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.
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.
The global Employer of Record market size is projected to reach US$ 6604.4 million by 2028, from US$ 4299.1 million in 2021, at a CAGR of 6.8% during 2022-2028.
The major players in global employer of record market include Adecco, Randstad, etc. The top 2 players occupy about 10% shares of the global market.North America is main markets, which occupies about 4% of the global market.In terms of product, aggregator model is the largest segment, with a share over 65%. And in terms of application, the largest application is SMEs, followed by large enterprises.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Employer of Record market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Employer of Record market in terms of revenue.
Overall, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Employer of Record market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Employer of Record market.
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Employer of Record market is segmented by players, region (country), by Type and by End User. Players, stakeholders, and other participants in the global Employer of Record market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by End User for the period 2017-2028.
Segment by Type
- Aggregator Model
- Wholly Owned Infrastructure Model
Segment by Application
- Large Enterprises
- Infotree Global
- Safeguard Global
- Velocity Global
- Globalization Partners
- Shield Geo
- Acumen International
- Remote Team (Gusto)
- Remote Technology
- Elements Global Services
- Papaya Global
- Universal Hires
- Links International
- New Horizons Global Partners
- Sky Executive
Production by Region
- North America
Consumption by Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Russia)
- Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, UAE)
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