The turn of the millennium saw organizations increasingly becoming global. The hunt for human resources especially when you venture into a new geography can be complex – and it does not stop there.
Managing a global workforce, employment contracts, especially when the need is to have a handful of employees in select countries proves distracting and intensely burdensome for your in-house team. Lack of knowledge of local HR & payroll compliance requirements can add further turmoil when you have global expansion as your priority.
This is where Employer of Record (EOR) comes in.
What is Employer of Record (EOR)?
An Employer of Record service provider helps you get rid of the hassle of handling the complexities that come with setting up a new employee in remote locations. They act as the legal employer, facilitate salary payments, and handle everything from health insurance. payroll taxes, and employee benefits to compliance with local tax laws and regulations.
This ensures that the client company can focus on the employee’s everyday tasks safe in the knowledge that they have a cost-effective solution as they continue their global expansion.
Neeyamo’s Employer of Record services:
Organizations often find themselves with an inflated HR opex in their efforts to engage and manage their globally dispersed workforce – Not anymore!
– A global leader in payroll, offering to stand at the intersection to help you pay your globally dispersed workforce
– A global compliance powerhouse shielding you from any and all compliance risks that you might face
– A payment gateway helping you pay your employees in their currency, irrespective of the currency that they operate in
– A HR technology provider with proven expertise of having delivered a single global payroll technology stack
Neeyamo covers Employer of Record services in over 150 countries, offering a single technology-based solution that allows organizations better control in managing their extended workforce. Our expertise in global payroll and knowledge of local compliance regulations, coupled with an integration-ready global platform helps us take away all payroll worries pertaining to global expansion.
Do you have a need to onboard an international employee – or are you looking to start an offshore team to support your organization’s expansion plans? Talk to us!
The recent pandemic has witnessed 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. Neeyamo's technology stack supports workforce management and global payroll requirements in over 150 countries, helping global companies have a single view of their overall workforce. Global Employer of Record/ Professional Employer Organization has evolved significantly over the years; from being viewed as a process checklist ensuring an organization’s ability to recruit remote talent, it now showcases 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 Employer of Record is truly limitless.
Neeyamo’s solution is powered by state-of-the-art proprietary technologies built to provide a seamless experience for our customers. Having a comprehensive technology stack that extends to support not just global payroll processes but an integrated ancillary HR solution ecosystem including time, absence, benefits, etc. allows better control and governance. Neeyamo’s applications and technological solutions are configured to be aligned with your internal HR processes and goals resulting in advanced automation, improved efficiency and a hassle-free employee experience.
An efficient global payroll compliance solution is critical to Employer of Record to ensure compliance with local tax laws and regulations. This allows you to stay compliant on a global scale with minimal effort. A permanent establishment with a local address, a subsidiary, and a bank account are mandatory requirements to manage local payroll and EOR in any given country - and Neeyamo will help you there!
Integrated reporting, dashboards and data analytics that provides a truly holistic view of the overall workforce that will include both full-time regular employees and those who are on the EOR stream.
If you are a multi-national worried about your long-tail of countries with sparse employee population, you’ve landed on the right page. The long-tail challenge remains a niche area that many providers are reluctant to address due to geographical constraints, complicated compliance issues, and low employee spread. Neeyamo has established itself as a leader in the long-tail arena providing customized services to address the needs of your employees in the long-tail countries. Our strong global presence and deep-rooted network across geographies enable us to provide an optimum and localized solution well-suited for your long-tail countries.
Hear Jonathan Waterbury, Vice President of Finance at Zuman talking about evolving trends in payroll and human resource outsourcing and his experience in working with Neeyamo.
Ezetap needed implementation of a core HRIS to drive goal-directed performance management system.Neeyamo deployed SAP SuccessFactors Employee Central (EC) and PM / GM using Rapid Deployment Solution (RDS) for an accelerated go-live
Neeyamo is driven by its proprietary, cloud-based global payroll platform, PayNComp, to reduce delivery time, eliminate manual processing, and provide comprehensive global compliance support.
While globalization is a boon for any multinational organization, it comes with its own set of bane like having a skewed distribution of employees dispersed across a "Long-Tail" of countries.