Deel vs Oyster: Which EOR is Right for Your Business?

The current global marketplace dynamics have pushed businesses to look into creative approaches for recruiting and hiring foreign employees. 

Employer of Record (EOR) solutions have changed the scenario by providing payroll, HR, and compliance support, hence reducing the complexity of international hiring.

Deel and Oyster, two well-known players in the EOR space, have gained much recognition, each providing distinct features and advantages. 

However, choosing the right EOR for your business requires a comprehensive understanding of their offerings and seeing how they align with your needs.

To make it easy for you here, we'll delve into a comparative analysis of Deel and Oyster, providing insights into their key features, pros, cons and pricing.

Deel vs. Oyster 

Overview

1. Deel

With an emphasis on streamlining the entire global employment process, Deel presents a comprehensive platform that simplifies the hiring and management of remote talent across borders. 

Founded in 2019, they have served 15,000+ customers till now. It is a good option for companies hiring and managing international employees, contractors, or freelancers without opening legal entities. 

The platform offers HR management, payroll in 100+ countries, employee engagement tools, API and integration options. 

Here are some of the key offerings:

• With the self-serve platform, any foreign worker can be onboarded in minutes. Customizations are available for each contract type.
• It simplifies payroll processing through its consolidated single platform. Their in-house payroll experts help navigate the local payroll settings. 
• The platform makes creating and modifying employment contracts suited to particular roles and nations easier. This involves selecting the currencies, payment terms, and compliance information.
• The platform strongly emphasizes fee, pricing, and procedure transparency. To protect sensitive data, it also ensures data security and adherence to industry standards.

2. Oyster

Oyster is a global recruitment platform that provides services to assist organizations in hiring and managing staff across countries. Since its founding in 2019, the business has grown to operate in more than 180 countries.

Serving as an intermediary and employer of record, they take care of the hired workers' legal, tax, and HR needs while ensuring compliance. It offers global employment, payroll, rewards, compliance, and a guided hiring process.

Here are some of the key offerings:

• Hiring flow identifies country-specific statutory obligations for new employees to ensure that employment practices comply with local legislation.
• It provides HR-related support in multiple countries, including help with employee relations, benefits administration, contracts, and other HR-related tasks.
• It offers a single platform that handles payroll, produces reports, and makes timely foreign payments.

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Pricing 

1. Deel

Three price tiers for Deel range from $49 to $599 per month. There's also a  free trial available. Below are the three pricing models with its offerings:

• EOR - Starting at $599/month. 

It includes hiring international employees, local payroll, competitive benefits, taxes and 20+ integrations for HR and finance. 

• Contractors - Starting at $49/month.

It includes invoice automation, expenses, time off and bulk payment with 10+ flexible methods in 150 currencies. 

• Deel HR - free for teams of up to 200 people

It includes expense management, time off, org charts, and workflow automation.

Apart from these 3 plans, they offer global payroll and immigration plans for which the tailored quote is provided upon request. 

2. Oyster

Three price tiers for oyster range from $29 per contractor/month to  $499 per employee/month billed annually. The three pricing models with its offerings:

• Contractor - starts $0 for the first month to $29 per contractor/month.

It includes compliant agreements, onboarding, invoice processing, allowances, time-off, and reports.

• Employee - Starts at $499 per employee/month (billed annually) and $599 per employee/month (billed monthly)

It includes global payroll, expense management, allowances, bonuses, automation and insights.

• Scale - Custom pricing, available on request. It is for a seat-based, annual subscription to hire 5+ teams.

         It includes bulk hiring and onboarding, dedicated customer success and account managers. 

Pros 

1. Deel

• It efficiently manages complex payroll procedures, considering different payment plans, tax obligations, and deductions.
• Smooth integration with Slack and other similar platforms makes it convenient to get notifications.
• Funds release, payments, invoice processing and automation are fast.
• The app's user-friendly interface simplifies the process, even for first-time users.

2. Oyster

• Responsive customer support
• Starting from the onboarding process to the payroll process, the processes are streamlined.
• The Contractor vs. Full-Time Employee Analyzer tool assists companies in making informed decisions regarding whether to hire contractors or full-time employees.
• The contractor plan offered by Oyster tends to be more cost-effective when compared to Deel’s plan.

Cons 

1. Deel

• Lack of customer support - Customer service at Deel is criticized for being unreliable, slow, and lacking in information. This lack of availability could disadvantage users seeking all-inclusive help managing their tax responsibilities.
• Payment transfer issues -  Transferring payments to your bank account could take up to 1 business day or longer, depending on the timing of the transfer initiation.

• Lack of report customization - Deel's report section proved to be inconvenient and cumbersome, resulting in a time-consuming process to extract specific data

2. Oyster

• Absences of entities - A downside of Oyster is its absence of entities in every country of operation. It also occasionally causes delays in addressing employee inquiries or issues, resulting in friction and longer turnaround times.
• Benefits feature missing - Lacks many local features crucial for various regions. This includes the absence of automatically incorporating local holidays and crucial local benefits like pensions in certain countries.
• Slow request processing -  Some local providers tend to have slow request processing times. Also, the clarity of invoicing is lacking, as detailed information is not consistently provided in the balance invoices.

Gloroots - A Comprehensive Option Beyond Deel & Oyster

After thoroughly analyzing Deel vs Oyster, we have a better alternative you can consider. 

Gloroots is a comprehensive solution that surpasses all offerings compared to Oyster and Deel. 

Gloroots offers extensive services and can handle a broader range of requirements related to international employment, contractor management, compliance, and HR management.

Below are the key features and a few case studies that will help you understand why Gloroots is a better alternative when compared with Deel and Oyster.

Key Features:

EOR 

• Get faster onboarding with contract automation and compliant employee offboarding. 
• Get a centralized and efficient perspective of the process of your workers in several countries through a single dashboard.  
• Offer customized employee benefits when building a global workforce

Payroll

• Gloroots is an all-inclusive platform for easily managing, paying, and organizing distributed foreign employees. 
• Simplifies cross-border payments with multi-currency support and facilitates payroll management with a single-click process.
• Customizes bonus frequencies and variable payouts as per the unique requirements of your business.
• Handle crypto pay-ins and pay-outs efficiently, streamlining every payment cycle.

Benefits Control 

• Includes a strong benefits administration function that simplifies the enrollment and compliance processes in every aspect.
• Helps employers to draw in and keep top talent by providing benefits tailored to each employee's needs and insurance coverage specific to their country.

Compliance 

• Ensure compliance with ease by leveraging Gloroots' expertise.
• Enables efficient handling of contractor documentation and the complicated network of local rules in each nation without conducting a thorough compliance investigation.

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Pricing

Compared to Oyster and Deel, Gloroots provides a cost-effective solution.

1. Pay Contractors- Starting from $29 /contactor/month

It includes contractor management, compliance documents collection, automated invoicing, perks and benefits, time off and expenses, and crypto pay-ins.

2. Hire Employees- Starting from $299 /employee/month

It includes EOR, local payroll, benefits, taxes, and compliance, 24*7 support, fully protected ip and invention rights, taxes and deductions, compliance documents collection, leaves, expenses and bonuses, crypto pay-ins.

Conclusion 

Gloroots stands out for its flexible and data-driven methodology.  It fills the voids that platforms like Deel and Remote might overlook with:

• Streamlined multi-country payroll management, 
• Personalized compensation and benefits according to local standards, 
• Efficient contractor management, 
• Round-the-clock proactive customer support, and 
• Unparalleled expertise in ensuring compliance with diverse regulations 

If you're on the lookout for a better alternative to Deel and Oyster, get in touch today!