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EOR and PEO
Stand for employer of record and professional employer organization.
A PEO is a Professional Employer Organization, which is a third party that co-employs individuals with a business. They provide the payroll and other services in a country and ensure compliance requirements are met. While similar to an EOR, a PEO is different in that it is not the legal employer. They act as an employment partner and similar to an outsourced payroll and compliance vendor.
Related Glossaries
On-boarding
Onboarding refers to the process of integrating new employees into an organization.
Health insurance
Allows individuals to receive medical, dental, vision, and other medically-related care.
IBAN
IBAN is an acronym for International Bank Account Number.
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