EOR and Restrictive Covenants, Finding Employees in a Tight Labour Market, and the EOR Growth Report Amidst Labor Market Shifts

Home » News » EOR and Restrictive Covenants, Finding Employees in a Tight Labour Market, and the EOR Growth Report Amidst Labor Market Shifts

Table of Contents

close

EOR and Post-Termination Restrictions: Balancing Global Hiring with Legal Compliance

We came across this article that explores the effects of using an Employer of Record (EOR) structure on restrictive covenants for employees, especially senior management. EoR allows businesses to hire skilled employees globally without the complexities of setting up subsidiaries abroad. However, the enforceability of post-termination restrictions varies across jurisdictions, making it essential to understand the legal implications.

In countries where post-termination restrictions are enforceable, EOR employers must ensure that each covenant is based on legitimate business interests, such as customer/supplier connections and protecting confidential information. Duration and scope of the covenants must also be reasonable. The challenge arises from the interrupted connection between employees and end-user companies in the EOR structure. To overcome this, separate restrictive covenant agreements may be established between the end-user company and the employee. However, this may require payment to the employee, even in jurisdictions where it is not usually necessary, potentially complicating the arrangement. Early discussions with EORs and potential employees can help clarify post-termination obligations and ensure compliance.

Navigating the Tight Labor Market: A Winning Formula for Attracting Top Talent

Are you facing challenges in attracting the right talent? We came across an article that delves into the challenges faced by employers amid a prolonged labor shortage and provides opinionated strategies to attract and retain top talent. Employers are experiencing burnout and attrition among current employees due to the strain of handling the workload left by former colleagues. High-stress environments lead to increased error rates and jeopardize a company’s bottom line. To address these issues, business leaders must revamp their recruitment and hiring strategies, analyze market demands, adjust policies, and enhance the candidate experience.

The article suggests two major tactics to overcome the labor shortage: embracing remote and hybrid work options to tap into a global talent pool and focusing on skills rather than prestigious qualifications during the hiring process. Employers should modernize their processes and policies to accommodate alternative work environments and partner with an employer of record (EOR) for seamless global hiring. Additionally, by prioritizing skills over traditional education, companies can increase their talent pool and foster a more diverse and equitable work environment. The article also emphasizes streamlining the application process to reduce candidate drop-off rates and implementing a well-crafted and efficient hiring process to secure in-demand candidates quickly. By positioning their company as an employer that delivers on promises and provides an engaging onboarding experience, businesses can enhance the total employee experience, leading to improved retention and better bottom-line results.

Employer of Record Services Market: Surging Growth Amidst Global Labor Market Shifts

The Report published by Infinity Business Insights highlights the thriving Employer of Record Services (EOR) market, valued at USD 131.9 million in 2022 and projected to reach USD 205 million by 2029 with a CAGR of 6.5%. EOR services are witnessing significant adoption across industries and regions, allowing businesses to expand their workforce globally without establishing legal entities in each country or dealing with complex employment regulations. By outsourcing legal responsibilities to a third-party company, companies can access talent and establish a presence in foreign markets more efficiently. This global EOR trend is fueled by increasing globalization and the need for businesses to manage international labor laws, tax regulations, and HR compliance.

The report profiles key players in the market, including Adecco, Randstad, and Globalization Partners, among others. These companies are adopting new technologies, strategies, and product developments to maintain dominance in the EOR market. The report emphasizes the importance of customer satisfaction and experience surveys in driving market research services for EOR solutions. As competition intensifies, businesses are leveraging innovative tactics to attract and retain clients, making market research services essential. Overall, EOR services offer a transformative solution to navigate the challenges of the global labor market and tap into talent across borders while ensuring compliance with local regulations.

Table of Contents

Recent Blog Post

blog read more

In the ever-evolving landscape of Human Resources (HR), finding innovative solutions to streamline operations and maximize efficiency is a constant

editor

Editor

blog read more

Introduction In today’s fast-paced business world, Human Resource professionals face a multitude of challenges. From managing payroll and benefits administration

editor

Editor

blog read more

Introduction The Human Resources Outsourcing (HRO) industry has been experiencing significant growth in recent years, driven by various factors. Among

editor

Editor