Week of Jan 30,2023 – Latest happenings in EOR PEO
This week was, by and large, a no news week.
A funding news for another EOR PEO startup got some limelight, followed by the US Senate approving the “Temporary Workers Bill of Rights.” We also found a post highlighting the european perspective on EORs and PEOs.
Listo raises $1.7 million in pre-seed angel funding
Another EOR PEO company called Listo raises angel funding to capitalize on the fast growing EOR PEO opportunity.
It seems they are just getting started. We say this because of the following reasons:
- A google search for ‘Listo’ did not throw up the website, until we searched for ‘Listo Global.’
- A quick scan of the Listo Global website yielded high level content. The blog had just 3 articles. We expect some of the seed money to go into content marketing.
Here is the news we picked up about Listo.
The EOR PEO is getting more crowded and fragmented. We expected Listo to take a specialized approach by focusing on a segments e.g. SaaS or by focusing on specific geographies. None of this seems so, in this case. The press release does mention the founder Tyler Dixon saying,
“What makes us different than so many others is not just our breadth of services, but our dedication to the highest level of client success. Global expansion can seem complicated. We commit to being your personalized expert partner at every step. Call us – we’ll answer.”
Senator Joe Cryan’s ‘Temporary Workers Bill of Rights’ Gains Senate’s Approval
This isn’t entirely related to our space, currently. But, it could have future implications. The United States is a big driver of the EOR PEO business across the globe.
Here is the news we picked up about the bill.
We think that this bill is the first step towards greater regulation for temporary staffing agencies in the US. The intent certainly is fair. The bill aspires to prevent exploittation of temporary workers across wages, working hours, and benefits.
HJN news says, “The bill will hold the temp agencies accountable by requiring record keeping that is available to workers and regulators that includes basic information on hours worked, the pay rate and the employer of record. It will also have temp agencies provide laborers with basic employment information, including the names of the agency, the employer, the workers’ comp carrier and contacts for the Department of Labor and Workforce Development.”
This legislation will add a new dimension to PEO risk management.
What Europe means for EOR and PEOs?
This post is theoretical, at best.
But, it captures what an EOR or PEO is in the following european countries,
- United Kingdom (not Europe)
- France
- Germany
- Italy
Please do not expect to learn in detail about PEOs in this geographies. This article will help you understand the vocabulary surrounding PEOs in these countries. It also points out to the local regulations surrounding PEOs.
Till, next week.
