The industry deep dive was conducted by Principal Research Analyst, Pete Tiliakos, and focuses on market dynamics driving adoption, how technology is shaping and impacting the industry and includes an evaluation of companies that are providing services. It also looks at the projected growth of the EOR industry which is expected to reach ~$1.1bn by 2024 as it becomes an increasingly ideal option for growing businesses to compliantly employ talent internationally in support of global expansion activities.
Pete Tiliakos, Principal HR Technology & Services Analyst, NelsonHall, said: “A key differentiator for global employer of record providers is the ownership and careful compliance management of legal entities in as many major countries as possible to provide in-country expertise and increase the quality and control over the customer experience. With 52 legal entities and growing, Globalization Partners offers the most extensive set of employer of record entities globally, combined with a modern technology platform and user experience, which has positioned them as a leader in the market.”
The report highlighted Globalization Partners’ leadership in the following key areas:
- Ability to offer multinational firms a “turnkey” compliant global expansion solution including a rapidly deployable, tech-enabled, HR and payroll delivery model in support of >187 countries with 95% of new client demand managed through its own legal entities;
- Its single proprietary platform technology in support of its global Employer of Record services, including a highly automated, modern, simplified user experience, mobile-enabled ESS/MSS and client tools for managing the employed workers;
- Deep global HR and payroll compliance expertise supported by established legal entities and resources across 52 locations/countries globally;
- Low reliance on 3rd parties, giving it a differentiated level of control over the end-to-end delivery model including compliance, data, and security;
- Strong emphasis and investments in the client/worker experience, maintaining ~97% client satisfaction.
“This NelsonHall research supports what we are seeing in the market – that companies of all sizes are increasingly looking to EORs to easily and compliantly expand to new geographies in order to open up new revenue streams and get access to highly skilled talent outside of their home country of operation,” said Nicole Sahin, CEO and Founder, Globalization Partners. “Our leadership in the market comes from our never-ending commitment to bring our customers a solution that combines the best technology and unprecedented expertise from our own in-county legal entities that fully support our customers’ growth goals in their targeted markets.”
The report also noted that despite the recent global economic impact of the COVID-19 pandemic, buyers of global EOR services show no signs of stopping their expansion efforts, with EMEA and APAC the top targeted geographies for expansion as borders reopen and economies restart.
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About the Report
NelsonHall’s Global Employer of Record (EOR) Services report focuses on the emerging outsourcing service model enabling growing multi-national firms to compliantly employ foreign workers in support of global expansion activities and included a review of the following providers: Globalization Partners, Velocity Global, Safeguard Global, Acumen International, Papaya Global and Shield GEO.
This major NelsonHall study provides in-depth analysis detailing what can be achieved by leveraging the latest global EOR solutions in the marketplace.
NelsonHall is the leading global analyst firm dedicated to helping organizations understand the “art of the possible” in digital operations transformation. It provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. And for vendors, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. NelsonHall’s research is based on rigorous, all-original research, and is widely respected for the quality, depth, and insight of its analysis.
About Globalization Partners
Globalization Partners enables companies to quickly and easily expand internationally across six continents and 187 countries. Our Global Employer of Record (EOR) model allows companies to hire employees in as little as 12 hours without having to navigate complex international legal, tax, and HR issues. When companies find top talent, that team member is put on our locally compliant payroll. We are the most trustworthy solution in the market and offer 24/7/365 premium support services. We have teams and offices worldwide with global headquarters located in Boston and California and regional headquarters in London, Ireland, Singapore and Dubai.
Globalization Partners has consistently attained 97% customer satisfaction ratings by making it easy for companies to go global. To find out more, please visit: globalization-partners.com or connect with us via Twitter, LinkedIn, Facebook, or check out our Blog.
SOURCE Globalization Partners