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If you want to protect and support your global employees, choosing an employer of record (EOR) that believes in a people-led approach is key, writes Alex Voakes.
The employer of record (EOR) sector is growing fast. With remote work and global expansion becoming commonplace, the industry is projected to reach $6,795 billion by 2028, up from $4,236 billion in 2021. An ever-increasing number of businesses around the world are trusting us to take full responsibility for all aspects of their global employment, and it goes without saying that now is a good time to be in business as an EOR. However, it is no secret that rapid expansion can bring growing pains, and HR and business leaders can feel frustrated with EORs.
Many EOR providers in my industry use sophisticated online platforms at the point of sale to pull clients in, but later leave them feeling disappointed by a lack of communication. Perhaps, as an HR professional, you have experienced this too? Persistent pain points include being slow to respond, lacking a personal touch, and not having all of the answers when they are needed. Sound familiar? Standard employment in the UK regularly throws up complications, including tax, compliance and benefits. When the same issues are raised on an international level, they can go from minor complications to enormous challenges if they are not resolved quickly.
It is, therefore, vital that leaders in EORs put communication at the centre of their organisation, internally and externally, and adopt a “people-led” approach. Being people-led can mean different things to different individuals, but to me, it simply means prioritising people. Our people-first approach puts us in a unique position in the industry and means that we can provide the best possible support for our staff and clients. It is important for any industry, but especially for us, as simply put, we deal with people – as an EOR, our products are real human beings. I am acutely aware that every individual we support, all over the world, is living a complex life and, at times, just wants to know that there is somebody on the other side who can help them.
If businesses really want to support their employees and value them as individuals, they should use a people-led EOR. Other providers in our industry, which typically manage large-scale organisations of more than 1,000 employees, are clearly successful, but sadly often view each staff member as a number on a spreadsheet. There is just no personal connection or relationship. To be clear, I am not discrediting our fellow EOR providers. If you are a large multimillion-pound business, you will undoubtedly get a good level of service from an EOR. But what about once your employee has a problem or concern? Will they get a friendly voice on the other end of the phone helping them with their issue, or an annoying automated artificial intelligence (AI) chatbot that clearly caters to the masses? Unfortunately, the latter is more likely, and many of our customers come to us after experiencing exactly that from their current EOR. A people-led approach naturally lends itself to a much more personalised, boutique and reliable service.
However, being truly people-led shouldn’t solely be about attracting customers – it needs to be instilled internally, too. At Peak, we implement a four-day working week, with no additional hours or reduction in pay, because we believe our people are our biggest asset and that they should be trusted as adults to do their jobs. One of the main reasons we implemented a four-day working week was because we wanted our employees to be healthier and happier. When our staff are more engaged, they naturally align with and uphold our people-led values, which ultimately strengthens and drives the success of our business.
In today’s world, we understand that people, in their public and private lives, are under more pressure than ever. Costs are skyrocketing, people are increasingly living thousands of miles away from their offices working remotely, and AI automation has exploded, transforming the way we work. It is, therefore, vital that we hold onto the simple yet crucial value of human connection and communication. My message to HR leaders is that if you want to protect and support your global employees, choosing an EOR that believes in a people-led approach is key.
Alex Voakes is the chief executive at Peak PEO.
