The last two years have seen several organizations moving to a remote working model, providing options for employees to work from anywhere across the globe—sometimes in different cities or countries—thereby creating a single global resource pool. Flexible work locations have become a new factor that increasingly contributes to employee retention and, therefore, cannot be ignored as it has the potential to shape the future of work.

To hire an employee in a specific country, an organization needs a local office, a subsidiary registered to the local address, and a local bank account. While these are the statutory requirements, some of the other hurdles could include the following:

  • Ensuring payroll, benefits, and taxes are processed in compliance with local regulations, which further extends to the careful adherence to local laws concerning minimum wage, severance pay, leave, and absence management
  • Imbibing the new employee into the organization’s culture while guaranteeing the right experience

To comply with these requirements, organizations increasingly hire an Employer of Records (EOR) service provider that takes complete accountability for paying employees, assisting with their local compliance requirements, benefits, taxation, visa, and insurance obligations. Modern-day EOR service providers, like Neeyamo, whose technology stack supports workforce management and global payroll requirements in more than 150 countries, help organizations have a unified view of their global workforce.

Global EOR/ PEO has evolved significantly over the years, from being viewed as a process checklist ensuring an organization’s ability to recruit remote talent to now being able to showcase the potential to power an organization to go where the talent is or where the business needs! With a powerful underlying global technology, the power of EOR is truly limitless.

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Neeyamo is a leading platform-based global payroll and HR solutions provider focused on delivering global HR, payroll, and EOR services to multinational organizations across more than 150 countries.