Today, enterprises worldwide consider global hiring as a business advantage and opportunity, enabling them to gain insights into new markets and access a diverse talent pool. However, navigating global expansion can be a complex and time-consuming process, with organizations contending with new legal systems, tax structures, and global payroll processes. As a result, it comes as no surprise that enterprises have increasingly embraced solutions such as Employer of Record (EOR) in recent years, recognizing it as one of the simplest ways to swiftly enter a new market. An EOR is a third-party organization that assumes responsibility for paying an employee (permanent or temporary) on behalf of another company. Through an EOR, enterprises can efficiently onboard and manage talent without the need to establish an entity in a particular region. In this report, we analyze the EOR market and examine it across various dimensions such as key growth drivers, buyer adoption trends, and provider investments. The report relies on primary and secondary data collection, including conversations with various market participants such as enterprise buyers, outsourcing providers, and EOR specialists. Scope All industries and geographies The report is based on primary and secondary data collection, conversations with market participants (buyers and outsourcing providers), and fact-based research Contents In this report, we analyze: The EOR market landscape, including market size, trends, and use cases Buyers’ take on the EOR market Provider landscape Key investment themes in the EOR market and outlook for market stakeholders Membership(s) Human Resources Sourcing and Vendor Management

The Employer of Record (EOR) Provider Compendium 2023 – Update is a companion to Everest Group’s recently published Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2023. This compendium provides comprehensive and fact-based snapshots of 20 EOR providers, along with the providers’ company snapshots, services, technology capabilities, and client portfolios across geographies, industries, buyer sizes, and key developments. In addition, each profile specifies the provider’s position on Everest Group’s PEAK Matrix ® and offers an insightful analysis of its capabilities. The compendium will enable EOR providers to benchmark their capabilities against their competitors, while buyers will be able to assess the providers based on their desired set of capabilities. Scope All industries and geographies Contents In this report, we evaluate EOR providers on their: Recent investments and announcements Market adoption and capabilities Client portfolio mix Platform features, functionalities, and key enhancements Capabilities across PEAK Matrix dimensions Key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

Expanding globally is often a multifaceted and time-consuming process that requires organizations to navigate unfamiliar legal systems, tax structures, and global payroll procedures. As enterprises aim to tap into the advantages of hiring talent globally, managing and paying employees compliantly across multiple countries can become a formidable challenge. Therefore, one of the simplest ways for enterprises to swiftly enter a new market is to utilize an Employer of Record (EOR) service. An EOR partner empowers companies to legally engage with workers in a new country or region without the need to establish a separate legal entity or risk violating local laws. In this report, we analyze 20 providers on the Everest Group PEAK Matrix® for EOR solutions and categorize them as Leaders, Major Contenders, and Aspirants. The research will help providers benchmark their capabilities against competitors, while buyers will be able to evaluate the different providers based on their sourcing needs. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading EOR providers, client reference checks, and an ongoing analysis of the EOR market Contents In this report, we examine: Everest Group’s PEAK Matrix® evaluation of EOR providers and their categorization as Leaders, Major Contenders, and Aspirants Top EOR providers across geographies and industries EOR providers’ key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

Today, enterprises worldwide consider global hiring to be a business advantage and opportunity, which allows them to gain insights into new markets and access diverse talent pool. Hence, it is no surprise that enterprises have been increasingly adopting solutions such as Employer of Record (EOR) over the past few years. An EOR partner enables companies to legally engage with workers in a new country or region without them having to set up a separate legal entity or face the risk of violating local laws. EOR offerings can span the entire employee administration value chain and include services such as onboarding, benefits provision and administration, time and expense management, and payroll. In this report, we analyze the EOR market and examine it across various dimensions such as key growth drivers, buyer adoption trends, and provider investments. Scope All industries and geographies Services: EOR solutions The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading EOR platform providers, client reference checks, and an ongoing analysis of the EOR market Contents In this report, we examine: Evolution of the EOR market: market size and growth, expected growth, and deal trends across geographies Key investment themes Buyer feedback, challenges, and adoption drivers EOR provider landscape ​​​​Membership(s) Human Resources Sourcing and Vendor Management

The Employer of Record (EOR) Provider Compendium 2023 is a companion to Everest Group’s recently published Employer of Record (EOR) Solutions PEAK Matrix® Assessment 2022 report. This compendium provides comprehensive and fact-based snapshots of 15 EOR providers, sharing the providers’ company snapshots, services and technology capabilities, and client portfolios across geographies, industries, buyer sizes, and key developments. In addition, each profile specifies the provider’s position on Everest Group’s PEAK Matrix® and offers an insightful analysis of its capabilities. The compendium will enable EOR providers to benchmark their capabilities against their competitors, while buyers will be able to assess the providers based on their desired set of capabilities. Scope: All industries and geographies Contents: In this report, we evaluate EOR providers on their: Recent investments and announcements Market adoption and capabilities Client portfolio mix Product features, functionalities and key enhancements Capabilities across PEAK Matrix® dimensions Key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

Today, enterprises worldwide consider global hiring to be a business advantage and opportunity, which allows them to gain insights into new markets and access to a diverse talent pool. Hence, it is no surprise that enterprises have been increasingly adopting solutions such as Employer of Record (EOR) over the past few years. An EOR partner enables companies to legally engage with workers in a new country or region without them having to set up a separate legal entity or face the risk of violating local laws. EOR offerings can span the entire employee administration value chain and include services such as onboarding, benefits provision and administration, time and expense management, and payroll. In this report, we assess 15 EOR vendors and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their vision & capability and market impact. The research will help buyers select the right-fit service providers for their needs, while service providers will be able to benchmark themselves against each other. Scope All industries and geographies Services: EOR solutions Contents This PEAK Matrix® report features: Everest Group’s PEAK Matrix® evaluation of EOR vendors and their categorization into Leaders, Major Contenders, and Aspirants Competitive landscape of the EOR vendor market Key enterprise sourcing considerations (strengths and limitations) for each of the 15 service providers evaluated Membership(s) Human Resources Sourcing and Vendor Management