Who is a global employer of record from INS Global?
INS Global is a company that assists businesses in recruiting employees in foreign countries. As a company grows into new global markets, it may require the recruitment of workers in locations where it does not have a physical presence. An EOR, or “global employer of record,” provides a solution for hiring employees in new markets without the need to establish a separate business in that country. This strategy saves costs and eliminates the risk of non-compliance with regulations.
What does a global employer of record UK do from INS Global Consulting?
A global employer of record (EOR) in the UK is a service provider that helps companies hire employees in the UK without having to set up a legal entity in the country. The EOR acts as the official employer of the employee, handling all legal and administrative tasks related to the employment relationship.
Some of the key services offered by a global employer of record in the UK may include payroll management, tax compliance, benefits administration, and HR support. The EOR takes care of all the necessary paperwork and filings related to employment in the UK, such as registering for national insurance and handling employment contracts.
By using a global employer of record in the UK, companies can benefit from a streamlined and compliant process for hiring and managing employees in the country. This can be especially helpful for companies that are looking to expand into the UK market but may not have the resources or expertise to handle all the legal and administrative aspects of employment on their own.
In addition, working with a global employer of record in the UK can help companies to reduce their risk of non-compliance with UK employment laws and regulations, which can result in costly penalties and legal disputes. Overall, a global employer of record in the UK can provide companies with a cost-effective and efficient way to manage their workforce in the country.
When to use a “Record of Employer”
A “Record of Employer” or “Employer of Record” (EOR) is typically used when a company is expanding its operations to a new country and needs to hire employees quickly and efficiently without establishing a legal entity in that country. EOR services allow companies to outsource their payroll, HR, and compliance functions to a third-party provider, which acts as the legal employer of the company’s workers in the new country.
Companies may also use EOR services when they need to hire contract or temporary workers in a foreign country, but do not want to set up a legal entity or have the administrative burden of managing these workers themselves. EOR services can also be useful when a company is undergoing a merger or acquisition and needs to quickly onboard new employees in a foreign country.
By using an EOR, companies can save time and money on legal and administrative processes associated with setting up a new entity in a foreign country, as well as the ongoing management of payroll, taxes, and compliance. EOR services can also provide companies with local expertise and support to ensure compliance with local employment laws and regulations, and offer a flexible and scalable solution for managing their global workforce.
Use of a global employer of record (EOR) in the UK has 11 benefits.
Here are 11 benefits of using global employer of record services in the UK:
1. Legal compliance: A global employer of record in the UK ensures that your business is in compliance with all UK employment laws and regulations.
2. Cost-effective: It is often more cost-effective to use a global employer of record than to set up a subsidiary or branch office in the UK.
3. Quick entry into the UK market: By using a global employer of record, you can quickly establish a presence in the UK market without the need for a physical office.
4. Time-saving: Global employer of record services can save your business time by handling all employment-related paperwork and processes.
5. Flexibility: You can use global employer of record services on a short-term or long-term basis, depending on your business needs.
6. Access to local expertise: A global employer of record in the UK provides access to local experts who can advise on employment law, taxation, and other regulations.
7. Risk mitigation: By using a global employer of record, your business can reduce its risk of non-compliance with UK employment laws and regulations.
8. Seamless payroll management: A global employer of record can handle all payroll-related tasks, including calculating taxes, making payments, and maintaining records.
9. Improved focus on core business: Outsourcing employment-related tasks to a global employer of record frees up your time and resources to focus on your core business.
10. Ability to hire local talent: With a global employer of record, you can hire local talent in the UK without needing to establish a physical office or entity.
11. Reduced administrative burden: Global employer of record services can take care of administrative tasks such as issuing employment contracts and handling employee benefits, freeing up your time and resources.