Establishing a distributed remote team in North America comes with challenges like hiring the right talent, managing their payroll, staying compliant with the local laws, amongst others. These essential tasks can be very time-consuming and expensive.
With an Employer of Record (EOR) in North America, you can now have a team of your own without setting up a local legal entity. Skuad is an Employer of Record that helps you simplify hiring and compensation of full-time employees in a foreign country.
Key Payroll and Hiring Trends in North America
A Deloitte Payroll Operations Survey was completed by experienced individuals from a variety of sectors who are directly involved with their businesses' payroll functions. The poll included 58 enterprises including both global and domestic organizations. The firms ranged in size from fewer than 200 active employees to more than 300,000.
The following are some of the survey’s findings and trends:
- The majority of businesses centralized payroll into a shared service center in North America.
- 90% of firms use online payroll self-service.
- There is increasing interest in cloud-based apps, although global payroll solutions are restricted at this time.
- Time and attendance systems are the most often used workforce management technology, with 84% of respondents using them. Although 74% of firms have completely documented pay rules, 68% believe they are just getting started or are currently building their labor-management plan.
- According to Gartner's 2020 ReimagineHR Employee Survey, firms that assist employees with their life experiences experienced a substantial increase (more than 20%) in the proportion of employees reporting improved mental and physical health.
- When compared to companies that do not provide the same amount of support to their employees, helpful employers may experience a 21% increase in the number of top achievers.
- Employees increasingly want to work for organizations that share their cultural values. According to a Gartner survey, 74% of employees believe their organization will get more actively involved in current cultural issues by 2020.
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How does an employer of record (EOR) work?
Skuad is an Employer of record in North America, which serves as a Global HR Platform for companies looking to hire and pay remote talent. Partnering with an employer of record allows organizations to legally and effortlessly hire the best talent in North America, without setting up a local legal entity. Skuad manages the hiring and onboarding of employees, runs payroll and provides statutory benefits, gives ongoing legal and HR support, and much more.
Skuad provides Employer of Record services in the following North-American countries:
Talk to our People Ops experts to discuss your requirements and see how Skuad can help. Book a demo today!