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.
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.
Market Analysis and Insights: Global and United States Employer of Record Market
This report focuses on global and United States Employer of Record market, also covers the segmentation data of other regions in regional level and county level.
Due to the COVID-19 pandemic, the global Employer of Record market size is estimated to be worth US$ 4552.9 million in 2022 and is forecast to a readjusted size of US$ 6794.5 million by 2028 with a CAGR of 6.9% during the review period. Fully considering the economic change by this health crisis, by Type, Aggregator Model accounting for % of the Employer of Record global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While by End User, SMEs was the leading segment, accounting for over percent market share in 2021, and altered to an % CAGR throughout this forecast period.
The major players in global employer of record market include Adecco, Randstad, etc. The top 2 players occupy about 10% shares of the global market.North America is main markets, which occupies about 43% of the global market.
Global Employer of Record Scope and Market Size
Employer of Record market is segmented by region (country), players, by Type and by Application. Players, stakeholders, and other participants in the global Employer of Record market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application for the period 2017-2028.
For United States market, this report focuses on the Employer of Record market size by players, by Type and by End User, for the period 2017-2028. The key players include the global and local players, which play important roles in United States.
Segment by Type
Aggregator Model
Wholly Owned Infrastructure Model
Segment by End User
SMEs
Large Enterprises
By Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE
By Company
Adecco
Randstad
Aquent
FoxHire
Infotree Global
Safeguard Global
Velocity Global
Globalization Partners
Shield GEO
Acumen International
Elements Global Services
Papaya Global
Universal Hires
CIIC
Links International
New Horizons Global Partners
Sky Executive