Velocity Global vs. Globalization Partners

Global expansion is as exciting as it is crucial for every growing organization. Operating in new territories provides invaluable access to new countries and new customers, resulting in a corresponding increase in revenue and profits. However, entry into new markets comes with its complexities.

The challenges organizations face when entering new countries are usually borne by Third-party organizations known as Employers of Record (EORs).

EORs help companies navigate through the complexities of international recruitment, global payroll management, territorial regulations, and tax compliance.

While there are many outstanding and reliable EOR partners, Velocity Global and Globalization Partners are two organizations that have provided excellent services consistently over the years.

Placing a spotlight on these two global Employers of Record (EORs), we will look at their offerings, their unique selling points, and highlight other excellent EOR organizations’ trustworthiness.

Velocity Global

Founded in 2014, Velocity Global has grown to be a global brand recognized for simplifying the process of building distributed global teams. International expansion is a highly complex process that may incur immense time and cost. However, with Velocity Global, their technological solutions offer an avenue for these seemingly complex processes to be broken down, easing the penetration into new markets for the hiring organization.

Velocity Global offers a wide range of services. Their International PEO (Professional Employment Organization) service ensures that organizations grow their teams in new markets at a breakneck pace in a cost-effective manner while remaining compliant with the country’s regulations.

Other services include global payroll, talent acquisition, immigration, consulting, and entry & set up in a new territory.

Globalization Partners

Globalization Partners carved their path on the web by creating Globalpedia — an up-to-date guide on labor laws and regulations. This priceless resource serves as an encyclopedia for organizations and commentators willing to get a glimpse of the state and processes of international expansion.

As a leader in the Employer of Record (EOR) industry, Globalization Partners has enabled organizations to onboard teams in over 185 countries. By recognizing how essential payroll management is, Globalization Partners crafted a seven-step payroll process that has led to the company achieving a 99% payroll accuracy.

Globalization Partners helps organizations hire the best global talents, manage global compliance, penetrate new markets, plan global expansion, and execute international transactions.

While these two are great EOR platforms, alternative players have entered the market with competitive benefits.

Alternative EOR Companies

Papaya Global

From its headquarters in New York, USA, Papaya Global is committed to making remote work simplified with its software that does a seamless job of automating global payroll, payments, and HR services. Their elite lists of client organizations speak of the trust they command in the industry. Their commitment to efficient payroll management has led to the company having an impressive network in 140 countries.

Papaya Global services include helping organizations launch their global strategy, compete for international talent by ensuring effective global equity management, provide competitors comparison services and GDPR compliance.

Skuad

Being one of the popular EOR platforms in South East Asian countries, Skuad’s reputation as a formidable and excellent HR platform has gone global. Skuad’s ideal self-serve platform has afforded different organizations the global infrastructure to build and manage their distributed teams. In over 150 countries, Skuad has a reach for any organization to develop their teams without having to set up a local entity, and manage their end-to-end employee lifecycle effectively.

Skuad services include tailoring global contracts according to any organization’s needs. This global EOR platform enables the seamless onboarding of top international talents, global payroll management, and ensuring organizations remain compliant in their new markets.

Conclusion

Undoubtedly, numerous risks come with entering new markets as a foreign entity. There exist barriers of ease of conducting businesses such as language differences, culture, and even buying habits. However, leveraging Employer of Record services is a sure way of minimizing these risks and ensuring more straightforward access into new markets.