For today’s enterprise buyers, having a quality EOR (employer of record) and AOR (agent of record) isn’t just something that is “nice to have.” It’s essential for successfully navigating an increasingly complex employment landscape, where compliance miscues can result in costly fines and penalties.
This is especially true today, when the rise of the freelance marketplace has introduced both new opportunities and challenges in the employment market — including the ways people use technology to interact with work. Research from McKinsey reveals that 58 percent of Americans have the opportunity to work from home at least once a week — and 35 percent are able to work remotely five days a week.
In a time when workers and businesses are increasingly embracing technology to streamline workflows and create a more flexible and adaptable work environment, it is only natural that top EOR and AOR partners should also be embracing technology. The right tech can improve outcomes and foster greater trust between enterprise buyers and their EOR and AOR partners.
Information silos can make any partnership far less effective than it should be. Enterprise buyers need visibility into the work their EOR and AOR partners are doing on their behalf to promote trust and accountability. While an EOR and AOR partner would obviously not provide information related to its own back-end operations, it should embrace the opportunities technology offers to give buyers complete visibility into their program and partnership.
As the Indeed Editorial Team notes, information silos can result in redundancy of tasks, the spread of misinformation between team members and organizational inefficiency. Notably, this often occurs due to technology issues, such as “Missing or out-of-date customer relationship management (CRM) systems [or] broken or missing integration between one or more business tools.”
A tech-focused EOR and AOR partner ensures that its tools can be easily accessed by enterprise buyers via the cloud. They work to ensure there is no gap between tools that hinders communications or visibility. They ensure that information silos have been effectively removed between buyers and partners.
When this happens, enterprise buyers have all the information they need to develop better strategies for future business growth. This can also spark greater creativity, feedback and collaboration between an enterprise buyer and their EOR and AOR partner. Real-time visibility fosters trust that makes it easier for partners to work together and build a relationship that stands the test of time.
Freelance marketplaces are a unique aspect of today’s work environment, giving enterprise buyers and others a more direct line of access to hiring freelancers. The best freelance marketplaces aim to promote a successful client-freelancer relationship by ensuring timely payment processing so that freelancers and their clients can focus on getting top-quality work and building a lasting, mutually beneficial relationship.
Some EOR and AOR partners are also able to provide access to their own talent acquisition marketplaces with exclusive job requisitions from leading global organizations. These marketplaces allow organizations to create and post job requisitions, review and select qualified candidates and more.
This technology-based service can make a significant difference for enterprise buyers by helping them gain access to talent that would otherwise be completely unavailable. With remote work and digital talent acquisition marketplaces, geography no longer needs to be a determining factor when seeking out top talent.
This allows enterprise buyers to expand their partner networks more effectively, achieving greater flexibility and scalability by providing access to a broader talent pool. Job requisitions can be filled much more quickly, helping to maximize productivity. By leveraging marketplaces to get the right talent into the right positions, enterprise buyers will be better equipped to deliver quality outcomes to their own clients.
Not all enterprise buyers have the same reporting needs — and that’s certainly not a bad thing. After all, every organization is different. The industry an enterprise buyer operates in, the size of their organization and the type of labor they use can vary dramatically from those of another company that works with the same EOR and AOR partner.
Because of this, the KPIs that matter most to an enterprise buyer can also vary. For example, an organization that has been experiencing issues with payroll processing may be most focused on metrics like staff time required to complete payroll-related tasks, as well as the number of payroll errors that occur and how long it takes to correct them. On the other hand, other enterprise buyers may be more concerned about the length of time it takes to fill open job requisitions.
The reporting needs can be as varied as the enterprise buyers themselves. EOR and AOR partners that use technology to track data on their activities must also be able to provide robust reporting options to enterprise buyers. In-depth reports that are focused on prioritized KPIs illustrate whether an EOR and AOR partner is delivering the outcomes they need.
Reporting metrics in a way that is easy to understand and glean insights from will enable enterprise buyers to move forward with confidence as they work with their EOR and AOR partner to address a variety of HR-related concerns. Reports that are regularly updated with real-time data based on the partner’s activities will allow for faster and more accurate decision-making.
myBasePay Is Your Tech-Savvy EOR and AOR Partner
Today’s technology options can be a true advantage, especially when so many in the staffing industry continue to lag behind in fully embracing and implementing the latest tech tools.
By making the most of applicable technology, enterprise buyers can enjoy improved communication, transparency and accountability. They can have greater confidence in their EOR and AOR partner’s ability to deliver dependable compliance.
With myBasePay as your EOR and AOR partner, enterprise buyers can enjoy a full suite of back-office solutions backed by technology that makes a difference. Our customized infrastructure aims to provide a platform technology experience that seamlessly integrates with your organization so you can have the necessary infrastructure to succeed in a fast-paced business environment.
Author: Cesar Jimenez, myBasePay CEO
Cesar A. Jimenez is an entrepreneur, investor, and military veteran with over 25 years of staffing industry expertise successfully leading technology staffing organizations. His expertise in the IT industry allows him to use his experience as a thought leader for talent acquisition, staffing, IT, and recruitment technologies with a passion for contingent workforce solutions. Cesar has held various leadership roles for both a global staffing organization and technology solutions companies. This expertise has enabled him to develop alternative workforce models that provide the agility for organizations to be competitive in today’s marketplace. In his spare time, he enjoys spending time with hisfamily, working out, and coaching high school baseball players.