Globalization Partners, which simplifies global business by enabling companies to hire talent in 180+ countries without the complexity of setting up international branch offices or subsidiaries, today announced it has been named an Employer of Record (EOR) industry leader by research firm, NelsonHall, in its first-ever Global Employer of Record Services research report.
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.