Aoffshore model, developing economies such as India and China became key destinations for a range of outsourcing and contracting services. Global businesses started outsourcing HR services in India mainly due to the availability of skilled talents and cost-efficiency services compared to the West. Due to certain challenges associated with outsourcing, many companies prefer hiring Indian contractors. Although hiring contractors has certain advantages such as better control for businesses, easy to downsize or upsize workforce, and cost-saving; it has several shortcomings too. EOR services emerged as a solution to various problems associated with outsourcing and contracting. With EOR service support,
Company can easily navigate the legal complexities when entering the Indian market and operate compliantly, with better control over employees and reduced costs. Major advantages of using employer of record In short, EOR services offer several benefits, including compliance support, risk mitigation, access to global talent, operational efficiency, and cost savings. As global businesses increasingly compete to tap skillful resources internationally, an EOR provides diverse benefits for small and large companies. Let's explore the major benefits of using EOR services for businesses. Compliance support & risk management EOR services offer compliance support for companies expanding
When using EOR services, foreign companies can enter a new market and operate their business without worrying about compliance issues. Being a legal employer, EOR companies mitigate compliance risks by shielding your business from potential tax liabilities, legal disputes, and non-compliant activities. Access to global talent EOR services allow global companies to access a diverse talent pool without establishing a legal entity in each target country. Companies can hire skilled professionals quickly and compliantly regardless of geographical barriers with EOR support.