In 2023, many organizations exist to assist business heads and entrepreneurs in managing their companies efficiently. EORs and PEO providers are two of the most prominent contenders in business management, helping companies with workforce organization while executives focus on client acquisition and company deliverables.
For small businesses seeking qualified workers, outsourcing procurement teams is an example of this role. These employees quickly respond to unexpected problems or projects with tight deadlines.
To maximize workforce management for your business, EORs and PEOs are the best providers to assist you. Here is the list of top 15 EOR and PEO companies in 2023: Deel, Globalization Partners, Remote, Booth & Partners, Shield Geo, Horizons, FoxHire, Omnipresent, Elements Global Services, Global Expansion, Oyster HR, Velocity Global, Remofirst, Global PEO Services, and TopSource Worldwide.
What is an EOR?
EORs (Employers of Record) are organizations that oversee another company’s legal responsibilities when it comes to its employees, including talent acquisition, onboarding, and compensation. The EOR is typically named as the employee’s employer on paper, but the client company retains the power and responsibility for daily operations. EORs make it easier for businesses to hire international employees while managing their workforce from inside the country.
PEOs (Professional Employer Organizations) may serve as a company’s HR department, handling functions such as payroll, employee benefits, and 401(k)s to lessen the burden on the company. PEOs primarily focus on providing HR service support and do not show up on any employee’s records.
EORs and PEOs help businesses lessen their internal tasks by taking on complex functions, particularly workforce management. This allows their clients to be more flexible and focused on their core services. By providing greater focus through a streamlined process that requires minimal work from employees, employers can make better decisions with fewer staff members.
Functions shared by EORs and PEOs include risk management, payroll services (including payroll processing and benefits administration), employee benefits management, and HR administration. Despite their differences, EORs and PEOs work together as entities to help businesses be more flexible and focus on their core services.
The following is a list of the top 15 EOR and PEO companies in 2023:
- Globalization Partners
- Booth & Partners
- Shield Geo
- Elements Global Services
- Global Expansion
- Velocity Global
- Global PEO services
- TopSource Worldwide
These companies specialize in providing EOR and PEO services to help businesses manage their workforce more effectively, streamline their operations, and focus on their core services. They offer a range of services including risk management, payroll services, employee benefits management, and HR administration.
Deel is a company that specializes in providing EOR and PEO services to help businesses hire and manage international employees. With companies increasingly hiring offshore workers, Deel offers a comprehensive dashboard to manage employees across 150 countries, allowing businesses to stay on top of trends and start a distributed workforce.
Globalization Partners, on the other hand, has in-country teams available to assist businesses with their global hiring needs. They offer end-to-end control over their services with no delays and provide a full-stack employment platform using AI-driven technology from anywhere in the world.
Both Deel and Globalization Partners are top EOR and PEO providers in 2023 and offer a range of services to help businesses overcome hurdles when it comes to hiring international employees, allowing them to focus on their core services and stay ahead of the competition.
Remote is a company that offers virtual HR solutions to both local and multinational companies. They provide high-quality support for human resource management, including payroll processing, talent acquisition, and benefits administration.
Remote is currently developing a global employee API platform that will allow businesses to connect their employee and payroll data across their entire HR system. This new platform is expected to make HR management even more streamlined and efficient for businesses of all sizes.
Booth & Partners is a Philippines-based company that offers customized outsourcing services to small and medium-sized businesses worldwide. Their team of experts helps clients improve their company focus, optimize asset utilization, and increase corporate value. With Booth & Partners’ assistance, clients can complete their workloads on time without any hassle. The company has global partnerships with clients in the United States, Canada, Australia, the United Kingdom, and Singapore.
Shield Geo, now a part of Velocity Global, remains dedicated to providing its services. Shield Geo handles local payroll, tax compliance, and assists with testing new international markets. Co-founder Tim Burgess spoke on the Outsource Accelerator Podcast about the company’s approach to simplifying global employment.
Horizons is a global PEO & SaaS platform with expert-based global hiring services. With global expansion experts located on every continent and 360-degree international HR services, Horizons is a trusted international hiring partner in over 150 countries. The company has extensive offices throughout EMEA, APAC, and the Americas, providing accurate and timely feedback on various HR issues.
FoxHire is an Employer of Record (EOR) platform that helps recruiters, staffing firms, and corporate HR departments hire contract, temporary, and remote employees. FoxHire handles all legal, financial, and administrative tasks associated with new hires, eliminating back-office tasks for recruiters and HR leaders. While the firm specializes in healthcare, IT, and education, it can assist recruiters in almost any industry and state.
Omnipresent helps companies overcome the most difficult procedures of hiring an international team. As its name implies, Omnipresent provides real-time support for issues and concerns, including locally compliant benefit packages to comprehensive invoices.
Elements Global Services is an EOR organization that provides basic and comprehensive services across various industries, from tech and startups to non-profit organizations. They handle work visas, permits, and legal paperwork for their clients.
Global Expansion provides full HR support and pre-employment background checks to help businesses acquire international talent. The company aims to get the best talents from anywhere in the world and serves 214 countries as of date.
Oyster HR offers a free plan for startup businesses that includes basic functions and two contractors. The company is perfect for firms starting to venture out of their local talent pool.
Velocity Global provides world-class human resources support to clients in over 185 countries, helping them tap into new markets and talent. The company has a people-first approach to hiring and onboarding that brings out the best in prospective candidates.
Remofirst is a global EOR service provider that helps employers hire and manage full-time employees or global contractors in 150+ countries, eliminating the need to set up a local entity in every country they source talent from. They also provide international payroll and invoice management, global benefits management, and employee support for obtaining visas and other immigration documentation. Their team of legal experts and HR professionals ensures compliance with changing global regulations in every country where clients hire.
Global PEO Services helps companies test international waters before committing. They handle the legal paperwork for hiring and employing people outside of the client’s country.
TopSource Worldwide provides complete solutions for all international employment needs. Their team of experts guides clients through payroll requirements and expansion journeys, offering involved and hands-on support for hiring, HR, payroll, legal issues, and employee benefits. The company can help smooth out complexities associated with operating across multiple countries and guarantee seamless compliance while keeping costs down.
Outsourcing has a positive effect on companies, with HR outsourcing agencies helping lessen worries about international employment, taxes, and regulations. Professional Employer Organization firms function as their own entity and handle their own services without requiring third-party providers.
How outsourcing affects companies in the long run
As mentioned briefly above, a Professional Employer Organization firm practices as an outsourcing company. But that doesn’t mean that they too employ third-party service providers.
Most, if not, all PEOs function exclusively as their own entity. They can handle their own services without needing another third-party provider.
Outsourcing does have an effect on companies—a positive one on that.
From lessening the worries for international employment to taxes and regulation, HR outsourcing agencies are there to help you out.