An Employer of Record (EOR) is a form of service from a third-party organization that takes responsibility of hiring and payroll-related tasks for businesses with overseas deployment. With an EOR service, you can hire talents from overseas without the need to set up a legal entity in your desired country.
Under an EOR service, a business will not have to legally set up an entity in the country whereby the employee resides. Hence, an EOR service provider technically acts as your legal employer, hiring and transferring staff on behalf of your company under a service agreement.
The EOR assumes the risks and obligations associated with day-to-day employment activities and back-office duties like payroll, carrying your burden by becoming the employee’s actual employer.
AYP provides award-winning EOR solution for businesses looking to expand overseas. Talk to our HR experts about it here.