The Hidden Costs of Building a Global Team Without an EOR
Key Takeaways:
1. You should set up legal entities in multiple countries to hire remote employees legally. This can cost tens of thousands of dollars in registration fees and ongoing compliance.
2. Payroll, benefits, and labor law compliance vary by country. It can lead to unexpected expenses for global employers.
3. An Employer of Record (EOR) helps businesses reduce costs. They handle legal, payroll, and HR compliance and reduce the need for costly local entities.