It can be exciting when your company is thriving and all signs point to global expansion as the next logical step. However, as the expression goes, the devil is in the details.
One of the biggest challenges faced by companies expanding is not necessarily the process of hiring a global team but the logistics of talent management, including a payroll solution for these new international employees.
One effective solution is investing in a global human resources software system.
These HR platforms enable companies to onboard new employees, manage employee records, handle payroll processing, and oversee employee benefits administration for employees no matter where their team members are based.
There are a lot of global HR software solutions out there, so how do you know which one is best for your business? We’ll look at some of the top providers and what sets them apart from the competition to help you decide which one is right for you.
Reminder: Global HR software is a human resources management system companies use to streamline and manage their HR needs. Typically, this software is cloud-based and automates day-to-day HR processes like onboarding/offboarding, payroll, and benefits management. It also stores, organizes, protects, and analyzes employee data.
What’s the Difference Between Global HR Software and an Employer of Record?
Global HR software and Employers of Record provide some similar functions and services. The main difference is that an HRIS is a standalone product streamlining a company’s HR-related tasks.
Some components might include comprehensive HR tools for talent acquisition, the hiring process, attendance tracking, performance reviews, and employee management. In contrast, an EOR performs many of these HR functions while also acting as the legal employer of a company’s global employees.
Essentially, global HR software helps companies manage human resources tasks while an EOR oversees HR functions in addition to serving as the legal employer for a company’s employees.
Companies that use an EOR often do not need to purchase a separate HRIS system because the services managed by an HRIS are already baked into the EOR.
In no particular order, here’s an overview of some of the more popular global HR software systems, some of which also provide EOR services.
Top 5 Global HR Software Systems
RemoFirst
RemoFirst is an EOR with a comprehensive, user-friendly, and intuitive platform to manage all aspects of employing a global workforce, including the employee onboarding process, the ability to pay team members in multiple currencies from one invoice, perform background checks, and more.
The company provides every client with a dedicated account manager for personalized attention and support, in addition to 24/5 customer service. RemoFirst also allows clients to offer private healthcare to their employees with RemoHealth.
Pricing starts at $199 per person/month with no hidden fees or minimums. For contractor payroll, pricing starts at $25 per contractor/month. There is also a free tier to manage contractors.
RemoFirst is a good choice for start-ups or small and medium-sized businesses looking for affordable pricing and the ability to onboard employees quickly.
Deel
Deel is an all-in-one EOR and HRIS that allows companies to employ global employees and assumes all responsibilities for HR duties. It offers several integrations with other commonly used platforms (such as Slack) and strongly emphasizes compliance.
The company offers a few different HR-only options, including Deel Engage, which focuses on improving employee engagement and employee performance, and Deel Payroll, which, as you probably guessed, focuses strictly on payroll management.
Deel’s complete EOR services start at $499 per person/month, which can be pricey, especially for smaller businesses. However, Deel could be a good fit for companies on a budget that only need to run payroll services, which start at $29 per month.
Oyster
Oyster enables companies to hire compliantly in over 180 countries via its EOR services. It acts as the legal employer for a company’s employees while also managing all necessary HR tasks, such as onboarding and payroll.
Starting at $599 per person/month, Oyster’s EOR services might better fit larger companies with bigger budgets. Global payroll services start at $25 per employee/month.
Rippling
While Rippling offers complete EOR services, companies can opt for strictly HRIS services, such as onboarding, time tracking, benefits management, PEO services, performance management, and more.
Rippling is a solid choice for companies interested in maximum HR automation. However, the company plays coy with costs, as its pricing page has … no pricing information.
Bamboo HR
BambooHR is a popular HRIS that allows businesses to use one platform to manage employee data, performance, hiring, onboarding, payroll, and other core HR functions.
The company can be a great option for growing companies that desire simplicity in operations and don’t need specialized functions. BambooHR is strictly an HRIS and doesn’t provide companies with the ability to hire and employ global staff.
Companies must contact BambooHR directly for a custom quote.
What Questions Should I Ask When Choosing a Global HR Software Provider?
It’s essential to ensure that the provider you’re considering will meet your company’s current and future needs. Some questions to ask potential providers include:
What Countries Does Your Software Support?
If the provider can only pay in U.S. dollars or Euros, it may be an issue if you want to hire someone in a country that doesn’t use those currencies. Ask if there are options for paying employees in their local currencies.
What Currencies Does the Software Support?
If the provider only has the ability to pay in U.S. dollars or Euros, it may be an issue if you want to hire someone in a country that doesn’t use those currencies. Ask if there are options for paying employees in their local currencies.
What Integrations Does It Offer?
Integrations with other employment software are popular features and can make transitioning to a new HR software provider easier. Review which integrations are available with any software you’re considering.
What Are My Company’s Long-Term Goals?
If you’re planning to scale quickly, you may need a global HR software system with advanced capabilities. Consider your overall growth strategy, future workforce goals, and how the software you choose might fit in.
Which Global HR Software is Right for Your Business?
The right choice depends on your businesses’ needs and goals.
- Deel offers flexible payment options that employees appreciate.
- Oyster offers a variety of useful integrations.
- Rippling’s focus on automation streamlines many processes.
- BambooHR is user-friendly.
- RemoFirst has best-in-class pricing and personalized account support.
Schedule a demo with RemoFirst today to see how it can streamline all of your HR operations.
