An Employer of Record (EOR) is a third-party organization that takes responsibility for all formal employment tasks on behalf of another company. The EOR allows companies to legally and efficiently engage with overseas workers either in a new country or state, without having to set up a local entity or risk violating local employment laws. Hiring an EOR gives the client’s company the opportunity to manage their time more efficiently and effectively.
In businesses expanding market, also come across terms: Professional Employment Organization (PEO) and Global Employment Organization (GEO). A Professional Employment Organization (PEO) also known as an International/Global PEO, allows an enterprise to hire employees in a foreign market without the need of setting up a local entity. Although quite similar to an Employer of Record, a PEO is a service firm that generally offers a more comprehensive range of HR services. A Global Employment Organization (GEO) has properties of an EOR but is more similar to a PEO, in that it allows for the administrative HR burden to be removed from a client and instead be managed by a Global Employment Organization.
Some firms take Employer of Record (EOR) business same as PEO and we abide this attribution in corresponding situation.
This report contains market size and forecasts of Employer of Record in Global, including the following market information:
Global Employer of Record Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Employer of Record market was valued at 4358.4 million in 2021 and is projected to reach US$ 6819.1 million by 2028, at a CAGR of 6.6% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Aggregator Model Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Employer of Record include Adecco, Randstad, Aquent, FoxHire, Infotree Global, Safeguard Global, Velocity Global, Globalization Partners and Shield GEO, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Employer of Record companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Employer of Record Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Employer of Record Market Segment Percentages, by Type, 2021 (%)
Aggregator Model
Wholly Owned Infrastructure Model
Global Employer of Record Market, by End User, 2017-2022, 2023-2028 ($ millions)
Global Employer of Record Market Segment Percentages, by End User, 2021 (%)
SMEs
Large Enterprises
Global Employer of Record Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Employer of Record Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Employer of Record revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Employer of Record revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Adecco
Randstad
Aquent
FoxHire
Infotree Global
Safeguard Global
Velocity Global
Globalization Partners
Shield GEO
Acumen International
Elements Global Services
Papaya Global
Universal Hires
CIIC
Links International
New Horizons Global Partners
Sky Executive