You might be wondering how an employer of record (EOR) can help with contract placements. An EOR can handle all of the back-office functions associated with the complexities of maintaining these lucrative contracts while you focus strictly on finding more work for your contractors. Here’s how FoxHire helps companies like yours make more money with contract placements.
Benefits of an Employer of Record
Partnering with an EOR allows you to focus on building the weekly recurring income from contract staffing. Instead of managing candidate sourcing, interviewing, payroll, and administrative tasks, your job is to bring in the contracts. In the case of FoxHire, we handle all of these tasks and more. We help our clients:
- Control costs by cutting down on staff overhead. An EOR can also reduce your benefits by being in a larger employer pool, which is increasingly vital to small companies.
- Stay compliant with the latest changes in employment regulatory rules. This reduces your liability in case an employee issue arises.
- Focus on their core business. If you don’t have a team of HR and hiring experts, someone on your team is probably wearing several hats. An EOR has the experienced team to handle HR, accounting, payroll, regulatory compliance, risk management, insurance, and employee benefits.
Employee contracting is a complex field from an employer’s perspective. This is especially true if your contractors cross state lines and have a national focus. Just managing payroll and tax regulations across geographics in a full-time job. But what about background checks? What about benefits? It’s a complicated snarl that most small companies simply don’t have the resources to manage well. Plus, this takes valuable time away from what you should be doing—building your business. Instead, FoxHire can handle:
- All administrative tasks around hiring. This includes employee onboarding and background checks, as well as timesheets, benefits compliance, workers compensation, unemployment, HR, terminations, and more.
- All financial paperwork, from payroll funding and processing to direct deposits. We handle state and federal payroll taxes and unemployment. We can even handle invoicing your client and managing collections.
- On the legal side, an area that can easily trip up most small businesses, we can handle contracting with your clients and with the contractors’ you staff, immigration authorizations, and IRS compliance, and much more.
Where does this leave your company? If you partner with an EOR like FoxHire, your recruiting and sales team should focus on one thing: building your business. That is the biggest benefit of an EOR and why so many consulting and staffing companies choose FoxHire.
We know contracting is a lucrative business. You receive recurring revenue from every candidate you place. If your client wants to hire your contractor, you then receive the placement fee. This business model is all about making money. The last thing you need is for a legal compliance issue to slow you down. Partnering with an EOR brings you a ready-made staff of HR experts to focus on all of the complexities of the hiring process, leaving you free to focus on creating revenue. This is a model that literally pays for itself.
Are You Ready to Start Making Money?
FoxHire has helped hundreds of businesses like yours become more efficient and make more revenue. How can we help you today?