Transcript
Where you see that start shifting, right? And this is what I've noticed over the last five to ten years, as you know, there's been a lot of influx and funding into the EOR, which has done great for the industry because it's now people understand it. Like taking a step back, when I used to sell EOR out the gate, the c the question was, How are you doing this and how is this legal? Like that was the they just couldn't wrap their head around it, they didn't understand the service. And so you like that was a now the conversation is why you versus them. So
Matthew Mottola: Ha ha ha
Charlie McGinn: the buyer now coming in is educated about EOR and they're trying to provide the supplier to match their needs, whether it is tech enabled, whether they want, you know, an account management team and human first type of approach, so on and so forth. So that's been the big adjustment. Then as you see that, you see clients now or companies now looking at EOR to say, that is my agent of growth. Like they've done their research. They know that they want to expand these regions because there might be a new market they want to tap into. Or there's an amazing talent pool that they can bring in under their organization. So it's not just the engagement for John Smith in Egypt. I can't stop. John Smith in Egypt. It is there is a pat there is a pocket of very highly skilled individuals in Romania that I can't find here in the US or I can't afford here in the US because they're already employed by massive enterprise firms, right? That business model starts changing because now you're using it as an agent of growth. So you want that to be an extension of your HR, your payroll. And so your needs and your drivers start changing, right? You want that managed service, you want that, you know, amazing white glove experience, you want y everything to be starting to integrate with various systems, so on and so forth. So A your buyers change, your your fee structure starting to change, because if you're going and you're getting nickel and dime on every random thing, okay, all of a sudden it gets exponential. But again, it's all about the worker experience. At the end of the day, EORs, PEOs, you know, staffing, you're dealing with a volatile asset which is people. So if the the end user, your worker is not receiving a good experience, well then the client gets upset because there's a direct link. There's no hey, they're gonna reach out and talk to their line manager and tell them the experience if they're not getting paid on time, if their benefits aren't in line with what's statutory, if they don't have the ability to level up because they are more senior. So that's where you're seeing that buyer market adjust because there are
Charlie McGinn: Big companies now using EOR as an agent of growth and whether that is hey I'm gonna use EOR forever or I'm gonna use EOR for the first six to twelve to eighteen months until I understand what this market looks like for me and what type of entity I need then, whether it's a subsidiary or branch, so on and so forth and so.
