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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
Exit interview
An exit interview is a meeting with an employee who is about to leave, or has recently left.
BIC
BIC stands for Bank Identifier Code.
Compliance
Compliance exists to ensure that banks operate with integrity.
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