There are various benefits of hiring an employer of record or staffing agency instead of directly hiring your employees. Hiring through the eor saves the time and effort to recruit one’s employees; it also helps them to engage qualified people for required positions without any hassle. It’s easy, fast, affordable, and boosts productivity which is why more than 80 percent of companies prefer hiring EORs. Let’s explore some other benefits one can avail by working with an employment agency:
Benefits of employer of record services
1) Save Time & Effort
Hiring through a staffing agency means that the recruitment process has already been done by them. The agency will not only help one search for suitable candidates but they will also negotiate salaries, train and work with their new employees, and manage them at every level. This way they don’t have to go through the hiring process again and again.
2) Access Highly-Qualified Candidates
Many companies approach third-party agencies as they can easily find highly qualified candidates for their open positions. A headhunter agency has several job seekers or contractors registered with them who meet specific criteria like skills, location, experience etcetera. They deliver per requirement and also save one’s time in recruiting skilled professionals.
3) Save Money on Advertising & Recruitment Process
Hiring through an employment agency is less expensive than hiring directly from the market as most agencies charge a fee only if they successfully place someone with them or if the candidate lasts at least 90 days. This way they don’t have to spend much on advertising, screening, interviewing and another recruitment process which saves time also.
4) Work with Best Agency
Hiring through a staffing agency is beneficial as they will provide be the best cost-effective option for hiring new employees. One can search online using the keyword ‘staffing’ or ‘job agencies’. Also, ask their peers about their experience with various EORs in their targeted location.
5) Flexible Employment Relationship
An employer of record relationship gives maximum flexibility to both parties, it allows employers to engage an employment agency without having to make any long-term commitment while giving the agency freedom to grow their service portfolio by adding more clients with the help of their existing clients. It also helps them hire, manage and terminate employees within a few minutes without signing any contract or hiring paperwork.
6) Occupational Health & Safety
Eors are experts in managing labour supply at reduced risk to one which means they can assist their business by engaging the best candidates for job rotation, exploring new technology with the candidates, providing orientation training to recruits etcetera. They can provide integrated services that help keep their workforce healthy and safe while delivering productivity benefits.
7) Compliance Assistance
Many EORs provide compliance assistance like hiring incentives to restore employment act reporting or parental employment leave act reporting through online payroll providers who are experts in handling compliance services.
8) Flexible Productivity
EORs provide a variety of workforce solutions that can help one’s business with flexible productivity through their comprehensive service offerings, skilled resources, and unique industry expertise. They offer various options for scheduling work hours, providing on-demand employees, employees with experience in different time zones etcetera which is helpful to achieve higher productivity without putting in extra efforts.
9) Get Guaranteed Employee Performance & Service Levels
Employers who hire directly from the market are entitled to get minimum guaranteed employee performance and service levels like a minimum number of work hours per week or a minimum number of days worked per month etcetera. They endeavor to provide all employees who meet their skill, training, and experience requirements.
10) Add New Skillsets to Your Workforce
EORs can help one add new skillsets to their workforce through their skilled resources which are available in many specialties. They will assist in providing employees with industry experience, language skills, and government-issued credentials.
11) Increase Employee Satisfaction & Engagement Levels
One can expect increased employee satisfaction and engagement levels when hiring through an eor as they provide a variety of options for scheduling work hours, providing on-demand employees etcetera which is helpful to the organization in achieving higher productivity without putting extra effort.
12) Save Time & Efforts for Recruitment Process
The use of an executive search or employment agency helps one save time and effort for the recruitment process which is one of the most time-consuming tasks in business.
Employers will be indemnified by staffing agencies when their employees are responsible for an act of malpractice or negligence at work under their insurance policy. It means that client will not sue his company if an employment agency’s employee has caused injury to a third person at one’s workplace.
14) Higher Employee Retention Rate
EORs help one increase employee retention rates with the help of their skilled resources through offering flexible hours, compensation and benefits packages etcetera. This higher retention rate decreases costs by reducing recruiting, hiring, and training expenses while increasing productivity, profitability, and customer satisfaction.
15) Get Better Protection Against Litigation
One can get better protection against litigation with the help of EORs. They provide insurance coverage to their client when they engage an employee under them and if the employees perform some wrongful acts in the workplace leading to injury of a third person, the client will not be liable for any proceedings.
16) Community Benefits
Helping others is important for individuals and organizations which EORs believe in. They want to make the world a better place by initiating community benefits like providing educational opportunities, career counseling, safe migration etcetera they offer their services to the people living in remote areas of developing countries. This can help one build trust among their employees and candidates.
17) Billing by the hour, day or week
EORs will charge one for services provided based on their requirements like billing by the hour, day, or week which is beneficial for companies who want to reduce their flexibility and cost.
18) Client’s Preference
EORs can provide employees that reflect company culture, industry and work ethics which helps achieve client satisfaction and retention through recruiting business-aligned individuals and establishing a positive hiring brand.
These were some fantastic benefits of Employer of Record Solutions which every company should use.