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In today's job market, Human Resources (HR) and Employer of Record (EOR) companies have become vital for both employers and employees looking to hire/be hired remotely. They offer a range of services that cater to the recruitment, talent management, and other HR-related needs of businesses, offering cost-effective solutions for startups and small and medium-sized enterprises (SMEs). These companies (including Crossworks) have an in-depth understanding of various industries, local talent landscapes, and the intricacies of local compliance/regulation matters. In this blog, we will delve into top HR & EOR companies in Southeast Asia, comparing their costs and offerings. If you're an employer looking to expand your team, this information will be handy in your decision-making.
The Difference Between EOR & Recruitment Services
It's important to first distinguish between Employer of Record (EOR) services and Recruitment services/agencies, as these are two distinct solutions that address different aspects of workforce management.
Employer of Record (EOR) Service
EOR services involve outsourcing the legal responsibilities associated with employing individuals in a jurisdiction. An EOR service provider takes on tasks such as formal employment obligations, payroll processing, tax compliance, and benefits administration. Employers partner with EOR providers to navigate the complexities of local labor laws and regulations.
Recruitment Service
On the other hand, Recruitment services, also known as staffing services, are essential at various stages of the hiring process. Recruitment agencies assist in sourcing suitable candidates based on job descriptions, conducting interviews, and managing the hiring process. These services streamline the recruitment process, making it more efficient for employers.
Outlined below is a compilation of some of the leading HR companies in Asia that offer both EOR and Recruitment services. While there are numerous HR companies across the continent, we will focus on the top five.
1. Crossworks Myanmar
Overview:
Crossworks Myanmar is recognized as the first and largest remote hiring company in Myanmar, established in 2018. Our vision is to stop the brain drain of the country’s best and brightest by providing remote job opportunities to outlier talent, creating a conducive environment and supportive community for these folks to thrive in. We specialize in helping employers legally hire Myanmar talent and take care of the entire employee experience stack (logistics, attendance/leave/claims, payroll, and employee engagement) toward the aim of better productivity and retention for our clients.
Key Features:
Crossworks Myanmar focuses on providing remote hiring services to connect overseas companies with offshore Myanmar talent. We have a young and diverse talent pool, catering to all experience levels from beginners to seasoned professionals. Crossworks Myanmar has successfully partnered with over 50+ companies and has employed more than 100 remote workers from Myanmar. Unlike traditional recruitment agencies, we charge a flat fee and 100% of the employee’s salary & bonuses get paid to them. Hiring is just the start instead of the end of the journey for us as we work hard to ensure that remote working isn’t a lonely experience by organizing training and mentorship, online engagements, and sports/games to build the community.
Website: www.crossworks.info
2. Myworld Career
Overview:
Myworld Career operates in both Myanmar and Cambodia. Since 2015, this agency has consistently upheld international standards in both the Myanmar and Cambodia markets. The company recently expanded its service offering to include payroll and outsourcing in recognition of a growing demand for such services by international firms wanting to tap on remote talent from Myanmar.
Their services encompass market insights, sourcing, CV presentation, interview support, arrangement of interviews, offer negotiations, and headhunting for senior positions.
Additional Services:
In addition to recruitment services, they offer payroll, PEO, BPO, RPO, and temporary staffing solutions.
3. RecruitGo
Overview:
RecruitGo is a Philippines-based remote hiring platform, serving Southeast Asian companies with recruitment and Employer-of-Record services. As an EOR, RecruitGo takes responsibility for employee management, payroll, and government registrations, providing businesses with access to a dedicated team comprising HR managers, payroll specialists, and accountants at a cost lower than that of hiring part-time administrators.
4. Glints
Overview:
Established in 2015 in Singapore, Glints has rapidly expanded its presence in Indonesia, Malaysia, Vietnam, the Philippines, and Taiwan. The company places a strong emphasis on human capital empowerment and it has empowered over 5 million professionals and 60,000 companies through its job platform, a popular hit among fresh graduates who are finding internships as the first step of their careers.
Concurrently, their Talenthub solution helps businesses to tap on remote talent through a recruitment and EOR service. The company has an active presence in the countries above and a focus on Indonesian talent but unfortunately, the highest fees (by quite a margin) when compared with other services reviewed here. This could be attributed to the high number of employees based in their Singapore headquarters who also need to be compensated with a commensurately higher salary that is passed on to employers eventually.
5. Outsourced
Overview:
Outsourced is an outsourcing company based in the Philippines, offering full-time remote employees and offshoring services. The company provides clients with candidates from the Philippines for recruitment and selection, as well as outsourcing processes. Outsourced takes on operations such as HR, payroll, labor compliance, staff retention, and employee performance. While their discovery/recruitment costs are significantly lower than Glints, RecruitGo, and Myworld Career which charge based on a percentage of the employee’s annual compensation, the miscellaneous fees like $9 per candidate per skills test as well as government imposed regulations to pay a 13th month of salary and health/insurance monthly do add up.
Price Comparison of HR & EOR Companies in Asia
Note: This is calculated based on the $1500 USD salary of a remote Full-stack developer with 5 years experience. Pricing could be varied based on the salary of the employee.
It is noteworthy that Crossworks is capable of offering significantly lower rates compared to other HR and EOR companies with the recruitment/discovery success fee being a fraction of the nearest alternative and almost 7 times lower than Glints in this example. The ongoing monthly service fees for EOR/HR services are also most affordable in comparison to other providers, especially considering the wide array of support and initiatives offered post-hiring that remote employees can benefit from. Despite our competitive pricing, Crossworks is committed to delivering high-quality services to employer partners, with our goals being in full alignment to not just discover but also engage and retain these talents for the longest time possible.
Starting in 2024, Crossworks implemented a monthly charge of $50 SGD to companies for employee training and engagement. It's important to note that this is not a fee; instead, it will be provided as a credit that employees can utilize.
Summing Up
In conclusion, each of these HR and EOR companies in Asia brings its own unique strengths to the table, and there is good talent in every country. It’s equally important to find good talent that meets your company’s needs as it is to retain them rather than repeatedly going back to the drawing board to rehire, retrain and repeat oneself whenever a staff member resigns. Crossworks Myanmar excels in bridging international companies with Myanmar talent while ensuring compliance with local regulations, Myworld Career Myanmar specializes in executive search and high-level candidate sourcing, RecruitGo is probably the most cost-efficient way to engage talent from the Philippines (with Outsourced being a close second). While Glints excels as a job platform for job seekers, particularly fresh graduates but perhaps is the least wallet-friendly for employers looking at remote hiring solutions.