IEC Group Names Top 25 Global Employer of Record Providers
The IEC Group has released its list of the top 25 global Employer of Record (EOR) providers. The EOR market is projected to reach $9.8 billion by 2028.
Research and advisory firm The IEC Group has identified the top 25 global providers of Employer of Record (EOR) services. The firm estimates the global EOR market, which saw significant growth during the pandemic, will reach $9.8 billion by 2028.
EOR services enable companies to hire employees globally without establishing local subsidiaries. Demand has increased in the post-pandemic global economy as businesses seek flexibility for international expansion. North America remains the largest market share at 36%, with EMEA showing strong growth at 29% due to geopolitical factors and African development.
The IEC Group's study analyzed over 800 EOR companies, with 102 selected for detailed evaluation. The selection criteria included business services, strategy, customer experience, and delivered business value, utilizing the IEC Dynamic Map™ methodology based on expert experience, research, and client feedback.
Key players cited include G-P, Atlas, and CXC Global. The report highlights the market's maturation, moving away from lowest-cost strategies towards quality and agility. It also notes the emergence of startups introducing innovative approaches and technologies to the EOR and HR outsourcing sector.