Why do small and medium-sized businesses need an EOR partner?

91% of the business population is being represented by small and medium-sized companies. With 52% of SME entrepreneurs complaining about labor quality, the chase for talent is becoming really tough. Let’s explore solutions that may aid SMEs to thrive instead of failing

What is an employer of record?

It’s a part of HR services outsourcing that significantly simplifies global expansion for companies of all sizes. It’s a great solution for both big enterprises interested in covering new markets, or smaller companies looking for a skillful workforce overseas and rapid growth.

Management Skills and Human Factors

Managing a growing SME is a complex task, and the prospect of tapping into new markets adds to the complexity. Rapid changes in the business environment require a robust management team that is willing and able to respond to changes. With a growing demand for quality, cost optimization, service, and delivery, the range of required capabilities, techniques, and skills within the SME will grow. Top managers of SMEs may be under pressure to remake their businesses to meet anticipated demands. This is when HR outsourcing comes into play.

Risk and Innovation

To succeed in the changing market environment, SME management must be willing to take carefully evaluated risks to promote innovation and maintain their company’s competitive advantage. Sometimes, trying to maintain the status quo and avoiding risk is, in itself, a risky strategy. Pursuing a diverse customer base can help an SME mitigate some business risk, while the added customer base will inevitably create additional growing demand.

International Growth

Sourcing has become increasingly independent of location. The days of high-stake vacancy matching with a few local talents are going as we speak. Many SMEs now compete with a multitude of competitors worldwide. Increased global demand for customized products and services flows throughout modern markets, requiring flexibility, responsiveness, and the ability to customize.

Building Partnerships

Companies worldwide are creating alliances that are reshaping the basis of competition. Remaining competitive in these changing business environments requires the ability to create appropriate types of partnerships as you go. Partners are companies that agree to work together to achieve specific objectives and share the risks and rewards of their relationship. This is exactly what Acvian offers you today.

Employer of Record for SMEs

Now, let’s see what tasks Acvian solves for the small and medium business owners:

  • Keeping the client updated in terms of local labor laws and organizing all the working processes in compliance with them;
  • Managing all payroll-related matters inside the offshoring country;
  • Bookkeeping and accounting administration;
  • Tax planning and consultation;
  • Administration of employee benefits, such as medical insurance, day-offs, sick leaves, and more;
  • Operating as a shelter for a client during the interaction with authorities of the host country.
  • Swift processing and setup (within 72H per setup)
  • Single point of entry with access to 118 countries
  • Professional consulting
  • Discount system for loyal clients and non-profits.

Employer of Record Services in 118 Countries