Globalization Partners, a leading Employer of Record (EOR) service provider, offers a range of services to help businesses hire employees globally without establishing local entities. However, their pricing is not explicitly available on their website, as it depends on the specific needs of each company and the services they require. Here’s a breakdown of the general pricing information based on industry insights:
- Employee Services: Globalization Partners helps companies hire full-time employees across different countries, covering payroll, benefits, compliance, and other HR functions. The cost for these services is typically custom-tailored to each business. On average, Globalization Partners charges a service fee of 15-20% of the employee’s monthly salary. This fee covers all aspects of managing the employee’s compensation, taxes, benefits, and compliance in the respective country. The company typically requires a minimum fee of $1,500 per month per employee.
- Contractor Services: For companies hiring international contractors, Globalization Partners offers a service called G-P Meridian Contractor, which starts at around $49 per contractor per month. This service simplifies the process of managing contractors by handling contracts, invoicing, and compliance. This is ideal for businesses that want to hire independent contractors in multiple countries without managing them directly.
- One-Time Fees: In addition to the regular monthly charges, there are sometimes one-time fees for services such as background checks, recruitment assistance, visa sponsorship, or setting up new legal entities (if required). These costs vary depending on the services requested and the complexity of the requirements. Some estimates suggest that setting up a new entity or complex visa requirements could incur additional charges.
- Advance Payments: Globalization Partners typically requires two months’ worth of payroll as an upfront deposit to cover initial operational costs. This payment is usually due when first engaging their services.
- Additional Considerations: The costs associated with Globalization Partners can be influenced by the specific countries where employees or contractors are based, as different countries have varying compliance and regulatory requirements that may affect the price. Furthermore, custom service packages may be available depending on the scale and complexity of the business’s needs.
In conclusion, while the exact pricing depends on individual business needs and locations, companies can expect to pay a monthly fee of around $1,500 per employee plus a percentage fee of 15-20% of the employee’s salary for full-time employees. For contractors, the fee starts at $49 per month per contractor. For detailed and precise pricing, it’s advisable to contact Globalization Partners directly for a tailored quote.