Every business needs a strong and skilled workforce in order to flourish. Oftentimes, the process of finding a staff that is best suited for your company is stressful and time-consuming. Hence, the practice of hiring an Employer of Record (EOR) is most convenient for investors who are looking to focus on their business strategies without worrying about the human resource aspect. While Temporary Staffing Services is resorted to by employers looking for short contracts.
What is an Employer of Record?
Excel as an Employer of Record has the legal capacity to hire, renew, and terminate employees as advised by the client, as well as enter into any legal contract on behalf of the client. Excel acting as EOR provides compensation to the employees and everything related to payroll by providing the mandated benefits and ensuring remittance of social contribution. They are not regulated and will act on your behalf depending on your agreement. Among other functions, the EOR also takes care of facilitating the necessary tax returns of the company and the employees and comply with all the necessary documentary and reportorial requirements. This is highly favorable for employers since EORs are more knowledgeable with the employment standards and will act for the benefit of the employer.
What is Temporary Staffing?
Temporary Staffing Services is often utilized when a company is in need of staff for a short, predetermined time and for a specific purpose. This is an arrangement by project and often utilized in order to fulfill a void within the workforce. Since Temporary Staffing is offered as a short-term labor agreement, there is little time for both the employee and employer to flourish a working relationship and align their goals as well as finish a competent training period.
What is the difference?
The Employer of Record must be distinguished from Temporary Staffing Services. The EOR is not the employer of the staff but a third-party in the employer-employee relationship. The company remains to have control over the means and methods by which the work is to be done and only the Human Resources functions are delegated. On the other hand, when a firm employs Temporary Staff Services firms, it may lead to confusion in the job description and not enough time to study the project in order to contribute ideas and solutions for a better outcome. It may also cause friction between the long-term staff and temporary staff for fear of their tenure.
Ideally, hiring an Employer of Record is much more convenient for business investors whose companies do not have a registered entity in the country that they are operating on. EORs are in charge of facilitating the hiring process for their client as well as the payroll, NIS and PAYE on their behalf. This will greatly alleviate the aspect of business operations and delegating it to an expert firm who has the knowledge of local laws and regulations.
If you would like to discuss the benefits of partnering with a human resources firm for Employer of Record services, Recruitment Process Outsourcing, Human Resources and Payroll management, contact our experienced team to explore the options available to you. This will guarantee that you can maximize the potential of your staff in alignment with your project.
About Excel Guyana
Excel Guyana’s Recruiting Division’s dynamic team is the foundation for a fast-growing integrated company focused on offering comprehensive solutions to our clients and partners. Excel is committed to being a vital driver in the development of Guyana and welcomes interest from foreign partners that have skills and products that are essential to Guyana’s growth. It offers services to clients and partners in their recruitment needs including complying with local recruitment policies like the Local Content Registration. In addition, it also offers services to help job seekers in creating promising career paths and find sustainable employment in construction management, procurement and logistics, human resource, accounting, among others.
Excel Guyana is equipped with more than 30 years of experience in helping many businesses in Guyana and the CARICOM region to flourish. Entrusting your business and investments is a delicate process and you can be assured that with more than 10 years of local presence in Guyana, it has established business and supply chain networks in Argentina, Brazil, Canada, China, Colombia, India, Mexico, the United States of America, and Venezuela.
Learn more by calling +592-660-3283 or exploring our services at http://www.exceljobsgy.com.