Employer of Record Services Market 2023 Size, Current Insights and Development Trends, Top Key Players, SWOT Analysis and Forecast to 2031

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Employer of Record Services Market

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An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client’s company the opportunity to manage their time more efficiently and effectively. Employer of Record is legally responsible for paying employees, including dealing with employee taxes, benefits, insurance, visa application, and sponsorship applications and a great many other transactions and operations concerning human resources.In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO). A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization. Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.This report focuses on global and United States Employer of Record Services market, also covers the segmentation data of other regions in regional level and county level. Employer of Record Services market size is expected to grow from US$ million in 2021 to US$ million by 2028, at a CAGR of % during the forecast period.Employer of Record Services market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Employer of Record Services market will be able to gain the upper hand as they use the report as a powerful resource.

Major players covered in Employer of Record Services Market are:

• Adecco
• Randstad
• Aquent
• FoxHire
• Infotree Global
• Safeguard Global
• Velocity Global
• Globalization Partners
• Shield GEO
• Acumen International
• Elements Global Services
• Papaya Global
• Universal Hires
• CIIC
• Links International
• New Horizons Global Partners
• Sky Executive

Market Segment by Type:

• Aggregator Model
• Wholly Owned Infrastructure Model

Market Segment by Application:

• SMEs
• Large Enterprises

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