Employer of Record in South America
Establishing a distributed remote team in South America comes with challenges like hiring the right talent, managing their payroll, staying compliant with local laws, and more. These tasks are essential, but also very daunting.
With an Employer of Record (EOR) in South America, you can now have a team of your own without setting up a local legal entity. Skuad is an Employer of Record that simplifies hiring and compensation of full-time employees in a foreign country.
Key Payroll and Hiring trends in South America
Market.us, one of the world's leading market research businesses, has published a new recent study on South America Payroll Outsourcing that is based on business intelligence, customer preferences, and statistical surveys.
- The demand for spirits has progressively increased.
- Aside from that, the study depicts the fundamental challenges and innovative expansion tactics taken by market leading competitors.
- This research study is a significant source of understanding data for company plans, growth analysis, historical and projected cost data, demand and supply data, and so on.
- The worldwide South America Payroll Outsourcing market is expected to reach USD 827 million by 2028, up from USD 595.8 million in 2018, with a high growth rate of more than 3.7 percent over the forecast period 2021-2030.
The following forecasts and conclusions were made on October 7, 2021, according to a study issued by Statista Research Department:
- Employment increase in the United States by industry, 2020-2030
By 2030, the number of employees working in health care and social assistance will have increased by roughly 3.32 million compared to the number employed in 2020. In contrast, the federal government is forecast to eliminate 681,000 positions by 2030.
- Projections for the unemployment rate in the United States from 2020 to 2031
The US unemployment rate has been progressively dropping since the 2008 financial crisis, but it is anticipated to climb to 8.1 percent in 2020 as a result of the COVID-19 pandemic. However, this rate is predicted to return to normal levels immediately before climbing to 4.5 percent by 2031.
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How does an employer of record (EOR) work?
Skuad is an Employer of record in South 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 South 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 South-American countries:
Talk to our People Ops experts to discuss your requirements and see how Skuad can help. Book a demo today!