Core Insights - The article discusses the challenges faced by Chinese companies in hiring local employees when expanding overseas and presents Employer of Record (EOR) services as a solution to these challenges [1] Group 1: EOR Service Providers - Safeguard Global is a leading EOR service provider with over 17 years of experience, covering 187 countries and regions, and employing over 400 local HR experts [2] - Deel, founded in 2019, has rapidly grown to become an industry benchmark, supporting over 150 countries and 120 currencies, with an impressive ARR growth from $1 million to $100 million in just 20 months [5] - Remote focuses on distributed team management and has raised multiple funding rounds, achieving a valuation close to $3 billion, with services covering over 60 countries and plans to expand to 140 [5] - Oyster HR targets small and medium-sized enterprises, offering a flexible pricing model and automated compliance processes, with revenue growth exceeding 20 times in 2021 [6] - Multiplier, established in 2020, emphasizes technology-driven solutions for global hiring, having served over 100 countries and raised $60 million in Series B funding [6] Group 2: EOR Service Benefits - EOR services allow companies to hire and manage overseas employees without establishing a local entity, handling compliance tasks such as labor contracts, social security contributions, and tax declarations [7] - Key factors for companies to consider when selecting an EOR provider include local presence and operational history, scale and experience, technology platform compatibility, and industry reputation [7]