How an Employer of Record Can Help with Benefits
Your early-stage company may not be able to afford an HR department, benefits, and many other pieces of today’s employment puzzle, but you can hire them all. Instead of a simple payroll company, choose an employer of record firm. Legally, they are the employer of your employees, whom you essentially rent. You, the client, hire your people, set the pay scale, and determine the employment agreement. The employer of record handles benefits — including 401(k) and other retirement, insurance, state and federal deposits — and employee taxes and reporting. They also provide you with an employee handbook, personnel counselors, as well as coaching for you, the business owner, on how to work with your employees.
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