How can an employer of record help organizations and industries access top talent with niche expertise in the global talent market?
What is an Employer of Record (EOR)?
An EOR works on behalf of an organization to legally manage employees across international borders. Think of them as your international HR who has the knowledge and expertise to manage compliance with the various labor laws and requirements of every country.
As an experienced and trusted domestic (USA & Canada) and global partner for your remote and in-office workers, CXC acts as the Employer of Record (EOR) in each country where your workers need to work.
CXC will help you with:
- Reducing the cost and hassle of setting up an in-country business
- Understanding the risk and compliance issues when engaging a global remote worker and how to pay them in their local currency
- Navigating global labor laws
CXC’s cloud-based worker platform MyCXC, enables onboarding, benefits management, employer and employee taxation and compliant payroll in local currency.
We help future-proof your workforce
The global employer of record is the future of international employment. What does the future of work look like? It’s already happening now as a new generation of employees enters the workforce and new technologies transform how we deliver work.
Let’s look at the top workplace trends we will see in 2023 that will continue to influence and shape the future of work:
1. Normalization of remote and hybrid work
Hybrid work is the future of most companies. Flexibility is one of the top priorities that employees consider now when looking for work. According to a report conducted by Accenture, 63% of high-revenue companies are now embracing hybrid work. A lot of organizations have remodeled their offices to incorporate versatile spaces to strengthen employee engagement and support their workplace needs.
2. Next-generation technologies and AI-powered tools
Artificial intelligence is just one of the many next-generation technologies that are transforming how we live and work. Powerful software tools are being released every now and then to continue improving work processes and systems and keep up with the demands of every industry. Aside from AI, automation and employee management apps are giving employees ownership and control of their data.
3. Boosting employee skills through reskilling
Next-generation technologies require a new set of knowledge and skills from present and future employees. Organizations need to rethink their workforce strategies in order to keep up with the rapid transformation of workplace tools and the ever-changing demands of the global market. Especially now that almost 87% of the companies worldwide are experiencing or will experience a skills gap in the next few years.
4. Heightened focus on Diversity, Equity & Inclusion (DE&I)
DE&I in the workplace contributes to a more sense of belonging for employees. They want to feel safe and respected, which helps in boosting their confidence and productivity. In addition, businesses are now realizing how diversity leads to innovative solutions coming from different perspectives. According to a Forbes report, inclusive companies who advocate DE&I are more likely to reach their financial target goals by up to 120%.
5. Increased focus on employee wellness and benefits
Incentivizing employees to take part in regular fitness programs and mental health support helps address problems of employee burnout and stress. Employees appreciate when companies care about their health and well-being through these kinds of employee assistance programs. It helps increase employee engagement, productivity and satisfaction.
Download our FREE eBook about Global Employer of Record Services. 👇
CXC has been championing the global contingent workforce. Our strong experience in local and international compliance, payroll and other human resources functions for over 30 years makes us a leader in contingent workforce management. Learn more about our end-to-end solutions and let us know how we can help your business be future-ready.