If managing HR tasks, payroll, compliance, and tax obligations across new regions were effortless for organizations, would there still be a need for today’s advanced Employer of Record solutions?
Yet, the reality is quite different. Expanding internationally brings a maze of challenges – from attracting top talent to navigating diverse tax and labor laws – that can overwhelm even the most seasoned HR teams.
This is where global EOR service providers like Oyster HR step in, positioning themselves as all-in-one global hiring and compliance solutions designed to simplify expanding into new markets without its associated challenges.
But is Oyster HR a definitive solution to all your global expansion woes?
This article analyzes the key characteristics of a leading global EOR service provider, dives into the essential functionalities of Employer of Record (EOR) platforms, and reveals common challenges that organizations may face when leveraging these solutions.
The goal is to help you assess if Oyster is the perfect solution for your expanding business.
What does Oyster EOR do?
Oyster’s EOR solutions empower organizations to manage seamless, automated, and compliant employment, including payroll and benefits for globally distributed teams. Oyster simplifies complex processes, such as setting up entities in new regions, employing workers on behalf of client organizations, and handling onboarding, payroll, taxes, and benefits. This ensures all your global talent management needs are addressed on one platform.
What sets Oyster’s EOR solution apart is its robust compliance features, worldwide coverage, and emphasis on employee experience. This makes Oyster an ideal for organizations with ambitious international expansion plans and a focus on building a resolute, engaged workforce.
Additionally, Oyster helps hire and pay compliantly in 120+ countries, generates legal-reviewed compliant agreements, enables fast onboarding of new talent and payments to global team members, and provides satisfactory expert support.
Oyster’s focus on comprehensive EOR services, global payroll solutions, and useful features positions it as a capable contender in the global EOR service provider landscape.
What features should you look for in a capable global EOR service provider?
Choosing the right global EOR service provider is essential for safeguarding your business against legal and financial risks while granting access to a diverse, international workforce. Top EOR platforms do more than just provide HR support: They streamline remote hiring, ensure compliance, and meet the unique needs of global teams. An ideal provider should offer comprehensive global hiring solutions, reduce liabilities, and be cost-effective.
Here’s what to look for in a versatile service provider:
1. Deep understanding of local compliances in the target country
When expanding into new countries, your EOR provider must be fully aware of local compliance requirements. Every country has its own established set of tax regulations, job-related restrictions, legal compliance, and statutory requirements.
Ignoring these can lead to significant fines, penalties, and damage to a brand’s reputation. A reliable EOR company should have a local presence in the target country and a deep understanding of the legal standards and compliance nuances specific to that market.
2. Data safeguard measures
Before sealing the deal with an EOR platform, don’t forget to ascertain how the service provider stores confidential information. Data vulnerability risk is the last thing you would desire. Therefore, make it a point to determine what kind of data privacy regulations your desired provider follows and initiate inflexible contracts so that data security is not taken lightly.
3. A strong network of HR and legal specialists
Before zeroing in on an EOR platform to partner with, assess whether it offers a network of HR and legal experts who will guide and assist you should the need arise. This helps ensure that you have an all-inclusive understanding of local labor law provisions across various countries and employment and compliance best practices.
4. Risk administration
At its core, an EOR platform’s primary purpose is to help your business comply with legal obligations in a new market. Therefore, when choosing a solution, you should channel your efforts into finding one that has built-in safeguards to keep financial and legal liabilities at bay. You should check whether a particular EOR solution is versatile enough to help you manage law infringements, compensation, employee benefits, and insurance.
5. Pricing transparency
Before finalizing your EOR partner, make it a point to assess if the workforce management costs are transparent and based on fixed or scalable pricing models. This aids in financial planning, budgeting, and ultimately in making well-informed decisions.
6. IP safeguards
When faced with many choices, one differentiating factor should be a service provider’s level of adherence to the fundamental legal frameworks and commitment to safeguarding your intellectual property (IP) rights.
Choose a service provider that places a premium on mitigating the risks of IP breaches and safeguarding your organization’s logo, trademark, and other key IP components.
Identifying a global EOR service provider with useful features and advanced capabilities is the cornerstone of outstanding global talent management. However, regardless of their exciting features, some solution providers are far from being the only definitive option.
The next section details some of the prominent challenges companies encounter with Oyster’s employer of record services and how Multiplier’s EOR service is a surefire way to address those very challenges.
Addressing Oyster EOR’s challenges: How Multiplier bridges the gap
Despite its many merits, Oyster EOR is not without limitations. Below, we list some negative aspects as reported by its users and show how Multiplier solutions can help address these gaps.
Suboptimal customer support
One common issue that Oyster’s users face is unsatisfactory customer service. Noel Dahl, a G2 reviewer, shared, “Their customer service is not good. You do not have a dedicated rep, so you will get someone new each time. Even simple questions take a long time to get a response, and you are typically bumped back and forth between departments/reps a few times.” Experiences like these will hamper rather than promote trust in the system.
Multiplier’s solution: Multiplier ensures that its highly responsive customer service teams are prompt in looking after clients’ needs.
Rhozana Marie V., a sales representative, praised the platform, saying, “I love that they always pay attention and provide answers quickly. I’ve never had a support system as attentive and responsive as them. It blows my mind how Multiplier beats any onsite or even remote HR and payroll departments my previous employers ever had.” This eagerness to address all queries and resolve them maintains and strengthens customer trust.
Slow turnaround to resolving issues
Oyster users have reported that the platform’s slow support turnaround is frustrating. A user on G2 explained: “The benefits package and the sick days offered by Oyster are paltry! The system requires a lot for management when it comes to pension activation (which has taken over 2 weeks to resolve), and updating documents or getting reimbursed also takes a while.” Such delays can disrupt the overall experience, leaving an unfavorable impression on users.
Multiplier’s solution: Multiplier’s system offers streamlined talent management that’s quick, easy, and seamless, providing comprehensive global benefits for employees in 150+ countries.
Suboganga V., a Data Entry Operator, shared his positive experience: ” I recently had the pleasure of working with Multiplier, and I am extremely satisfied with their EOR services. Despite facing a delay in my payment, Joel from Multiplier was consistently in touch, providing updates and reassurance. His efforts and persistence ensured that the issue was resolved swiftly, and I truly appreciate his commitment.” Such experiences attest to the level of satisfaction users experience with Multiplier’s EOR services.
Onboarding hassles
Another pain point for Oyster users is its often time-consuming onboarding process. A user on G2 echoed this sentiment and shared: “Even though Oyster simplifies the international hiring process, the onboarding experience feels a bit tedious, especially with country-specific documentation.” The primary role of EOR systems is to streamline onboarding processes, laying the foundation for long-term success. If this is overlooked, it can negatively affect employee morale and workplace culture.
Multiplier’s Solution: Multiplier’s convenient and seamless solutions enable organizations to onboard global employees effectively and efficiently, supporting global employment while maximizing employee engagement, retention, and productivity. The onboarding process is smooth and efficient, allowing for faster integration of new employees from different regions.
Pradeep C., Team Lead, commented: “The onboarding process is smooth and efficient, allowing for faster integration of new employees from different regions.” With a positive onboarding experience, employees may feel more aligned with organizational objectives.
A lack of holistic experience
Some Oyster users have expressed dissatisfaction with the overall experience of the platform. One such reviewer commented: “The platform or dashboard is a little too basic with no flexibility for exceptions or customization. Employment contracts were also too rigid, with no flexibility for exceptions. Support staff assigned to me were not exceptionally informed of local laws and regulations and were unable to advise on tax, etc.” Lack of accountability in EOR services leads to subpar user experience and impacts a business’s growth.
Multiplier’s solution: Multiplier’s user interface is recognized for its intuitiveness and ease of use. The user-friendly dashboard enables users to manage and execute HR tasks seamlessly and efficiently.
A user on G2 noted, “The Multiplier dashboard is very easy to navigate through and contains all essential information you may need. If anything else, their customer service chatbot integrated into the dashboard is also very helpful, plus their specialists are always so responsive and willing to help.” When compared to other HR platforms, Multiplier’s intuitive and easily navigable interface makes it a lucrative EOR platform.
Obscure pricing
While Oyster’s monthly subscription costs may initially seem reasonable, the fine print in EOR contracts often includes hidden fees that can gradually escalate overall expenses. According to a G2 reviewer, “To be honest, the service needs to be more transparent and more serious. For the last half year, we have had constant billing problems, including always having to pay more than expected, and another issue is that they make billing mistakes and then charge us to correct the error.” Lack of transparency and accountability in billing and payments may lead to a feeling of distrust in any service.
Multiplier’s solution: Multiplier’s transparent pricing plans are crafted to support your business growth, offering a flat, straightforward pricing structure with no hidden fees. With country-specific rates, it provides a clear breakdown of all charges tailored to each location.
Rhiana G., CEO/Co-Founder, also appreciated Multiplier’s pricing plans, stating, “It’s a cost-effective, comprehensive solution for young startups. Also, the service level and response time of our account manager, Gerson, are amazing. The platform is intuitive for someone who has never had an EOR before.“
By simplifying these challenges head-on, Multiplier emerges as a more comprehensive and compliant EOR solution. Whether you’re grappling with the issue of rising service costs, processing delays, compliance lags, or subpar support, Multiplier has the tools and team to streamline your global expansion process and help your business grow vigorously.
Checklist to switch from Oyster EOR service provider to Multiplier
Switching EOR platforms is a critical decision, often accelerated by the desire for better service, enhanced efficiency, or cost-effectiveness. If you’ve encountered some rough experiences with Oyster, whether it be in terms of its applicability or overall experience, it may be time to make the switch.
Multiplier offers a streamlined, compliant workforce management solution to simplify the complexities of international hiring, making the transition worthwhile. Here’s a checklist to guide you through the process:
1. Assess the challenges
Start by thoroughly analyzing the issues evident with the current provider. Common challenges might include inconsistent support, a high learning curve associated with the tool, or invoicing issues. Identifying these sore spots will provide clarity as to how Multiplier’s features—such as highly responsive customer support, a better user experience, and streamlined invoicing—can address these pain points.
2. Review the closure policy
The next step involves understanding the offboarding process, which entails reviewing the closure policies of your existing EOR agreement. This will help you understand when the termination of the service agreement is, any probable early termination charges, and other considerations.
3. Set a definite transition timeline
Engage in discussion with your new EOR to set up a definite transition timeline and assign a key point of contact within your team. As you get a grasp on the onboarding process, review and sign the new agreement and clear all obligations. It is worth considering asking about service level agreements (SLAs) and clarifying all the transition-related doubts beforehand.
4. Keeping employees informed
Your teams and employees should be made aware of why the transition is happening. It’s essential to speak with them and discuss the reasons behind migrating from one service provider to another. It’s equally beneficial to request FAQs from your new EOR provider and let them address any queries your teams may have.
5. Start onboarding with the new provider
As you cut off the old ties and forge new bonds with the new EOR, ensure that all stakeholders are on the same page. This includes helping your employees review and mark their approval for the new contracts and setting the right expectations for everyone.
6. Complete the transition
After employees sign their new contracts, ensure they are fully aligned with the updated terms, making previous contracts null and void. This step is crucial to avoid any contractual confusion and to set a clear, consistent foundation as you move forward with Multiplier.
Multiplier Global EOR: The smartest solution for efficient international business expansion
After identifying the challenges and exploring the best available options, you may wonder if Oyster truly meets your needs. While it covers the essentials, it often falls short of delivering a fully integrated experience.
This is where Multiplier EOR steps in, providing a robust, all-in-one solution specifically designed to navigate the complexities of managing a global workforce across diverse regions.
With Multiplier, you can hire exceptional talent globally in the least amount of time without any compliance or legal concerns. Our transparent pricing, backed by world-class service, ensures you have complete control over your global EOR operations.
If you’re looking for a cost-effective global EOR service provider that stands out for its top-tier features and scalable solutions, Multiplier has got your versatile needs covered.
Book a demo with Multiplier today and discover why we’re the preferred choice for global organizations.
