Are you currently working with an employer of record to build and manage a remote team? Do you think you may need a change? Should you find a new employer of record for your tech company? If you have found yourself asking these questions, Truss may be able to help answer them.
Truss provides U.S.-based tech companies with an end-to-end hiring solution that includes serving as your employer of record in Central Asia and other parts of the world. With years of experience as a global EOR provider, Truss has the experience and assets to help you build a capable team of engineers, analysts, developers, and IT professionals that will meet your needs.
Contact Truss today to learn more about our global hiring platform!
READ MORE: The Compliance Challenges of Remote Global Hiring
When Is It Time to Switch Your EOR?
When is it time to find a new employer of record or invest in your own legal entity? You may have been considering it for a variety of reasons — but you may not know when is the right time to switch to a new provider. Tech companies that have been having this debate may see different signs that it is time for a change that include — financial warning signs, operational red flags, and strategic needs.
Financial Warning Signs to Switch Your EOR
How much does your current employer of record provider charge? Are the prices and fees transparent or have you run into hidden charges? Employer of record providers may use different pricing structures that include — a flat fee per employee, a percentage of payroll, or a hybrid pay structure — and as you add more employees to your team, it can change your finances.
Here are a few specific financial warning signs that it may be time to find a new employer of record:
- An increased headcount has led to higher charges and fees.
- Markups on international wire transfers.
- Hidden penalties and fees for routine business procedures.
- Unannounced annual subscription and price increases.
Operational Warning Signs to Switch Your EOR
When you hire remote employees around the world, your employer of record plays an important role in onboarding new employees and managing day-to-day elements of the business — and when there are issues with your operations, it may mean it is time to find a new employer of record. Your employer of record is the legal, on-paper employer of your remote employees and non-compliance issues can lead to financial penalties and other repercussions for you.
Here are a few operational warning signs that may signal it is time to find a new employer of record:
- Payroll errors that include missed tax deductions or late payments.
- Updates to local labor and tax law are missed, leading to compliance errors.
- Hidden fees for basic offboarding and support.
- Lack of account management support.
- Poor employee support.
Strategic Warning Signs to Switch Your EOR
Have you found the talent you need in Uzbekistan or Armenia? Are you looking for an employer of record that can support your global team better? Does your current EOR provide the technology and platform you need to grow your team? These questions and many more influence your strategic decisions as a company, and an employer of record that cannot provide the solutions you need, may not be the right fit.
Here are a few strategic warning signs that may mean it is time to switch employer of record providers:
- Lack of support in emerging markets where you want to hire.
- Outdated technology and hiring platforms.
- The current provider will not take on all legal responsibilities and obligations.
- EOR data does not sync with other tech platforms and tools.
- Finding, recruiting, and onboarding new talent takes too much time.
READ MORE: Best Countries for Hiring Tech Talent in Central Asia and the Caucasus
Why Choose Truss as Your Global EOR
Is it time for a change for your tech company? Should you find a new employer of record? Truss may be the answer to your questions as an end-to-end global hiring platform and employer of record provider in Central Asia and the Caucasus.
If you have seen the warning signs and made the decision to find a new employer of record, you may not know where to start or what to look for — and we may be able to help. This checklist will provide you and your tech company with a little insight into how you can find and choose the right global EOR for your company.
- Finding Talent or Just Payroll: Many traditional EORs offer just basic administrative and payroll software, but Truss actively searches for, finds, recruits, vets, and presents tech talent before handling compliance.
- Market Specialization: Rather than relying on third-party agencies in Central Asia and the Caucasus, Truss possesses local entities in tech hubs like Georgia, Kazakhstan, Armenia, and Kyrgyzstan to provide expertise in local labor laws and tax incentives.
- Transparent Pricing: Truss provides transparent salary quotes without hidden foreign exchange markups or percentage-based commissions, allowing you to easily calculate your savings over a potential employee in the U.S.
- IP Security and Device Procurement: Truss employs localized employment contracts with secure IP assignment clauses and manages device procurement to protect your intellectual property.
- Employee Experience and Retention: Because the operational efficiency of your EOR impacts employee retention, Truss handles onboarding, employee benefits, and guaranteed on-time monthly payroll so your remote employees feel like a part of the team.
