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The global Employer of Record Platform market size is expected to reach $ 6877.6 million by 2030, rising at a market growth of 6.5% CAGR during the forecast period (2024-2030).

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According to our (Global Info Research) latest study, the global Employer of Record Platform market size was valued at USD 4423.6 million in 2023 and is forecast to a readjusted size of USD 6877.6 million by 2030 with a CAGR of 6.5% during review period.

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An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client’s company the opportunity to manage their time more efficiently and effectively. Employer of Record is legally responsible for paying employees, including dealing with employee taxes, benefits, insurance, visa application, and sponsorship applications and a great many other transactions and operations concerning human resources. In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO). A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization. Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.

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The global Employer of Record Platform market size is expected to reach $ 6877.6 million by 2029, rising at a market growth of 6.5% CAGR during the forecast period (2023-2029).

USD4480.00

Add To Cart