EOR services help companies to start business operations overseas without the requirement of setting up an entity there because it allows them to legally hire employees through the EOR service provider while being fully compliant with the laws and regulations. Below are the reasons why EOR services have become increasingly popular globally.
Cost-saving: EOR services enable companies to reduce the expenses of hiring experts in-house from certain fields such as Human Resources, Administration, Tax, Compliance, and Government Relations because the outsourcing vendor will take care of end-to-end services for hiring employees according to the country’s employment and tax laws with one fixed cost.
Grow your business fast: Naturally, companies will be able to focus more on their core business when HR compliance matters are not a headache anymore. In addition, there is a chance that the decision on expanding or holding back the business on the ground will be easier to make based on the results of the operation before the company is registered, saving the company money and time.
Lesser risks: It is not easy to master the actual practices and nature of the government offices in a new region as they are usually different from one country to another. Not knowing them may cost companies extra money in fines and penalties as well as objections on the approvals that lead to the increased usage of time and energy. EOR service providers are already familiar with how the government offices work, and it makes more sense to let them handle the areas they specialize in, rather than the company trying to do it themselves without any realization of the reality of how challenging it can be.
Full control: While managing the employees remotely, EOR service providers will allow companies to have full control over the employees although the EOR service providers act as the employer of record. That is why, companies do not need to worry about the provider’s influence on the employees, work activities, and performance.
Cambodia Payroll & Outsourcing (CP&O) is a trusted EOR service partner for many local and international clients in Cambodia. It provides the best customer service, and the team is composed of the most experienced payroll & tax experts in the fields. Please contact at [email protected] for more information.