As more companies look to international markets to expand their businesses, there has been an explosion of Global Employer of Record (EOR) companies, the vast majority of which are SaaS-based models. This surge reflects the evolving landscape of global business expansion and underscores the critical need for a marriage of technology and on-ground experience when selecting the perfect Global EOR partner.
For businesses navigating this complex landscape, choosing the right Global EOR partner can provide seamless integration of international employees, ensure compliance with local laws and optimise operational efficiencies. But with so many options available, how do you choose the best Global EOR company for your needs?
Essential questions to ask to help you make an informed decision
1. What experience does the EOR Prospect have in the market you are looking to enter?
Understanding the experience level of your Global EOR partner in the specific country where you plan to hire is critical. It is essential to know how well they understand the local labour laws, culture and business environment.
2. What on-the-ground experience does your Global EOR partner have in that country?
Understanding the on-the-ground experience of your Global EOR partner in the target country is essential. While EOR companies may not maintain their own local entities in every market, a robust network of seasoned, well-established partners is critical.
It’s crucial to verify that your EOR provider, like Acumen International, leverages a network of trusted and thoroughly vetted local partners with extensive regional experience and compliance knowledge. This ensures that service quality and legal compliance are uncompromised, maintaining high standards of operational excellence wherever you choose to expand.
3. Can they provide details of the staffing and operations of their local entity?
Ask about the structure and staffing of their local operations. Who manages their entity, and what experience and qualifications do these professionals have? Understanding who will handle your operations locally provides insights into the operational reliability and expertise of the Global EOR company. Having an effective EOR team on the ground will be especially important should any challenges occur moving forward.
4. What is their track record of hiring in your desired country?
Inquire about the EOR’s previous experience with companies hiring in the target country. Ask for specific examples, including how they addressed challenges and any pain points encountered during the process.
5. What are the steps to establish and dissolve a local entity in your target country?
Understanding the intricacies of establishing and potentially dissolving a local entity is vital. It’s important to know both the duration and complexity of these processes as they can impact your business strategies and timelines.
6. What employment models does the Global Employer of Record partner offer?
Different business needs require different employment models. Whether it’s EOR, contracting, Professional Employer Organization (PEO), or Agent of Record (AOR) services, ensure the EOR can offer the solution that aligns perfectly with your business needs.
7. Do you require recruitment services?
If your global expansion plans include searching for and hiring local talent, check if your Global EOR partner provides recruitment services. This can significantly streamline the process of finding and hiring the right talent.
8. How does the Global EOR partner support the immigration and visa processes?
Finally, if your expansion involves relocating existing employees or hiring international talent, understanding the Global EOR’s capability to handle immigration support and visa processes is essential. Effective on-ground support in this area can save considerable time and reduce compliance risk.
Selecting a Global EOR partner is a strategic decision that requires thorough vetting. By asking these detailed questions, you can gauge whether an EOR provider can meet your specific international employment needs. Remember, the perfect EOR partner should offer a strong and intuitive technology platform but, more importantly, robust on-the-ground support and experience to ensure a smooth and compliant operation across borders.