Expanding your business globally is an exciting and daunting step. While recruiting the support of an Employer of Record can help to ease the burden of your global expansion, it can also raise a lot of questions about EOR services. We’re here to answer as many of those as we can with our EOR FAQs.
What is a Employer of Record (EOR)?
First things first, what is an EOR? An EOR is the legal employer of employees within a certain country. While business still take care of the day-to-day management of employees, an EOR takes care of payroll, compliance, taxes, employment contracts and much more.
What are the benefits of an EOR?
Global expansion is incredibly complex with international employment laws and processes taking up extensive time, cost and resource for growing businesses.
An Employer of Record (EOR) can take all of this liability from your shoulders and prevent you from needing to set up a legal entity in your chosen country of expansion. By complying with foreign employment laws, on-boarding employees and running payroll on your behalf, an EOR ensures speed to market as well saving you money in the long term.
You can see some more benefits of our EOR service below.
What businesses need an EOR?
Put simply, any size or sector of business can employ an EOR . An EOR is favoured especially by smaller businesses and start ups who perhaps do not have the benefit of additional resource to navigate global compliance.
At Leap29 we frequently offer Employer of Record services for businesses working in technology, Engineering and Construction, Oil & Gas, Pharmaceuticals, Renewable Energy and Technology.
Is an EOR the same as PEO?
Put simply, yes. A PEO and EOR both manage the employment of your international hires meaning you don’t have to set up a legal entity. In certain countries, the US for example, the term PEO is preferred, however, both terms are generally used interchangeably.
You can read more on the difference between an EOR and PEO here.
How much does an EOR cost?
At Leap29, our EOR services are tailored to each business that we work with. Therefore, our costs vary from client to client. However, we can promise that our quotes and fees are transparent and competitive.
For a bespoke quote and proposal on our employer of record services, don’t hesitate to contact our team today.
Can an EOR help with employee benefits?
Yes, an EOR can help you provide employee benefits. Firstly, they can help you with legal benefits, such as payroll and annual leave. Then, they can support you with optional benefits such as healthcare and flexible working.
You can find out more about what benefits an EOR can help you with here.
Can an EOR help me with recruitment?
Yes, at Leap29 we provide global recruitment services in addition to our EOR service. With over 20 years of experience, we have the knowledge and experience to help you acquire and onboard the top talent.
Why choose Leap29 as your global EOR?
If you’ve already started to research an Employer of Record, you will know that the market is full of EOR companies. Deciding which of these companies to trust with your global expansion can be difficult.
At Leap29, we have been helping businesses advance by providing reliable recruitment and employment management support for over 20 years so you know we can be the EOR you can trust. Don’t just take our word for it, read a case study from one of our clients here.
Where do I pay tax when using an Employer of Record?
More often than not, you will pay tax in the country that you are employing someone in. As your EOR partner we will take care of your tax and national insurance contributions, taking the responsibility from your shoulders.
How many employees can I use an EOR for?
Whether you are employing one person, or a full international workforce, Leap29 can offer you expert EOR services. You can also start with one employee and add others in as your global business grows.
What countries do you offer EOR services to?
At Leap29 we offer global EOR services. We operate across over 150+ countries, so we are well placed to provide EOR services on an international scale. So whether you are expanding into Singapore, the Netherlands, United Kingdom or France, we can be the leading Employer of Record you can trust.
If you have further questions about our EOR Services, call our experts today on +44 (0) 20 8129 6860 or email us at [email protected].
