EOR services market hits $35Bn globally
CALIFORNIA, UNITED STATES — Global spending on employer-of-record (EOR) services is estimated to range from $25 billion to $35 billion, according to a report by Staffing Industry Analysts (SIA).
This uptick is attributed to the intricate legal environment, increasing concerns over misclassification, and the rise of talent platforms for direct sourcing and management.
SIA’s research analyzed 11 EOR companies, which supplied data for analysis. However, the report also noted over 100 employer-of-record providers worldwide.
EORs act as administrative employers for workers recruited by end-users, ensuring compliance with local regulations. This model allows companies to legally onboard talent in new regions without setting up a dedicated entity or risking legal breaches.
Services offered by EOR companies often encompass onboarding, payroll management, provision of benefits, time management, and other administrative duties.
