Employer Of Record Services Very Much On The Rise – Globalization Partners
Globalization Partners – which enables companies to hire anyone, anywhere, quickly and easily, via its automated and compliant global Employer of Record platform, today announced significant momentum in 2020 with 70 percent year-over-year customer growth and a record number of net new sales. The unprecedented demand for its solution has Globalization Partners projecting it will reach $750 million dollars in annual recurring revenue in 2021.
“Things have changed permanently, we have witnessed the progression of remote work leap forward 10 or 15 years in the past year,” said Diane Albano, Chief Revenue Officer, Globalization Partners. “Companies are thinking differently and as more and more look to hire the best talent no matter where they are located, they are seizing the opportunity that comes with hiring global remote teams.”
This statement is confirmed by Charles Ferguson, General Manager, APAC, Globalization Partners. who says: “This year we have signed many key partnerships with companies like Zegal, multiple SMB and enterprise customers and have grown both revenue and our employee base very significantly. The move towards remote working has had a major impact on the APAC region and reports suggest that more than 70 percent of employees want to maintain at least some degree of remote work moving forward.”
To support demand for its solution, Globalization Partners doubled its internal global employee headcount in 2020, and is planning to double its workforce once again by the end of 2021 to approximately 600 employees. In 2021, the APAC team will hire business development employees in Australia and New Zealand and will be expanding sales and marketing teams in Singapore.
With the shift in thinking about the possibilities and benefits of a remote global workforce, the company’s EOR platform has become decidedly relevant. Ashley Roller, Director of Human Resources at Clumio, an innovator of authentic SaaS for enterprise backup says, “I can just call up Globalization Partners and explain that we are opening a new location in Australia — which happened just recently —and we need to bring on a new hire on right away. Within hours, we are able to get that new person onboarded – without setting up our own entity or registering our own Australian payroll. It’s a huge benefit for our business to have that type of flexibility when hiring talent globally.”
In 2020 Globalization Partners was named Global Employer Record (EOR) industry leader by independent analyst firm NelsonHall. As an EOR, Globalization Partners serves as the legal Employer of Record for customers hiring internationally, handling payroll, taxes, and benefits, and ensuring compliance with local employment laws and regulations. Their platform frees up companies to manage and direct the daily work of their team members while not having to navigate complex legal issues – thus enabling companies to move faster into new territories so they can be more competitive internationally.