EOR Services in Nepal: Hire, manage, and pay without even a local entity

Hiring from regions that are less costly yet guarantee just as good of a quality that you would get anywhere else is a win-win for companies looking to outsource work. Employer of Record or EOR services in Nepal has made it possible for businesses worldwide to do so. 

Likewise, you don’t necessarily have to operate from a certain geographic location to hire workers from there or even work with an Employer of Record service provider from that certain place. The growing use of EOR services among businesses worldwide has enabled them to function under a budget while also being able to generate revenues impressively. 

There are several reasons why and how you should rely on an Employer of Record services to hire, manage, and pay your employees without even a local entity in Nepal. Make sure to read till the end of this blog to know more!

Employer of Record (EOR) Services aim at hiring, managing, and paying the employees while the hiring company focuses on their day-to-day activities. The third-party agency takes charge of handling the employees almost entirely, though as a business owner, you will be able to track performances and activities done by both the service provider and your employees. 

In short, EOR services make it simpler and cheaper for you to run your company in different ways. With the help of this service, companies can also give the responsibility of maintaining legal compliance to the service providers. Some common responsibilities under Employer of Record services include recruitment and hiring, employment contracts, payroll and similar benefits, legal compliance, and taxation. 

You can easily hire employees from Nepal through a Nepali EOR service provider without an issue, regardless of where you are located. Global hiring is very common among such service agencies. Additionally, you don’t have to set up a local entity in Nepal either. 

Here’s how EOR services work:

You need to look for the perfect EOR service provider first. Doing a thorough research on the same is going to be very fruitful, and is in fact, a compulsion. Once you find the best agency, you need to move towards consultation and discuss the job duties, number of employees you want to outsource, etc. After finalizing everything and getting confirmation from both parties, you can move towards signing an agreement, which is likely to be given by both your company as well as the service provider. 

From here on, the EOR service provider will handle everything that has been included in your contract. They will start to recruit, hire, train, and manage employees. The agency will also provide the hired candidates with the necessary employment contracts. In addition to this, everything will be recorded for future reference. 

The EOR service agency will also handle complaints or queries from the employees. The third party will act as a mediator between the company and the employees. Likewise, the frequency of complaints is likely to decrease, given that the agency will handle as many issues and concerns that arise on their own as much as possible. 

Salary, bonuses, and other compensations will all be handled by the EOR services provider. Additionally, the company will also hold tax, deductions, and any employee benefits that may come with hiring an outsourced worker. 

The EOR company makes sure that the operations are legally compliant with Nepal Labor Laws. Since service providers are perfectly educated on legal laws and regulations, every action taken will be handled with great care and confidence. Risk management is also a part of legal compliance delivered by Employer of Record services. 

The EOR service provider will remain in touch with you throughout the hiring, managing, and paying process. They ensure reporting as and when necessary and as per the demand of the hiring company as well. The agency will guarantee their availability until the contract period ends. 

There are many reasons as to why companies must opt for EOR. The agencies make your organization’s daily operations simpler, help you cut costs, look for employees from a wider talent pool, etc. When you hire a full-time employee for all the work that can be assigned to a third-party service partner, then you are also limiting your company from growing. 

The following are some reasons as to why you should opt for EOR services:

A company can expand beyond a geographical area when you opt for EOR services. This way, you will be able to have a workplace that is both diverse and inclusive. Further, there won’t be a necessity for in-house employees and even the company owner to be a part of the operations as long as they are working with an outsourcing partner. 

Hiring from a certain location can be more expensive than hiring from others. When you don’t seek help from the Employer of Record service for the same, it can be impossible to cut costs while also aiming for profitability and cutting costs. Relying on the service provider, however, can help find efficient and experienced workers from regions worldwide. Since the agency won’t be hiring a full-time in-house employee, the costs for hiring and managing the hired candidate are also going to be much lower. 

A business owner is often distracted by work that does not have a concern with the core objectives. These tasks are very often crucial as well, like handling the employees and operations. Hiring EOR service can help you as well as your in-house employees focus on making profits while keeping aside operational duties. 

Employing a workforce with experience can be tough for companies. EOR services help them find the right people for the right job. The talent pool in reach of the agencies is very wide, and they can reach out to people globally for hiring purposes. Hence, an experienced workforce is easy to find with the help of a third-party agency without having to put extra effort into the same. 

EOR services also specialize in providing the best employee experience. They don’t need to get in touch with you as soon as an employee faces an inconvenience or has a complaint related to either the company or their work. Instead, they will try to manage the workforce that they have boarded on their own and won’t get you involved unless extreme situations arise, which again is less than likely, as they try to ensure as positive employee experience as possible. 

Before you collaborate with an EOR service provider, there are a few things to keep in mind and learn to avoid any possible conflicts in the future. These factors are:

● Minimum Salary Standards

● License Conditions

● Labor Laws and Their Observance

● Rules issued by the Government

● Hours of Operation and Probation

● Benefits and Leave Rights for Employees

● Guidelines for Employing Foreign Employees

● Contributions to Social Security

● Procedures for Terminating Employment

● Rules Regarding VAT and Taxation

Companies hiring talents from Nepal have become very common nowadays. Making profits while investing as little as possible may seem impossible when the workforce you’ve hired is beyond affordable. This issue is common but not unavoidable. Hiring from Nepal is best for companies who are looking for a budget-friendly solution to their organization’s cost issues. 

Nepal is a growing economy, and the workforce today is more educated and experienced than ever. With increasing demand in IT and various other sectors, young graduates are hoping to find a place in the job market that best matches their skills. Hiring talent from the country through Employer of Record service can help your company get the most efficient workforce at a reasonable cost. 

Almost every educational institution in Nepal mandates English speaking. This has further made it possible for the country to build English-proficient youths who can excel in work at just about any global workspace. The dedication and work ethic that the Nepalese youth have can be just as much of an advantage. The workforce’s ambition to grow and learn with the company will be beneficial in generating long-term returns for the organization. 

Furthermore, the remote workspace provided through global hiring can be very helpful in contributing to productivity and flexibility in work among outsourced employees. 

Nepal has been able to transport the most skilled manpower worldwide. If you are directly hiring from the country, then there is no better way to go than through EOR service. With the growing demand for skilled workers throughout industries, hiring at a low cost from an affordable talent pool regardless of your organization’s physical location has never been easier than it has with Employer of Record. Utilizing resources for outsourcing like this will always keep you a step ahead of your counterparts! 

Srijana Neupane is a Human Resource enthusiast and VP Business Growth at EOR Nepal