Ever wondered how you can make opening up to a global workforce easier, you can start with EORs. This tool has been around for years but has exploded since the pandemic and the dramatic rise of remote work. Hiring internationally can bring lots of headaches to the compliance and payroll department. EORs answer these needs in the most efficient way possible.
After looking at the range of capabilities EORs offer your hiring efforts you might be one step closer to a remote and fully global workforce. Let’s not forget that a more open talent search means more talent, growth and possibilities for your startup.
EORs also helps you open up to new locations and test tech, talent and market hubs before fully committing to branching out. Hire locally, experiment and build before you start your own company in that location.
What are EORs or Employer of Record companies?
EOR stands for Employer of Record, and they are companies that provide HR, payroll and compliance services for businesses.
These service providers have established companies in several countries all over the world. That allows them to act as the employer on record for your needs, meaning they take care of administrative, payroll and compliance responsibilities.
Freeing you up to do what matters most, focus on getting the best talent and finding the best culture matches. Knowing the compliance and hiring will be easy to figure out.
How can EOR companies boost scale-up and growth plans?
You know what EORs do and how they can help you recruit and hire top international talent. So, what are some of the benefits of getting the best EOR solution and boosting your hiring plans with this new tool?
Open up to a world of talent
The startup and tech scene is an ever-evolving ecosystem but one thing remains true throughout, there is a huge talent gap. A gap wide enough that it makes top candidates hard to lure and more expansive.
More than half of companies that decide to go remote and global report an increase in the quality of candidates*. Since more and more people demand remote, your best strategy is to get ahead of the curb and be prepared to hire from anywhere.
Think about how many more possibilities open up once your search goes global. You can recruit and source talent from diverse talent hubs. Meet skill requirements while you grow in terms of diversity and inclusion.
Not only that it can be an extra incentive for current employees. Opening up the world to your team could boost retention rates. If they can now move and work remotely from anywhere thanks to your partnerships.
Hire for the right reasons
Once you remove the obstacles of location and compliance you can start looking at international candidates from an “ideal match” perspective. You won’t be bothered by technical issues, just focus on finding the real deal in your next candidate.
That means that skills, potential and culture fit take the forefront of your decision-making. Resulting in a more productive hiring process, and a long-term fit for your teams.
Say goodbye to compliance worries
One of the biggest fears surrounding international hiring is compliance and tax burdens. Using EOR save you the headache of having to open a company in a new location and becoming burdened with new taxes and compliance issues.
Hire the talent you need with a clean slate, no worries and someone else to figure out the details. You just worry about building your team.
More benefits for employees
Give your talent a reason to stay and build with you!
Not only is finding the right people for your team hard it’s also costly and time-consuming. Using EORs benefits your employees, giving them the benefits of employment wherever they are located and helping them with legal, fiscal and other responsibilities.
Reduce turnover and show your commitment to remote and global teams with a strong EOR partner on your side.
Scalable and strategic growth
All of these benefits lead to one goal: sustainable growth!
After what has been a couple of rocky years in tech, you need to have a steady and sensible growth plan in order to raise funds, create revenue and increase your company’s value. Remote hiring and global talent teams are a solid way to get your headcount growth to make sense, and ultimately benefit your startup dreams.
Ready to grow
Discovering the wide range of EOR options can be both a challenge and a relief at once. There are an increasing number of companies offering these services.
The variety of options works in your favour as you can search until you find the best possible deal for your hiring needs. You can start with well-known names like Remote or go for newer players in the industry.