What is an Employer of Record (EOR)?
Employer of record services refer to the services provided by companies that act as the legal employer of workers on behalf of other companies or organizations. This means that the employer of record takes care of payroll, taxes, benefits, and other administrative tasks related to employment.
Employer of record services are often used by companies that need to quickly hire workers for a specific project or assignment but do not want to take on the administrative burden of being the legal employer. This can be especially useful for companies that do not have an established HR department or do not have the resources to manage all aspects of employment.
By using an employer of record service, companies can focus on their core business activities while the employer of record handles the administrative tasks associated with employment. This can save time and resources, as well as reduce the risk of compliance issues related to employment laws and regulations.
Overall, employer of record services can be a valuable solution for companies looking to streamline their hiring processes and manage their workforce more efficiently.