Employer of Record (EOR) Services In Slovakia
Using our EOR services in Slovakia allows you to access the opportunities of the Slovakian market within days while we take care of the paperwork for hiring your workforce compliantly.
Employer of Record (EOR)
Slovakia is a developed country with an advanced high-income economy, ranking very high on the Human Development Index. It also performs favourably in measurements of civil liberties, press freedom, internet freedom, democratic governance, and peacefulness. The country maintains a combination of a market economy with a comprehensive social security system, providing citizens with universal health care, free education, and one of the longest-paid parental leaves in the OECD.
Hassle-Free Expansion
Two governments of the “liberal-conservative” Prime Minister Mikuláš Dzurinda (1998–2006) pursued macroeconomic stabilisation policies and market-oriented structural reforms. Nearly the entire economy has been privatised, and foreign investment has picked up. Economic growth exceeded expectations in the early 2000s, despite a recession in key export markets. In 2001 policies of macroeconomic stabilisation and structural reform led to spiralling unemployment.
In 2007, Slovakia obtained the highest GDP growth among the members of the OECD and the EU, with a record level of 14.3% in the fourth quarter. In 2014, GDP growth was 2.4%; in 2015 and 2016, Slovakia’s economy grew by 3.6% and 3.3%, respectively. The GDP per capita equalled 78% of the average of the European Union in 2018. It ranges from 188% of the EU average in Bratislava to 54% in Eastern Slovakia.
But each new market brings new challenges. These can be worked through efficiently and cost-effectively with the support of an international Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework. This can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.
Benefits of Using EOR Services in Slovakia
For Employers
As an employer, you are usually responsible for all legal aspects regarding your employees’ employment. In a new country, this process will probably take some more effort, but it does not have to. We have extensive experience with Slovakian payroll, taxes, and other local laws and regulations at Bradford Jacobs.
We can help you with the following:
For Employees
Employees are the central core of your business. They keep the engine running; therefore, creating a stable agreement that satisfies both employer and employee is essential. As a legal employer, the EOR is responsible for keeping employees happy with the work agreement. Due to our broad network and experts, we can offer employees great benefits and a reliable, compliant employment contract.
We will make sure they enjoy the following:
