In today’s globalised economy, businesses are increasingly hiring international employees. This trend comes with the challenge of managing international payroll and compliance across different countries, each with its own legal requirements and tax systems. Two popular platforms, Velocity Global and Globalization Partners, offer solutions designed to simplify international hiring. But which one is best suited to your business needs? In this article, we compare the features and costs of these two prominent global employment platforms, Velocity Global vs Globalization Partners.
Overview of Velocity Global
Velocity Global provides a comprehensive suite of services designed to help companies manage global payroll, compliance, and hiring. It offers a range of solutions, including:
- Employer of Record (EOR): This allows companies to hire employees in different countries without establishing a local entity. Velocity Global becomes the legal employer, handling payroll, taxes, and compliance.
- Global Payroll: Velocity Global provides payroll solutions tailored to local regulations and tax laws, ensuring compliance across multiple countries.
- Contractor Management: The platform supports businesses in managing independent contractors with a focus on compliance and legal protection.
- Global Immigration: For businesses needing to relocate or hire foreign talent, Velocity Global offers support with visas and immigration processes.
Overview of Globalization Partners
Globalization Partners is another leading platform in the international hiring space. Similar to Velocity Global, it offers a suite of services designed to simplify hiring across borders. Its key services include:
- Employer of Record (EOR): Like Velocity Global, Globalization Partners allows businesses to hire globally without setting up local entities, assuming responsibility for employment contracts, payroll, and legal compliance.
- Global Payroll and Benefits: The platform handles payroll in over 180 countries, ensuring that employees are paid accurately and on time, with benefits tailored to local markets.
- Contractor Management: It provides a similar service for managing contractors, ensuring that businesses adhere to local laws and regulations.
- Compliance and Legal Support: Globalization Partners takes responsibility for legal compliance, protecting businesses from the complexities of international employment laws.
| Feature | Velocity Global | Globalization Partners |
|---|---|---|
| Global reach | Operates in over 185 countries | Operates in over 180 countries |
| Employer of Record (EOR) | Yes, enables hiring without establishing local entities | Yes, enables hiring without establishing local entities |
| Customisation | Highly customisable services tailored to business needs | More standardised service offerings, less customisable |
| Global payroll | Comprehensive payroll solutions in multiple countries | Comprehensive payroll solutions in over 180 countries |
| Contractor management | Yes, with a focus on compliance and legal protection | Yes, also ensuring local law compliance |
| Onboarding speed | Fast, typically within a few days | Fast, typically within a few days |
| Compliance support | Strong local expertise, ensuring tax and legal compliance | Strong compliance framework, specialised in complex regulations |
| Immigration support | Global immigration services, including visas | Not a primary feature, but may offer limited support |
| Legal services | Comprehensive support for legal compliance in various countries | Handles compliance and employment law in over 180 countries |
| Technology platform | User-friendly platform with real-time data analytics | User-friendly, cloud-based platform with easy-to-use interface |
| Cost (EOR services) | £300-£700 per employee per month depending on country | £400-£800 per employee per month, more standardised pricing |
| Cost (contractor management) | Competitive, varies depending on service requirements | Included in the standard pricing structure |
| Customer support | 24/7 customer support available | 24/7 customer support available |
| Scalability | Highly scalable across various markets | Focus on scalability, particularly in standardised operations |
| Market focus | Best for businesses with diverse, complex needs | Best for businesses seeking simplicity and ease of use |
| Integration | Integrates with existing HR systems | Integrates with existing HR systems |
Comparing features
While both platforms offer similar services, there are some distinctions worth noting.
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Global reach
- Velocity Global: Operates in over 185 countries, offering a vast global reach that can support even the most complex international expansion efforts.
- Globalization Partners: Covers more than 180 countries, which is comparable, but Velocity Global has a slight edge in terms of sheer reach.
Customisation and flexibility
- Velocity Global: Known for offering highly customisable solutions. It allows businesses to tailor their services depending on specific needs, whether it be full EOR services, contractor management, or just payroll solutions.
- Globalization Partners: Takes a more streamlined approach, offering robust EOR and payroll services but with less customisation in comparison to Velocity Global. It is particularly attractive to businesses looking for simplicity and scalability.
Onboarding speed
- Velocity Global: Typically known for its swift onboarding process, allowing businesses to start employing internationally within days.
- Globalization Partners: Offers a similarly fast onboarding process, often enabling companies to have employees on board within a few days, depending on local regulations. Both platforms are competitive in this regard.
Compliance support
- Velocity Global: Has strong compliance solutions, with in-depth local expertise ensuring that companies remain compliant with local laws and tax regulations.
- Globalization Partners: Also has a strong compliance framework, and it positions itself as being particularly adept at managing complex international laws. Both platforms excel here, though some businesses may prefer one over the other based on specific regional needs.
Comparing costs
While costs for these platforms can vary based on the size of your business, the number of employees, and the regions in which you operate, there are some general cost trends to consider.
Velocity Global
- Pricing is typically more customisable and dependent on the specific services a business needs.
- For the Employer of Record services, costs can range between £300-£700 per employee per month, depending on location and complexity of services.
- Contractor management fees may vary but generally remain competitive in the global employment solutions market.
Globalization Partners
- The pricing structure is more standardised, with a set fee per employee, generally falling between £400-£800 per employee per month, depending on the country.
- Globalization Partners tends to bundle its services together, which can be beneficial for businesses looking for a simple, all-inclusive solution, but it may be less cost-effective for companies with more specific needs.
Comparing key company statistics
When evaluating global employment solutions, it’s important to look beyond features and pricing to consider the overall scale, reach, and financial stability of the providers. Below is a comparison of some key company statistics for Velocity Global and Globalization Partners.
| Statistic | Velocity Global | Globalization Partners |
|---|---|---|
| Year founded | 2014 | 2012 |
| Headquarters | Denver, Colorado, USA | Boston, Massachusetts, USA |
| Global employee count | 900+ | 1,500+ |
| Countries covered | 185+ | 180+ |
| Annual revenue | Estimated £300 million+ | Estimated £1 billion+ |
| Funding raised | £400 million (as of 2022) | £100 million (as of 2020) |
| Customer base | Over 1,000 customers | Over 2,000 customers |
| Client satisfaction rate | High, rated 4.7/5 on major review platforms | High, rated 4.8/5 on major review platforms |
| Notable recognitions | Named to Inc. 5000 for fastest-growing companies | Named “Top Employer” by Forbes |
| Compliance guarantee | 100% compliance with local employment laws | 100% compliance with local employment laws |
This comparison highlights the scale at which both companies operate and their growth trajectories. Globalization Partners has a larger overall employee count and revenue, while Velocity Global is known for rapid expansion and significant investment backing. Both companies have strong customer bases and reputations for compliance and client satisfaction.
Which is best for your business?
Choosing between Velocity Global vs Globalization Partners depends largely on your business’s priorities.
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- Velocity Global: If you need more flexibility in your service options, or if you’re entering a wide range of markets with complex legal environments, Velocity Global might be the better choice. Its customisable services and extensive geographic reach make it well-suited for businesses with diverse needs.
- Globalization Partners: If your business values simplicity and wants an all-in-one solution that is easy to manage, Globalization Partners offers a streamlined service with competitive pricing. It’s ideal for businesses focused on scalability and growth, particularly in standardised global operations.
Final thoughts – Velocity Global vs Globalization Partners
Both Velocity Global and Globalization Partners offer valuable solutions for businesses expanding internationally.
The right choice depends on your company’s specific needs, including the complexity of your operations, the number of markets you plan to enter, and the level of customisation you require.
While Velocity Global may offer more flexibility, Globalization Partners provides simplicity and a more standardised approach, making both platforms strong contenders in the global employment space.
FAQ – Velocity Global vs Globalization Partners
Both platforms allow seamless employee transfers between countries by managing legal and compliance aspects. However, the complexity of the process depends on the countries involved and specific employment regulations in those regions.
Yes, both Velocity Global and Globalization Partners handle local benefits. They customise packages to align with local regulations, ensuring employees receive legally mandated benefits such as healthcare, pensions, and leave entitlements in their respective countries.
Yes, both platforms are scalable and can serve small businesses looking to expand internationally. Globalization Partners may be particularly appealing to smaller businesses due to its more standardised, all-in-one pricing, which simplifies budgeting.
Both platforms support multi-currency payroll processing, allowing businesses to pay employees in local currencies. This reduces the complexity of managing currency conversions and helps ensure employees are paid accurately according to local standards.
Both Velocity Global and Globalization Partners prioritise data security, using encryption and other security protocols to protect sensitive employee information. They comply with international data protection standards, such as GDPR, to safeguard against data breaches.
Neither platform is specifically known for a dedicated mobile app, but both offer cloud-based, user-friendly platforms accessible on mobile devices. This ensures that employers can manage global teams from anywhere with internet access.
Contract lengths vary, and both platforms offer flexible agreements. Typically, businesses can engage with short-term contracts or longer-term solutions depending on their needs, making them adaptable to different business models.
Both Velocity Global and Globalization Partners manage terminations in compliance with local employment laws. They ensure that the correct legal processes are followed, including final payments, notice periods, and severance, to minimise risk for employers.
Yes, both platforms offer assistance with international tax reporting. They ensure that local tax regulations are met, simplifying the process for businesses while reducing the risk of non-compliance with foreign tax laws.
Both platforms offer contractual frameworks that ensure intellectual property protection. They work with businesses to structure employment contracts that secure the employer’s rights over IP created by international employees, ensuring compliance with local laws.