Talent is everywhere. Engaging with talent across the borders comes with revived benefits such as a diversified talent pool, lower costs, and access to new markets. If you plan to expand your team and organization globally, hold your horses while we introduce you to the EOR (Employer of Record) concept. By hiring a professional EOR service provider, you can build your talent pipeline globally and enjoy the benefits of international footprints without the hustle of establishing a legal entity in the chosen country.
In this blog post, you will get to know the EOR meaning, the benefits of EOR in India, and things you must consider before partnering with the Employer of Record EOR service provider.
Content List
- EOR Meaning
- About Optizm Global
- Benefits of Employer of record services India
- Why Optizm Global is a perfect EOR partner?
EOR Meaning
Hiring an employee comes with several responsibilities, including employment tasks, payroll management, taxation, and much more, which the HR department takes care of in traditional hiring. When a company plans to expand its footprint and hire talent residing in a foreign country for the same, bureaucracy hoops can slower the entire process and make it troublesome. This is where Employer of record companies play their role.
Employer of record eor is a company that gets into an agreement with the company looking for international talent and takes complete responsibility for financial and legal procedures needed to stay in the good books of the federal government of a particular country. The services offered by an EOR company can include everything related to talent management, such as payroll, administration, onboarding of employees, tax documentation, leave management, and much more.
Optizm Global is an EOR service provider taking care of your global hiring needs.
Save time from setting up an overseas subsidiary entity to get access to international talent. Our mission is to make global talent acquisition and management effortless, leaving you time for other significant operations.
Significance of hiring globally with Employer of record
EOR has been a common practice among companies aiming for global expansion. The HR arrangement acts as a bridge between the business in the foreign land and the government. Establishing a subsidiary company from scratch, comprehending the local labor laws, and looking for ways to discover suitable candidates can be highly time-consuming. Further, with the high-level involvement of bureaucracy in a country such as India – employing international talent can consume a good amount of time.
Let’s take a closer look at the benefits that you can enjoy by partnering with Optizm Global for your EOR needs –
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Global Market Expansion
Global Market expansion demands global talent. As mentioned above, there are several benefits of having international talent onboard (diversification and affordability). Irrespective of being familiar with the advantages, companies avoid hiring employees from foreign countries because of the challenges that come along with them. The challenges include getting establishment approval from the government, finding the talent, and administration challenges.
How Optizm Global can help?
By having Optizm Global by your side, you can skip the step of establishing the subsidiary company and start hiring the brightest talent right away. We are a registered company in India with desired authorities, and Optizm Global acts on behalf of your organization and employs the employees. On paper, the employees work for Optizm Global, whereas they will be directly accountable to you.
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Compliance and Local Laws
The local labor laws and compliance of every country differ. Not being aware of the prevailing laws can result in expensive lawsuits. For instance, US Government entitles female workers to take 12 weeks of unpaid leave during pregnancy and for the care of the newborn. In comparison, India’s Maternity Benefit Act (2017) allows women to take maternity leave for 26 weeks.
How Optizm Global can help?
Optizm Global, one of the renowned Employer of Record companies in India, is well-aware of the prevailing laws and compliance. We inform the participating member beforehand regarding the terms and conditions. Even in case of any breach of law, we take full responsibility and keep the Employer away from legal obligations.
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Better Productivity
The core activity of an organization is to work on a product or service, build meaningful relationships, market the product, etc. Getting indulged in paperwork and payroll management can affect productivity and efficiency. Often, a separate department is created to deal with talent management and administration, which comes with an additional cost.
How Optizm Global can help?
A note-worthy feature under our EOR services – complete HR solutions covering payroll management, drafting employment and termination agreements, talent acquisition, employee’s compensation etc. Optizm Global is not just an Employer of Record service provider in India; we act as the HR extension and work closely to keep the operations smooth.
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Reduced Costs
Setting up a new office abroad comes with multiple costs – infrastructure, legal team, compliance and HR team. Further, establishing networking to discover the right talent is another task.
How Optizm Global can help?
Partnering with the right EOR company in India can save you from all the trouble. Optizm Global acts as an extension and eliminates the setup cost. Expert talent acquisition managers and the legal department take care of every crucial element and make hiring smoother. The best part – all of this comes at a nominal fee.
Why Optizm Global is a perfect EOR partner?
EOR is often considered an outsourced service, whereas, at Optizm Global, we act as an HR extension managing your global headquarters. We are connecting the right talent residing in a foreign land to the US-based companies looking for skilled workers. We are a team of talent managers and legal consultants who know what it takes to fulfill the talent requirements of an organization.
If you are still skeptical about whether opting for EOR services would be the right decision, then get in touch for a free consultation. The team at Optizm Global can guide you through the entire process of EOR in India and our transparent pricing model.
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