In today’s digital world, international expansion is easy till it is time to onboard talent from foreign countries. But with Employer of Record (EOR) platforms like Multiplier and Oyster HR, the entire global recruitment process becomes seamless.
Both platforms are incredible, with top-notch international employment features. However, since you have to choose between the two, this article will equip you to make a better decision.
Now, let’s get in!
Part 1: Multiplier Vs. Oyster Comparision Chart
|Starts at $40
|Starts at $29
|ESOPs & RSU Support
|Free HR Tools
|Non-profits & Refugess
|Instant Contract Generation
|Visit Osyter HR
Multiplier is an all-in-one EOR platform that assists global teams in international payroll, taxes, social contributions, & local insurance policies. Currently, they’re present in over 150 countries with 120+ support.
Established in 2020, Multiplier has established itself as a global EOR organization. The Multiplier platform handles payroll management, taxes, contracts, HRMS, compliance, and many more.
Additionally, it lets you onboard global employees in a few clicks – while staying compliant. They also have over 100 legal experts, on-site and online, to help you with every local employment contract and document.
Oyster HR is an EOR platform that allows international teams to hire, pay, and care for their diverse workforce. With Oyster HR, users can employ employees in over 180 countries at no extra charge.
The best part is that Oyster enables global employers to provide localized benefits like health and dental coverage for their team – no matter where they live.
And multi-country payroll management is not left out. Oyster has robust international payroll functionalities that support over 150 currencies. As if that’s not enough, Oyster has a system that lets you convert freelancers and contractors into full-time employees seamlessly.
Part 2: Multiplier Vs. Oyster – Similarities
Even though they’re different entities, Multiplier and Oyster share some basic similarities worth highlighting. This section will analyze the main similarities between these leading EOR platforms.
1. Entities and Local Expertise
Local entities and expertise are one of the main things to look for in an EOR organization. And, Multiplier and Oyster didn’t fail in this regard. They both have entities and local presence in their member countries.
Multiplier owns entities across APAC, Europe, and the Americas, with a global presence across 150 countries. Similarly, Oyster holds entities in a number of their countries but uses partners in some others.
2. International Payroll
International payroll management is another primary function of an EOR partner. It’s a payment structure that simplifies the process of paying global staff salaries and other forms of allowances in their currencies.
Again, Multiplier and Oyster have an efficient global payroll system that processes payments in 100+ countries. Both platforms tick this box.
3. Locally-Compliant Contracts
Every country has unique local employment laws and protections – hence the need for locally-complaint contracts. Locally diverse legal teams better approach these diverse in-laws.
Oyster and Multiplier have a formidable legal expert team that caters to every local labour law and contract issue.
Security is at the core of every EOR platform. Oyster uses an enterprise-grade security system to protect employees’ and employers’ data and files. Also, all data and database files are encrypted with end-to-end protection.
Similarly, Multiplier has an institutional-grade security architecture that prevents data leaks and losses.
Part 3: Multiplier Vs. Oyster – Differences
a. Fees for Contractors
Oyster has no extra fees or charges for contractors. That means users won’t pay anything extra apart from the primary contractor/monthly freelancer subscription. While with Multiplier, there are some minor card charges for additional contractors.
b. Discounts for Refugees and Non-profit
Oyster’s website offers a transparent pricing discount for non-profits and refugees. These discounts enable them to quickly scales their small teams without breaking the bank. On the other hand, there’s no stipulated pricing for refugees and non-profits on Multiplier’s website.
c. Global Mobility & Visa Support
The multiplier platform doesn’t stop at enabling global teams to hire and retain talents; they also have strategic partnerships that provide global mobility and visa support. That said, your new hires can easily travel for conferences and annual conventions with their team.
Alternatively, Oyster does not have arrangements for global mobility and visa support.
d. Free Tools
Many free tools on the Oyster platform can help global teams retain their talents. Some of which are Employee Cost Calculator, Employee Misclassification Analyzer, Contractor vs Full-Time Employee Analyzer, etc. Similarly, Multiplier has only Job Description templates and worksheets.
Part 4: Multiplier Vs. Oyster – Drawbacks
So, I’ll be plain with you on this one. Oyster and Multiplier are not all sunshine and roses.
Here are some of their drawbacks.
Drawbacks of Multiplier
- Not very efficient with customer support
Drawbacks of Oyster
- No 24/7 customer support
Generally, these drawbacks are due to the difference in time zones. They’re working on getting 24/7 customer support.
Part 4: Multiplier Vs. Oyster – Pricing
Oyster has a free plan which you can use to explore the platform. When you’re convinced, you can opt-in for any of their paid methods, as captured in the screenshot.
The Contractor Plan – $29/month: this plan enables teams to hire contractors in 180+ countries, process invoices in 120+ countries, and reduce risk with IP protection.
The Employee Plan – $499: This plan offers compliant full-time hire in 130+ countries, international payroll and taxes in 120+ countries, integration with tools you already use, etc.
The Scale Plan – Custom Pricing: It includes customized global employment support, dedicated success managers, and cost savings for large and growing firms.
Multiplier has two main pricing models.
Employees Package – $300: It covers instant employment contracts, multi-country payroll, multi-currency payments, expense and leave management, etc.
Freelancers Package – $40: It includes instant contracts, multi-currency and crypto payments, insurance, and 24/7 support.
It was worth reiterating that these EOR platforms are powerful. My verdict is based on what they can offer and their functionalities.
I’d recommend Oyster HR. They have great features and a sleek UI. Not just that, but their project model is suitable for both a startup and a Fortune 500 company. You can start with their free plan to explore the platform.
We live in a borderless world. And it’s never been this easier to hire employees globally. Kudos to the minds behind these platforms.
If you have any questions, kindly drop them in the comment box below.