An employer of record (EOR) plays a valuable role in today’s hiring environment. By serving as the designated employer for contingent workers, the EOR assumes the liabilities and responsibilities of employment, including payroll processing, tax withholding, benefits administration and more. As the contingent workforce continues to grow and companies increasingly rely on a globally diverse…
When addressing your organization’s hiring needs, two of the most common options are an MSP (managed service provider) and EOR (employer of record). Of the 5 trillion global gig workforce, around 70% consists of independent contractors (IC) and digital workforce management, while direct sourcing and SOW account for 20%. Less than 2% of global…
In today’s business environment, contingent workers have become an essential part of many companies’ workforces. In fact, a survey by Staffing Industry Analysts found that 65% of companies planned to increase their use of contingent workers in 2024 and 2025 — and that 80% already used contingent workers in some capacity. Despite the increased usage…
To say that 2024’s labor market has been turbulent feels like an understatement. From turmoil on Wall Street and the uncertainty that always surrounds a presidential election year to the headline-grabbing layoffs in tech, it is understandable for there to be concern surrounding the economy and the state of labor in general. Despite the year’s…
Contracts are an essential part of every business. These legally binding agreements influence everything from which service providers you use to how you deliver your own products or services to your own clients. Contracts may be important with clients and suppliers, but they are even more crucial for your workforce, particularly if you use many…
Today’s business environment is extremely competitive, with globalization and technology creating new disruptions in the ways companies find and use talent. To maximize your own business’s chances for success, you need to be able to access top talent, no matter where they live. While smaller businesses often are disadvantaged in comparison to larger firms, that…
Weston, FL., August 29, 2024 – myBasePay, the Employer of Record (EOR) helping staffing firms and enterprises build compliant and comprehensive contingent workforces, has received its National Minority Supplier Development Council (NMSDC) certification. The NMSDC certification recognizes businesses that are at least 51% owned, managed, and controlled by a qualified minority group member. myBasePay is…
Nearshoring: A Strategic Talent Solution Nearshore outsourcing has become a hot topic, offering companies a way to access top talent at a competitive cost. It’s more than just a passing trend; nearshoring is transforming the contingent workforce and attracting significant attention from companies of all sizes. The Numbers Tell the Story Latin America is currently…
The global pandemic has redefined the term “uncertainty.” Companies all over the world had to suddenly adapt to overwhelmingly unprecedented levels of changeable events. Shipping delays, logistical disruptions, and material and labor shortages were just a few crises that caught business leaders off guard. As a consequence, these events led many to discover just how…
In recent years, there’s been a significant shift in the way companies hire employees for their workforce. The traditional methods of conducting business through brick-and-mortar offices full of permanent employees are gone. Now, contractors, freelancers, consultants, and other contingent workers have experienced a rapid increase in demand. These types of workers are typically hired on…
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