Top 5 best EOR provider in Vietnam to hire employees

As one of the fastest-growing economies, Vietnam has become an attractive market for businesses. However, many companies have faced challenges and failures due to a lack of understanding of local workforce resources. Therefore, the best EOR provider in Vietnam plays a crucial role in connecting businesses with suitable candidates. Below, let's explore the top 5 best EOR providers in Vietnam - collaborative entities that help you make informed decisions in recruitment and successfully operate your business in the Vietnamese market.

Many companies provide employer-of-record payroll services in Vietnam

What is an Employer Of Record (EOR)? How does it work?

Before reviewing the list of the best EOR provider in Vietnam, you need to understand this type of business entity. An Employer of Record (EOR) is an organization or entity that legally assumes the responsibility of employing workers on behalf of another company or business entity. This entails taking on all the duties and liabilities associated with employment, such as compliance with labor laws, processing payroll, withholding taxes, and managing employee benefits. Essentially, the EOR becomes the official employer for the workers, handling all administrative and legal tasks related to employment, while the client company maintains operational control and management of the employees' day-to-day activities. EORs can operate domestically within the same country as the client company or internationally in countries with varying employment regulations.

What are EOR services?

EOR services encompass a range of tasks and responsibilities that an Employer of Record Vietnam takes on behalf of a business. These include:

• Ensuring compliance with local employment laws
• Guiding businesses through the hiring process
• Providing employment contracts
• Onboarding new team members
• Managing payroll and taxes
• Administering compensation and benefits
• Handling contract terminations

Essentially, EOR services streamline the administrative and legal aspects of employment, allowing businesses to focus on their core operations while ensuring compliance and efficiency in hiring and managing employees.

Ensuring compliance with local employment laws is the responsibility of the EOR provider

When to use EOR service?

The ideal time to utilize EOR services is entering a new market entry. They offer invaluable key advantages such as:

• Rapid market access: Seamlessly enter new markets within 48 hours, ensuring compliance onboarding through our local entities across the APAC region.
• Cost-effective solution: Enjoy lower setup and ongoing expenses compared to traditional company formation services.
• Risk mitigation: By assuming legal employer responsibilities, Acclime absolves you of all associated liabilities.
• Exit strategy support: Acclime facilitates exit strategies, including company deregistration. EoR serves as a viable option for retaining staff post-entity closure.

Should you choose EOR or PEO?

An Employer of Record (EOR) acts as your workers' official employer, handling HR functions and compliance, eliminating the need for a legal presence in your employees' country. On the other hand, a Professional Employer Organization (PEO) serves as an outsourced HR department, focusing on HR management while you oversee daily operations.

Choose a PEO to outsource HR services while maintaining control, ideal for local business growth where you have existing entities. Opt for an EOR for global expansion, working with talent worldwide.

Benefits of using an EOR in Vietnam

Employing the best EOR provider in Vietnam offers several advantages for businesses looking to expand their operations in the country without the need to establish a local subsidiary. By partnering with EOR Vietnam, companies can leverage a robust infrastructure to streamline the process of hiring Vietnamese employees while saving significant time, effort, and resources.

One of the primary benefits of utilizing an EOR is ensuring compliance with Vietnam's complex employment regulations. Additionally, an EOR takes care of various HR and administrative tasks associated with onboarding, payroll management, and employee management, both locally and globally.

Specifically, the best EOR provider in Vietnam enables businesses to:

• Maintain a legally authorized local entity for hiring Vietnamese employees.
• Accelerate the onboarding process for new employees.
• Ensure timely salary payments and invoice processing without relying on expensive third-party payment services.
• Provide compliant benefits and incentives to employees.
• Navigate termination procedures effectively to avoid legal complications.
• Access expert guidance on Vietnamese employment laws and regulations.
• Stay up-to-date and compliant with evolving local legislation.
• Handle tax withholding and filing, including contributions for social security and unemployment, by Vietnamese laws and regulations.

>>> See more: Payroll Vietnam: Quick Guide (Updated 2024)

EOR ensures timely salary payments and invoice handling, bypassing costly third-party services

Top 5 best EOR providers in Vietnam

Looking to expand your business operations in Vietnam but unsure about navigating the complexities of local employment regulations? Partnering with top EORs in Vietnam can streamline your hiring process and ensure compliance with Vietnamese labor laws. Here are the 5 best EOR provider in Vietnam to consider.

Aniday

Aniday is a platform designed to connect businesses with a network of experts and headhunters to efficiently find and attract top talent. Our achievements and milestones are:

• Over 1,000 businesses worldwide have utilized Aniday's services.
• Aniday boasts a network of over 10,000 professional headhunters.
• Monthly, Aniday receives referrals for thousands of candidates.
• One-third of the candidates referred through Aniday are invited for an interview by the hiring companies.

Aniday's growth trajectory includes notable accomplishments:

• Winner of the "Future of Work" category at the Hanoi Innovation Summit on 08/2019.
• Received investment from Insignia Ventures Partners in 12/2020, aiming to become the top mid & senior-level recruitment platform in INSEA (India - Southeast Asia).
• Surpassed 10,000 members in 01/2021, becoming the largest headhunter community in INSEA without marketing costs.
• Achieved a milestone of over USD 1,000,000 in referral bonuses by 03/2021, facilitating swift recruitment processes for businesses.
• Secured pre-seed funding from CyberAgent Capital in 06/2021, joining forces with leading global innovators in the industry.

Aniday’s core values revolve around trust, impactful focus, and bold execution. We prioritize building trust among team members and partners, focusing on high-impact initiatives, and making bold decisions with fierce execution to drive organizational growth and success.

 Aniday provides Vietnam Employer of Record service

Besides, Aniday is also among the top 10 headhunters in Vietnam

Deel

Deel is an all-in-one HR platform designed to streamline global team management. Founded by Alex Bouaziz and Shuo Wang in 2014, Deel simplifies the complexities of hiring and managing international talent, ensuring compliance with local regulations. With features like instant onboarding, payroll management, and HR support, Deel empowers businesses to work seamlessly across borders. Today, Deel. serves over 15,000 customers, including inxdustry giants like Shopify, Nike, and Cloudflare, making global workforce management easier than ever before.

Deel is a platform for managing and paying remote and freelance workers

Remote

Remote is a global platform that aims to remove barriers to international hiring, allowing companies to work with top talent regardless of their location. With a distributed team spanning across the globe, Remote supports businesses worldwide, offering services that streamline the process of remote work. Their core values include care, innovation, transparency, intensity, and excellence, guiding their approach to building a nurturing and successful environment. Led by CEO Job van der Voort and COO Marcelo Lebre, the company is committed to delivering exceptional customer experiences and revolutionizing the way companies operate in the digital age.

Remote facilitates international hiring, allowing companies to access top talent in Vietnam

Skuad

Skuad is a unified platform that simplifies international hiring, payroll, and HR operations. With coverage in over 160 countries, it offers seamless onboarding, payment processing, compliance management, and country-specific benefits packages for employees and contractors worldwide. Trusted by global leaders, Skuad provides dedicated 24/5 support, transparent pricing with no hidden fees, and a wide range of currency options for payroll.

Skuad simplifies hiring, payroll, and HR operations

Manpower Vietnam

ManpowerGroup is a global leader in workforce solutions, aiding organizations in navigating the evolving world of work. With a focus on talent sourcing, assessment, development, and management, ManpowerGroup offers innovative solutions for businesses worldwide. In Vietnam, ManpowerGroup has been the foremost staffing company since 2008, offering recruitment, staffing, and outsourcing services. Committed to delivering quality talent and enhancing business agility, ManpowerGroup ensures the right match between candidates and job opportunities, driving better outcomes for organizations of all sizes.

Manpower is one of the best EOR provider in Vietnam

How much for using EOR services?

The cost of an Employer of Record (EOR) service varies based on two pricing structures:

• Percentage rates are calculated based on your employees' salaries. While suitable for smaller workforces, this structure may become more expensive over time as you reward and retain experienced staff through promotions and raises.
• Flat rates are becoming increasingly popular due to their long-term affordability. With this model, you pay a set fee per employee, tailoring costs to the specific needs of each individual.

Understanding these pricing options empowers businesses to allocate resources strategically and make informed business investments.

Criteria for selecting the best EOR provider in Vietnam

These criteria help ensure that the selected provider meets the specific needs and requirements of the business:

• Reputation: Research the provider's reputation and track record of success through customer reviews and industry recognition.
• Direct or indirect EOR: Consider whether the provider is a direct or indirect EOR and understand the implications of each approach in terms of service delivery, speed, and cost.
• Experience: Assess the provider's experience and expertise in the industry and regions where you plan to employ talent.
• Support services: Evaluate the range of support services offered by the provider, such as employee onboarding, payroll management, benefits administration, and compliance support.
• Speed and flexibility: Determine the provider's ability to expedite the process of entering new markets and adjust to changing business needs quickly and efficiently.
• Cost: Compare the fees associated with EOR services and consider the potential cost savings compared to setting up entities in each country individually.

By considering these criteria, businesses can make informed decisions when selecting the best EOR provider in Vietnam that fits their requirements and objectives.

The best EOR provider in Vietnam needs to have a strong reputation in the industry and extensive experience

In conclusion, choosing the best EOR provider in Vietnam is a crucial step in streamlining your business operations and ensuring compliance with local regulations. With the right partner, you can unlock opportunities for growth and expansion while mitigating risks associated with international hiring. If you're looking for the perfect EOR solution for your business needs, don't hesitate to contact Aniday. Our dedicated team of experts is here to guide you through the process and help you make informed decisions.