, IT, Light Industrial, Manufacturing/Production, Professional, and more roles.
Reach out to us today to find out what we can do for you.