Velocity Global Employer Of Record (EOR) Review For 2024
Velocity Global offers Employer of Record (EOR) services with an international infrastructure and highly responsive support, helping companies hire talent compliantly in over 185 countries.
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In this review, I will share my analysis and evaluation from hands-on experience with Velocity Global. But first, if you're just beginning your search, check out my picks for the best employer of record (EOR) services.
You probably already know that Velocity Global is among the most popular EOR providers. But you need a better understanding of what's good and not so good about it. This in-depth Velocity Global review will walk you through the pros and cons, features, and functionality to help you better understand its capabilities and suitability for your needs.
Summary: Velocity Global
Velocity Global is a leading global talent solutions provider that helps companies expand internationally. It serves businesses across industries looking to hire supported employees, contractors, and freelancers globally in a compliant manner. Velocity Global facilitates international expansion by providing employer of record (EOR) services and acting as a professional employer organization (PEO).
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Velocity Global addresses common human resources pain points like navigating country-specific employment laws, compliant worker classification, and managing international payroll and benefits. It offers global Employer of Record services in 185+ countries, streamlined contractor management, and strategic consulting and advisory solutions to guide global growth.
Velocity Global Pros
- Global reach: Provides employer-of-record services in over 185 countries, with broader coverage than many competitors.
- Comprehensive services: Offers end-to-end global employment solutions including entity setup, payroll, immigration support, and HR compliance.
- Customer support: Known for providing dedicated and responsive customer service to clients.
Velocity Global Cons
- Technology: While Velocity Global has a cloud platform, some competitors may offer more advanced technology and integrations.
- Variable expertise: Some user reviews indicate inconsistent expertise and knowledge levels across countries and regions.
- Benefits administration: Some competitors offer more comprehensive global benefits and perks than Velocity Global.
Velocity Global Expert Opinion
From my perspective, Velocity Global provides a solid Employer of Record platform that enables companies to hire talent in over 185 countries. Its cloud-based software handles core global employment tasks like global onboarding, payroll, benefits, and compliance. The interface is intuitive, and the customer support is responsive.
However, the pricing can get costly for businesses that don't hire internationally at high volumes. It also offers less flexibility in some areas compared to leading competitors, such as country-specific benefits and global equity management. Providers like Papaya Global and Globalization Partners outperform it in a few specialized features and customization abilities.
That said, Velocity Global remains an excellent choice for mid-sized and larger organizations pursuing global expansion of their workforce. Its extensive country coverage, ease of use, and dedicated service make it a top contender among EOR solutions. Those with more niche needs may prefer certain alternatives, but Velocity Global capably handles most global hiring and employment situations. I believe its strengths outweigh its weaknesses for the majority of use cases.
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Are You A Good Fit For Velocity Global?
Who would be a good fit for Velocity Global?
Companies expanding globally and needing to hire employees compliantly in new countries would benefit most from Velocity Global. It provides legal entity establishment, payroll, benefits, and HR support in over 185 countries, allowing companies to quickly onboard international employees without setting up their entities. Fast-growing companies looking to test new markets or hire remote global talent are a great fit.
Who would be a bad fit for Velocity Global?
Small businesses only hiring locally or not planning international expansion would not need Velocity Global's services. Companies with an existing global presence and legal entities in countries where they hire may also not require Velocity Global unless they want to outsource international payroll and HR. Organizations at a very early stage that are not ready to navigate the complexity of global hiring are likely not an ideal fit yet.
Best Use Cases for Velocity Global
- Fast-growth startups: Velocity Global enables startups to hire quickly in new markets without setting up legal entities, providing fast and compliant onboarding.
- Tech companies: Velocity's extensive country coverage allows tech companies to find specialized talent globally to support their innovation.
- Expanding sales: For companies growing their sales presence internationally, Velocity simplifies onboarding remote sales reps in compliance with local laws.
- US to Europe: With experts across Europe, Velocity is ideal for US companies hiring their first employees in European markets.
- Project-based hiring: Velocity offers flexible contracts for companies to rapidly staff project teams without long-term commitments or blowing payroll budgets.
- Employee relocation: Velocity's global immigration services make cross-border employee transfers possible for global mobility.
Worst Use Cases for Velocity Global
- Very large companies: Enterprises with a company size of over 1,000 employees may find Velocity's pricing less competitive than establishing their own entities.
- Regulated industries: Companies in heavily regulated sectors like finance or healthcare may prefer more direct control over employment arrangements.
- Lowest-cost countries: In markets with extremely low labor costs, Velocity's fees may constitute a high percentage of the total employment costs compared to hiring directly.
- Direct management: An Employer of Record (EOR) may not provide adequate oversight and control for roles that require close in-person supervision.
- Strong employer brand: Companies that greatly value their employer brand and culture may find it challenging to convey that through an EOR.
- Committed offshoring: If a company hires many employees in a country long-term, establishing an entity may be more cost-effective than an indefinite EOR.
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Velocity Global Evaluation Summary
- Core Functionality: ⭐⭐⭐⭐
- Standout Features: ⭐⭐⭐⭐
- Ease of Use: ⭐⭐⭐⭐
- Onboarding: ⭐⭐⭐⭐⭐
- Customer Support: ⭐⭐⭐⭐
- Integrations: ⭐⭐⭐
- Customer Reviews: ⭐⭐⭐⭐
- Value for Money: ⭐⭐⭐⭐
Review Methodology
We are a team of software experts who obsess over the features and functionality of different platforms. We understand how critical—yet difficult and confusing—software selection can be. We test and score software to find the best solutions, whatever the use case.
Using our objective, data-driven testing methodology, we have tested over 300 software products. We dedicate ourselves to fully and fairly objective testing software, cutting through the marketing fluff to truly understand each platform.
We created extensive testing scenarios that allow you to use the product exactly as you would. We use our firsthand, practical knowledge of the technologies, supplemented by interviews with users, experts, and software vendors.
How We Test & Score Employer Of Record (EOR) Services
We've spent years building, refining, and improving our software testing and scoring system for employers of record. The rubric is designed to capture the nuances of software selection, and what makes an employer of record effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring work across eight criteria. This approach enables us to offer an unbiased evaluation of the software's core functionality, standout features, ease of use, onboarding process, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
For an EOR, the core functionality we test and evaluate are:
- Payroll: Process payroll accurately and on time.
- Taxes: Handle all tax withholdings and filings.
- Benefits: Administer health insurance, 401k, and other benefits.
- Compliance: Ensure compliance with employment laws and regulations.
- Onboarding: Manage new hire paperwork, background checks, and I-9 verification.
- HR support: Provide HR guidance and handle employee relations issues.
Standout Features (20% of final scoring)
We evaluate uncommon, standout features that go above and beyond the core functionality defined and typically found in the employer of record (EOR). A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
Ease of Use (15% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the employer of record (EOR). High-scoring software is well-designed, intuitive, offers mobile apps, provides templates, and simplifies relatively complex tasks.
Onboarding (10% of final scoring)
We understand the importance of rapid team adoption for a new platform, so we assess how easy it is to learn and use the employer of record (EOR) with minimal training. We evaluate how quickly a team member can get set up and begin using the software without prior experience. High-scoring software indicates that little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Employer of record (EOR) that provides real-time support scores best, while chatbots score worst.
Integrations (10% of final scoring)
We evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Employer of record (EOR) offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Customer Reviews (10% of final scoring)
Beyond our testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the employer of record (EOR) again for the core functionality. A high-scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, considering all the other criteria, we review the average price of entry-level plans against the core features and assess the value based on the other evaluation criteria. Software that delivers more for less will score higher.
Through this comprehensive approach, which focuses on core functionalities, standout features, usability, onboarding, customer support, value, and customer reviews, we aim to identify employer of record (EOR) solutions that not only meet but exceed expectations, ensuring teams have the tools they need to succeed.
Velocity Global Review
Core Employer of Record (EOR) Functionality
Payroll and Taxes: Velocity Global handles all payroll processing and ensures taxes are properly withheld and remitted in each country. They stay up-to-date on local tax laws.
Time Tracking and Workforce Management: Velocity Global offers tools for workforce management, including monitoring employee hours and productivity across time zones. Their platform supports real-time tracking and compliance with local labor laws.
Leaves and Time Off Management: Velocity Global manages leave and time off, ensuring compliance with local labor laws. Their platform tracks and records PTO and leave requests, balances, and approvals, integrating with payroll and HR systems.
Contracts: Velocity Global provides locally-compliant employment contracts, ensuring they meet legal requirements in each jurisdiction.
Onboarding: Velocity Global offers a comprehensive onboarding process for international employees, covering new hire paperwork, background checks, equipment provisioning, and orientation.
Employee Experience and Engagement: Velocity Global enhances the employee experience and engagement with tailored programs, including regular check-ins and wellness initiatives, fostering a positive and inclusive company culture.
Velocity Global Standout Features
Talent Acquisition and Recruitment: Velocity Global assists businesses in finding and hiring top talent globally, managing the recruitment process from sourcing candidates to final selection.
Proprietary Technology: Velocity Global has developed its own global payroll and HR platform that provides real-time data and analytics to streamline workforce management.
Ease of Use
Velocity Global's technology platform and service model streamline international employment. Clients work with a single service team that coordinates everything, reducing the need to navigate foreign rules and systems.
Onboarding
Velocity Global assigns a dedicated onboarding specialist to each client. The specialist helps complete new hire documentation, conduct background checks, set up payroll, and enroll employees in country-specific benefits.
Customer Support
Velocity Global offers customer support through phone, email, and an online help center. Clients also have access to a dedicated client service representative and a client portal for real-time payroll and HR data.
Integrations
Velocity Global integrates with ADP, UKG Pro, BambooHR, Workday, Rippling, Namely, Zenefits, Gusto, and Paychex.
The platform also has an open API for custom integrations, with implementation team support for deployment.
Value for Money
Velocity Global's pricing is generally considered average within the industry. While it may not be the cheapest option available, the comprehensive services and global reach they offer provide good value, especially for businesses looking to expand internationally with minimal hassle. The company does not provide specific pricing details publicly, and interested parties must contact the sales team for a quote.
Pricing plan options
- Global EoR: This plan includes hiring and managing employees across 185+ countries without the need for local entities. It covers compliance, payroll, benefits, and risk mitigation.
- Global Work Platform™: This platform integrates payroll, HR, and compliance features into one system, ensuring streamlined management of a global workforce.
- Multi-country payroll: Facilitates accurate and compliant payroll across multiple countries, reducing administrative burdens and ensuring timely payments.
These plans are designed to meet the needs of various businesses, from small startups to large enterprises, offering flexibility and scalability to support global growth efficiently.
Product Specifications
| Feature | Velocity Global |
| Global payroll processing | ✅ |
| Compliant employment contracts | ✅ |
| Local labor law compliance | ✅ |
| IP protection | ✅ |
| Background checks | ✅ |
| Benefits administration | ✅ |
| Onboarding support | ✅ |
| Expense reimbursements | ✅ |
| Tax filings | ✅ |
| Currency exchange | ✅ |
| Online platform | ✅ |
| Consulting services | ✅ |
| Shadow payroll | ❌ |
| Visa & immigration support | ❌ |
| Employer liability insurance | ❌ |
| M&A & divestitures support | ❌ |
Velocity Global Alternatives
If you're looking for alternative EOR options to Velocity Global, here are a few worth checking out:
- Papaya Global: Offers more robust global payroll and workforce management tools in addition to EOR services.
- Remote: Focuses heavily on providing best-in-class customer support along with its EOR offering.
- Globalization Partners: Has a larger footprint, with entities already established in over 180 countries.
- Deel: Serves as a payroll and compliance partner for companies hiring contractors and full-time employees globally.
Velocity Global Frequently Asked Questions
Check out our answers to some FAQs about Velocity Global:
What is Velocity Global?
Velocity Global is a leading provider of global workforce solutions. It helps companies expand internationally by hiring employees and managing payroll, benefits, and compliance in over 185 countries. The technology and expertise provided makes it easy for businesses to build global teams without the cost and complexity of setting up foreign legal entities.
Is there a mobile app for Velocity Global?
Yes, Velocity Global offers a mobile app for iOS and Android devices. The app allows employees to view their payslips, request time off, and access other HR information from their smartphones. Managers can also use the app to approve time off requests and view reports on the go. The app is available for free in the App Store and Google Play.
Is Velocity Global HIPAA compliant?
Yes, Velocity Global is HIPAA compliant. The company has implemented appropriate safeguards to protect the privacy and security of protected health information (PHI) as required by HIPAA regulations. This includes:
- Encrypting data at rest and in transit
- Conducting regular risk assessments
- Training employees on HIPAA requirements
- Limiting access to PHI to authorized personnel only
- Maintaining a business associate agreement with covered entities
Is Velocity Global SOC 2 compliant?
Yes, Velocity Global has achieved SOC 2 Type II compliance. This means an independent auditor has verified that they follow strict information security policies and procedures. The company’s SOC 2 report demonstrates their commitment to keeping client data private and secure. Velocity Global is audited on an annual basis to maintain its SOC 2 compliance.
Is Velocity Global secure?
Yes, the company has industry-standard security measures to protect their client’s confidential information, including:
- 256-bit data encryption
- Two-factor authentication
- Intrusion detection and prevention
- 24/7 security monitoring
- Annual security awareness training for employees
Velocity Global’s security practices are also regularly audited by third parties to validate their effectiveness.
Is Velocity Global FedRAMP certified?
No, Velocity Global is not currently FedRAMP certified, but it does serve clients in highly regulated industries.
Is Velocity Global GDPR compliant?
Yes, Velocity Global is fully compliant with the EU General Data Protection Regulation (GDPR). The company acts as a data processor on behalf of its clients and has taken steps to ensure it meets all GDPR requirements, including:
- Appointing a Data Protection Officer
- Updating their privacy policy
- Implementing data processing agreements
- Providing tools for data access, portability and deletion requests
- Reporting data breaches within 72 hours. They also offer a GDPR-compliant data processing addendum (DPA) to clients.
What sets Velocity Global apart from other global workforce management providers?
Velocity Global stands out due to its comprehensive service model, proprietary technology platform, and extensive global network. They offer tailored solutions for global workforce management, ensuring compliance, efficiency, and seamless integration with clients’ existing systems.
Velocity Global Company Overview & History
Velocity Global provides global talent acquisition, payroll, benefits administration, and compliance services. Headquartered in Denver, Colorado, the firm operates entities in more than 185 countries worldwide. This enables Velocity Global to hire employees for their clients in multiple countries, handling the legal, HR, and payroll complexities of international employment.
In 2021, Velocity Global reached a $400 million valuation after a $100 million funding round. The company serves over 1,000 clients, including notable companies like Roku, Udemy, and SoFi. Recognized for its growth and corporate culture, Velocity Global was named one of Inc. 5000's fastest-growing companies in the US.
Velocity Global Major Milestones
- 2014: Founded by Ben Wright in Denver
- 2018: Opened offices in Amsterdam, Bogotá, Dubai, São Paulo, Singapore, and San Francisco
- 2019: Included on the Inc. 5000 list of fastest-growing US companies
- 2020: Expanded to over 185 countries; acquired iWorkGlobal
- 2021: Raised $100 million in Series A funding, reaching a $400 million valuation
- 2022: Expanded leadership team with new C-suite hires
Want to learn more about Velocity Global? Check out their site for additional information.
Pricing upon request
Free demo available
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