In the complex world of HR, an EOR helps companies scale their workforce without taking on hiring risks. If you haven’t worked with an EOR yet, there’s never been a better time. Here’s how an employer of record (EOR) can help your business in the New Year and well beyond.
How Can an EOR Help Your Business?
Company Scaling? Don’t Hire, Hire an EOR
Economists predict a risky and volatile economy next year. But your company needs workers to keep up with demand. Is there a way for you to scale without taking on the risk of hiring?
An EOR is the answer. EORs offer employers a way to outsource some of the time-consuming, risky tasks associated with hiring new employees. An EOR is an excellent resource if you’re looking to expand without adding the risk of hiring. Here’s what an EOR can do for you.
What Does an EOR Do?
An EOR finds and hires new employees, so you don’t have to. An EOR like FoxHire can serve as the employer of contractors who fold into your company when you need them and then leave when you don’t. We can help you expand your company into new markets without the cost and hassle of registering in multiple states. Our team and technology handle the trickiest part of your business—the human resources—so you don’t have to.
How Can an EOR Help Your Business in 2023?
The benefits of outsourcing to an EOR include the following:
- The EOR handles compliance with labor and tax laws. These regulatory compliance rules are increasingly complex and potentially costly if you make a mistake.
- You don’t have to offer or manage employee benefits. Ask any HR manager about how little they appreciate handling the complexities of employee benefits, and you’re likely to get an ear full of complaints. Why not turn this over to an EOR?
- We can handle tricky payroll rules. These rules grow even more complex as you cross state lines. Like labor compliance rules, Payroll and tax regulations can change the state and the jurisdiction. It’s hard to keep up with these variances and changes. But an EOR takes this off your plate completely.
- EORs also handle employee orientation. This is a time-consuming set of tasks that are critical for setting a new employee off on the right foot. Ensuring the proper kind of employee orientation sets up your workforce for a more successful tenure in your company.
- EORs can help you cut the costs necessary to set up shop across state lines. We cut the costs associated with finding talent, too. Ultimately, EORs save you money.
- EORs free up your HR team to work on other initiatives. Dealing with HR issues and talent acquisition is hugely complicated and time consuming. But what if your HR team could eliminate all the time they spend on these tasks? Imagine the other kinds of initiatives they could take on, from additional training to improving employee retention.
Ready to Hire an EOR?
EORs cut your risks while increasing your rewards. If these benefits sound like they’re worth exploring, call on Foxhire to see what we do. We can help your business.