What is an Employer of Record – How Does It Work and Why You Need It

Whether you’re a local Singaporean startup or expanding your business into Singapore, you want to be developing new business ideas and taking your business to new heights instead of being bogged down by human resource (HR) responsibilities and legislation day after day.

Our Employer of Record (EOR) service helps you do just that.

What is an Employer of Record service?

An employer of record (EOR) is a third-party organisation that takes on all employer related liabilities and responsibilities on your behalf.

As your EOR provider, we will handle all your HR related matters such as tax, payroll, HR advisory, sourcing and hiring in compliance with Singapore’s labour regulations, work pass applications and even onboarding/offboarding while you grow your business and serve your customers.

How does an Employer of Record service work?

Unlike a staffing agency, an EOR serves the function of a third-party HR department for your business instead of simply recruiting candidates to meet temporary workforce needs.

While a staffing agency simply fills in worker absences, skill needs and special projects with recruit workers, an EOR screens and hires employees according to your company’s needs and Singapore’s labour regulations, applies for work visas, issues employment contracts, onboards,  and attends to all other HR requirements and responsibilities required of a fully functioning business entity.

What are the benefits of using an Employer of Record?

Outsourcing your human resource work to an EOR ensures you receive ongoing support on latest regulatory changes and stay updated and compliant with local labour laws from the people who know it best.

By tapping into a third-party organisation of human resource experts, you reduce the payroll-processing and related accounting costs that come with building up and maintaining your own in-company human resource department.

These experienced HR consultants are also able to provide trusted personalised assistance based on your unique business needs and requirements while giving you more time to focus on running your business.

What’s special about People Profilers’ EOR Service?

At People Profilers, our EOR service, also known as Payroll Parking, doesn’t just assume an employer’s responsibility for your people, it also allows you to park your employees under our headcount in compliance with Singapore’s labour regulations while we handle all their healthcare insurances, benefits administration and payroll processing on your behalf.

All payroll processing is made simple and convenient through our robust cloud-based payroll system that allows employees to retrieve their payslips, apply for leave, submit timesheets and claims online or through the Payroll App with ease.

Click here to learn more about People Profilers’ EOR/Payroll Parking Service.

Keep accurate employee records, ensure successful CPR contributions, IR21 and IR8A submissions and prepare comprehensive employment contracts with People Profilers today!

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