EMPLOYER OF RECORD SERVICES

WHAT IS AN EMPLOYER OF RECORD?

An employer of record is an organization, like HRSG, that serves as the employer for tax purposes while the employee performs work at a different company. The employer of record takes on the responsibility of traditional employment tasks and liabilities.

The employer of record handles all personnel functions, including:

• Processing and funding payroll
• Depositing and filing taxes
• Handling NIB unemployment
• Collecting and processing time sheets
• Creating and maintaining employment contracts
• Employee onboarding (new hire)
• Maintaining certificate of good standing when necessary
• Doing background checks and drug screenings
• Offering and administering benefits
• Terminating employees
• Bookkeeping and Accounting Services

EMPLOYER OF RECORD BENEFITS

By using an employer of record, recruiters and other businesses can free up time. Not having to deal with payroll and HR issues can potentially save hours.

An employer of record is a cost-effective way to outsource payroll and HR functions. The business pays the employer of record a set rate for every hour the employee works, and the employer of record handles all tasks.

Employer of record services can be especially helpful when dealing with payroll processing and employment laws for employees in The Bahamas. The employer of record stays updated on the local laws so you, the business owner, don’t have to worry about learning and complying with laws in multiple places.

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