Today’s levels of globalization and enhanced international communication has meant that even small companies can now access parts of the world they wouldn’t have been able to just a half century ago.
This has led to the development of Employer of Record (EOR) services, which provide smaller companies with the means to expand their operations across the planet. EOR platforms offer services like payroll, remote contractors, and benefits management.
But as the EOR market becomes more and more saturated, it can be difficult to decide which service deserves your business. What’s more, it’s common to show a little distrust for unfamiliar software, which is why we’ve put together a list of the best EOR platforms out there.
So, without further ado, let’s dive into the definitive 5 top-rated EOR services in the current market.
What are the best Employer of Record services?
It goes without saying that the best EOR services are equipped with multiple useful features that your company can benefit from. That way, you can be sure you’re getting a substantial service with proven results.
That said, sometimes you might only have one requirement of an EOR platform. In that case, it’s best to find a company focusing solely on that service. For instance, if it’s simply a payroll service you need, there’s little point in going to a remote contractor specialist.
And, of course, the best EOR platforms should be within budget. These types of services are largely used by small businesses as a cheaper alternative to managing their own outsourcing operations, so they need to be cost-effective.
Our list of the best EOR companies includes many that provide cheap yet comprehensive services – ideal for small to medium-sized businesses. Discover the ultimate list of the top 5 Employer of Record services below:
For all the EOR services available, there is still one question that all prospective buyers of EOR software want the answer to: Where is the time-tracking feature?
The truth is that many providers don’t offer time-tracking capabilities and seem to disregard the transparency and productivity that this type of software enables. But Time Doctor is different.
Time Doctor is an exceptional project management, outsourcing, and payroll service all rolled into one. It’s utilized by large and small companies alike to boost productivity and simplify international business operations.
Its sophisticated integration capabilities make it an incredibly useful piece of software that provides everything you could hope for from an EOR service and more. For a more detailed insight, let’s check out some of its key features:
A. Payroll Integration
With verified timesheets and customizable features, the payroll integrations from Time Doctor are incredibly helpful in reducing the manual labor usually involved in paying employees across your company.
All you have to do is activate the payroll function by heading to Settings / Company Settings and look for the Use Payroll slider in the section labeled Configurations.
A new Payroll tab will become available at the top. Clicking on this will bring you to the right page and allow you to access any payroll-related aspects you may want to generate, manage, or share.
Note: Only certain people are allowed to access the payroll. You can change this in Settings.
B. Staff Leasing
Time Doctor’s remote staff management tools allow you to track your employees’ work habits without being invasive. They offer valuable insights into your workers’ productivity levels and day-to-day efficiencies.
In this way, you can manage your remote team from wherever you are in the world and ensure they are working as effectively as possible. This also creates transparency and accountability in your business operations, allowing you to place bigger trust in your remote staff in terms of flexible working environments.
It also enables you to win clients by offering them proof of productivity in your company. Watch your profits and performance skyrocket with Time Doctor’s comprehensive EOR service.
C. Time Tracking
Without time tracking software, it’s hard to quantify the amount of work your offshore team produces. You never know if your employees will meet their deadlines, and it’s difficult to hold them accountable and put all your trust in them, however much you would like to.
But with employee time tracking software from Time Doctor, you’ll be able to optimize your business processes by monitoring efficiency and workload without invading your workers’ privacy.
Deel is a prominent EOR platform that’s at the forefront of its industry. It incorporates a number of different services to provide one of the most extensive and sophisticated software solutions out there, and is used by some extremely high-profile clients. It has been designed to help businesses of all sizes manage their payroll and HR processes in one place, reducing the need for multiple tools and systems.
- Access to talent around the world.
- User-friendly interface for easy payroll and HR management.
- Global reach with support for 50+ countries.
- Comprehensive services, including payroll processing, employee benefits, and tax compliance.
- Tools for effective employee management, such as onboarding and offboarding, time tracking, and self-service portals.
- Massively reduced onboarding times.
- Simple and dignified offboarding.
- Focus on data security and privacy.
- High level of customization.
To hire remote contractors and access other EOR services, prices start from just $49 per month.
With a focus on global HR and benefits management, Remote is another high-profile EOR service that offers exceptional offshore management capabilities. The platform that has been created to connect companies with remote workers and help them manage them.
- Hire incredible offshore talent.
- Pay your employees compliantly anywhere in the world.
- Cost calculator services.
- Localized benefits to suit remote teams.
- Offers tools for managing remote teams.
- Features a range of remote job listings.
Remote is relatively cheap if you’re paying by the contractor. It’s $29 per month if you pay this way.
Employment Hero is a cloud-based HR and payroll platform that boasts award-winning payroll software and EOR services beyond standard offerings. As well as HR and benefits management, they handle leave accruals and requests, shift scheduling, and attendance records. It focuses on streamlining HR processes and improving employee experience.
- Seamlessly integrated platforms and services.
- Automated and compliant payroll solution.
- Easy hiring and access to global talent.
- Fast-growing company with multiple awards and recognition.
- Streamlines HR processes, including payroll, benefits, and also includes some time tracking capabilities.
- Offers employee self-service portal.
- Customizable to fit business needs.
- Features a range of HR resources and support.
Their HR Standard plan comes in at $8 per employee per month, their HR Premium is $11 per month, and their HR Platinum is $15 every month.
Offering rapid growth prospects and a wealth of resources, Oyster is a great EOR choice if you’re a small or medium-sized business looking to expand internationally. It helps businesses manage HR processes, employee information, and benefits administration, and compliance.
- Stay up-to-date with labor laws and compliance requirements, including COBRA, ACA, and more.
- Friendly team with great customer support.
- Access to free HR tools and a wide range of EOR services.
- Keep track of employee information, job titles, and other HR-related data.
- Manage employee benefits, including health insurance, pension plans, and others.
- Streamline onboarding and offboarding.
- Automate time off requests, approvals, and tracking.
- Customizable to fit business needs.
- Evaluate employee performance and provide feedback.
Custom pricing options are available, but for a single contractor, it costs just $29 per month.
Employer of Record services are abundant, but only certain ones can provide adequate and reliable software to manage offshore teams. Despite the sophistication of many EOR platforms, none come close to the extent and sheer helpfulness of Time Doctor with its automated time tracking services, payroll, staff leasing opportunities, and proven benefits for productivity, performance, and profit.
What’s more, there’s a free 14-day trial going, so why not try it out today? We guarantee you’ll see results for your company, no matter your size or needs.