Revolutionize Your IT Workforce with Leading EOR Services in Belarus

An Employer of Record (EOR) is a third-party organization that takes on the legal responsibilities of employing workers on behalf of another company. This includes managing payroll, taxes, benefits, and compliance with local labor laws. By using an EOR, businesses can hire employees in different regions without needing to establish a legal entity in those locations, making it an ideal solution for international expansion and remote workforce management.

Using EOR services offers numerous benefits, including:

• Compliance: Ensures adherence to local employment laws and regulations, reducing legal risks.
• Cost Efficiency: Saves money by eliminating the need to set up a legal entity and manage administrative tasks.
• Speed: Facilitates quick hiring and onboarding processes, allowing businesses to start operations swiftly.
• Focus: Allows companies to concentrate on their core business activities while the EOR handles HR and administrative responsibilities.
• Flexibility: Supports hiring in multiple locations, enabling global expansion and access to diverse talent pools.

Yes, EOR services are highly flexible and can be tailored to suit the needs of any business size, whether you need to hire a single remote employee or manage a small team. This flexibility allows startups and small businesses to expand their operations without the complexities of setting up legal entities and managing local compliance issues.

An EOR (Employer of Record) and a PEO (Professional Employer Organization) both provide HR and administrative services, but they differ in scope and responsibility. An EOR becomes the legal employer of the workers, handling all employment-related tasks. In contrast, a PEO co-employs the workers, sharing employer responsibilities with the client company. PEOs are typically more suitable for domestic employment, while EORs are ideal for international hiring and managing remote workers.

Yes, an Employer of Record can be used to hire for executive roles. By leveraging EOR services, companies can ensure compliance with local employment laws, manage complex compensation packages, and provide executive-level benefits. This is particularly useful for businesses looking to expand into new regions and attract top-tier executive talent without the need to establish a physical presence in those locations.

Our team has developed frameworks and obtained all necessary clarifications from regulators to provide such services to our clients. You can be fully assured that our partnership will be entirely legal and legitimate.

In addition to signing an MSA (master service agreement) with our clients, we also sign an insurance agreement in which the client commits to making an insurance deposit equivalent to one month’s salary of the employee, including all taxes and banking fees. This deposit is used by us in cases of employee termination for final settlement, payment of vacation pay, or covering sick leave payments. Since we invoice our clients once a month, there is often no opportunity to receive money from clients on short notice, which is why the insurance deposit is utilized.

This is a common practice in the IT sector in Belarus. Employment contracts rarely specify salaries only in Belarusian rubles. Most employees prefer to see their salaries linked to euros or US dollars. This preference arises due to the strong volatility of the Belarusian ruble. In agreement with the client, we specify the employee’s salary amount in euros or US dollars in employment contracts and calculate it according to the exchange rate of the National Bank of the Republic of Belarus (NBRB) on the last day of the month for which the salary is paid.

It’s worth noting that, according to Belarusian legislation, we are obliged to calculate the salary based on the NBRB rate, but we sell foreign currency at a private bank, where the rate is lower than the NBRB rate (it should be reminded that the employee will receive the salary according to the NBRB rate, and in practice, we receive less in Belarusian rubles to our account). Therefore, currency differences arise, which the client must also cover (in practice, for a salary of $4,000 USD, the currency difference amounts to no more than $50 USD).

Additionally, there is an option to use a special banking solution that allows for automatic conversion of the allocated Belarusian rubles to the employee’s euro or US dollar account at the NBRB exchange rate, which is a more convenient solution for the employee and reduces losses due to exchange rate differences.

As mentioned earlier, we can organize medical insurance and various compensation and bonuses for the client’s employees. Often, medical insurance in the Republic of Belarus does not offer the same extensive coverage as in Europe or the United States, so the practice of providing “Health money” is common, where we pay the employee an equivalent amount of their annual insurance coverage as a premium. We can also organize coworking space rental or rent a separate office for the client’s employees. Our team can handle many internal processes of the client’s company for their employees under EOR conditions. These may include branded “welcome packs,” greetings for themed holidays, and team-building activities. HR/recruiting outsourcing can also be arranged, integrated into the client’s company, and responsible for all HR processes within the client’s team.