When engaging employed contract workers in 2024, picking the appropriate Employer of Record company is essential. The Global Employer of Record Platform market was valued at US$ 4299.1 million in 2023 and is anticipated to reach US$ 6604.4 million by 2030, with a 6.8% CAGR. This article includes the world’s top 9 EOR companies streamlining HR procedures. Examine how well they handle workforce difficulties, guarantee compliance, and manage human resources worldwide.
What Is An EOR Service?
Employers of record (EOR) service companies function similarly to go-to persons for tax-related issues. When a company establishes itself in a foreign nation lacking legal presence, it utilizes this. International employees are situated anywhere in the world, and reputable employee of record companies handle all of their payroll, benefits, taxes, and paperwork.
See more: What Is An EOR? Employer of Record Pros & Cons
Why Do You Need To Hire An Employer Of Record Company?
Hiring the best EOR companies can benefit businesses, help save time and budget, and make operations much smoother for global expansion.
- No Need for Multiple Legal Entities: Hiring in different countries becomes simple without setting up multiple legal entities.
- Access to Local Experts: EORs handle complex tax and labor laws, allowing your company to focus on its core functions.
- Fast Onboarding: EORs speed up the hiring process by managing tasks like contracts and payroll setup, making it easy to bring in new talent.
- Intellectual Property Protection: EORs help safeguard your company’s intellectual property through secure contracts.
- Reduced Classification Risks: EORs ensure correct worker classification according to local laws, minimizing the risk of legal complications.
- Less Paperwork: The EOR handles administrative tasks, from payroll service to contracts, reducing your paperwork load.
- Acceleration of Global Expansion: Best EOR provides a quick way to employ staff in new markets, speeding up your global expansion plans without the need for legal entities.
9 Best EOR Companies To Smoothen Your HR Operation In 2024
Below are 9 best employers of record (EOR) you should know to streamline your global expansions:
| EOR Companies | Offers | Country Available |
| ERA Staffing Solutions | 24/7 support from well-trained staff.Perfect information and data security.Fast-track expansion. | Vietnam, U.S. |
| Rippling | Fast onboarding.Detail reporting capabilities.Manage HR, IT, and finance processes. | U.S., Australia, Canada, France,… |
| Papaya | Wide country coverage with more than 60 countries.Tailored notifications.Offer various features. | More than 160 countries: Japan, Russia, Brazil, Australia,… |
| Multiplier | Include payroll and insurance in local compliance.Assist with visa paperwork provided.Support employee stock ownership plans. | 150+ countries: India, USA, Singapore,… |
| Deel | Prompt payment processing.Available in over 20 currencies.24/7 customer support. | 150+ Countries: Spain, Germany, France, Chile, Brazil,… |
| Oyster | Budget-friendly starting cost for contractors.Include protection for IP rights.Facilitate hiring in 180+ countries. | 180+ Countries: US, UK, Algeria, Angola, India, Germany,… |
| Remofirst | Extensive global coverage.Onboard on the same day.Support is available 24/7.Affordable price. | 160+ countries: USA, Canada, Vietnam, UK, UAE,… |
| Globalization Partners | Easy link to other tools.Quick support for new employees.Boost customer satisfaction rating. | 180+ countries: Mexico, Singapore, Australia, UK,… |
| Remote | Extensive coverage across countries.Notable for excellent customer support.User-friendly and streamlined interface. | 170+ countries: US, Belgium, Argentina, Portugal,… |
ERA Staffing Solutions
ERA is a first choice among top Employer of Record companies with 15 years experience. They aim to be the main connector, helping companies find their perfect match in candidates. By working closely with organizations, ERA focuses on building strong teams and assisting individuals to succeed in their roles. They handle staff consolidation, workforce development, compliance, and real-time reporting.
ERA makes it quick and easy for organizations to enter Vietnam while saving time and money. With a dedicated 24/7 support team, they ensure rapid responses to questions and offer necessary help to individuals within the organization. They also prioritize information security and data protection, aligning their commitment with clients’ expectations for keeping sensitive information safe.
ERA sees itself as a reliable partner dedicated to helping companies and individuals grow, stay compliant, and succeed. Their approach includes comprehensive support, clever facilitation, and a solid commitment to creating a positive and secure business environment.
Rippling
Rippling is an HR system known for its quick onboarding and full HR support. Although it covers fewer countries than some best employer of record companies, its system simplicity is a big plus.
One standout feature is how fast Rippling sets up new hires—just 90 seconds for onboarding paperwork. It’s the speediest option, even beating out same-day processes.
Rippling’s EOR service handles time off, paid time off, workers’ compensation, and employee payroll, even in international currency.
In addition to EOR services, Rippling’s cloud covers more HR functions, like localized benefits, global recruit aid, and learning management courses for international compliance. Choosing Rippling means having one system for EOR, HR, IT, and finance as your business expands into new countries.
Papaya
Papaya is a reasonable system for hassle-free international employment. It’s excellent in three critical ways: available in various countries, reasonably priced, and easy to use with its central hub and custom alerts.
Papaya can smoothly handle payments in local currencies for over 160 countries. Its system includes auto payslips, help with equity and expenses, third-party insurance, and pension payments.
Their software makes things easy with reports, integrated with popular tools like BambooHR and NetSuite, and customizable alerts for invoicing and payments.
Papaya goes the extra mile, offering services like a global health plan and support for employee visas, but these come at an additional cost.
Multiplier
If you want an all-in-one HR system without hidden fees, Multiplier is your go-to. Unlike other employer of record service companies that add insurance and payroll processing charges, Multiplier includes them in its base charge for local hiring.
Multiplier covers everything for hiring employees, even visa paperwork. For a starting price of $400 per employee per month, you get global payroll, payslips, currency conversions, benefits, insurance, employee stock ownership plans, and 24/5 local support for HR and legal matters. While it might not be as lightning-fast as Rippling’s 90-second turnover, Multiplier offers “instant” employment contracts to keep things moving.
Deel
Deel is a top choice for HR software in small businesses. With 24/7 support and a quick payment system that handles various currencies, it’s a satisfying service, albeit pricey.
Deel offers free calculator tools to determine the cost of recruiting foreign labor. You can comprehend the benefits and withholdings needed and compare prices across national borders.
You may receive legally compliant contracts created by local legal specialists with Deel, who will also take care of all your legal duties and keep you informed about any changes to regulations.
Deel’s user-friendly interface is a bonus. It offers beginners guidance on how to use its system, such as adding new employees, updating payment methods, or signing contracts, even without live assistance.
Oyster
If your business relies more on 1099 or independent contractors, or contractors in general more than regular employees, especially in construction, catering, IT maintenance, or security, Oyster is a great choice. It supports contractors in over 180 countries at affordable prices.
It can help you handle invoices and payments in over 120 currencies and provide global payroll and expense management support to employees in over 130 countries.
Importantly, Oyster protects intellectual property (IP) rights protection. It takes care of the international paperwork to protect your business ideas, which is crucial in manufacturing, semiconductors, and pharmaceuticals.
Remofirst
Remofirst is an excellent option for businesses expanding into new markets on a budget. It starts at just $199 and offers a bunch of valuable features. You can get access to over 160 countries with an easy-to-use interface, letting you bundle paperwork when needed and sort information the way you want.
Remofirst provides several services to help your workers worldwide. They administer benefits, including insurance and equity programs, manage invoicing, handle overseas payroll, and help with visa and other immigration requirements. They even assist with the global equipment distribution for your remote workers.
Their HR and legal professional team ensures your company complies with international laws by offering easily accessible compliance paperwork via a safe dashboard. Additionally, they offer 24/7 customer support for any needs. A specialized account manager serves as each client’s primary point of contact.
Globalization Partners
Globalization Partners is a service that specializes in helping businesses hire employees in new countries without setting up their own offices there.
The service makes it easier for businesses to handle HR and payroll for their global employees, ensuring they follow local laws and maintain a consistent company culture worldwide.
Known for its top-notch PEO (professional employer organization) services, Globalization Partners can make:
- Easy connection with other software tools
- Strong support for new hires
- Clear communication to make the customers satisfied.
Remote
Remote’s tools handle paperwork and red tape worldwide, including legal compliance, IP management, and payments to third parties like tax authorities and insurance providers. You’ll enjoy benefits administration in over 170 countries, with Remote taking care of all legal responsibilities, giving you peace of mind that everything is covered.
Remote stands out for its excellent customer support – customers love the help they get when things get tricky. Even though support is available only 24/5, the quality, coupled with Remote’s extensive reach in many countries, makes it the top choice for companies planning long-term growth.
Frequently Asked Questions
What Company is EOR?
A company is EOR when it takes on the legal responsibilities of being an employer for a worker, including payroll, benefits, and compliance. In contrast, the worker performs their duties for another company.
What is An EOR Provider?
An EOR (Employer of Record) provider is a company that becomes a worker’s official employer, taking care of things like payroll, benefits, taxes, and following work laws. This allows the worker to do their job for another company without the hassle of dealing with employment details.
EOR providers make it easier for businesses to handle their workforce, especially when they have remote or international employees.
What does EOR Stand for?
An EOR stands for “employer of record,” is a service offered by a third-party company. It allows you to hire individuals in different countries by having the third-party company as the official local employer on your behalf.
To streamline international HR operations, you should work with the top 9 EOR companies for 2024. Focusing on efficiency, compliance, and simplicity, these organizations are essential partners for enterprises hoping to succeed in the constantly changing business environment of 2024.
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