Get Live Quote Fintech Firm
South Africa
Challenge
A London-based business finance brokerage, Funding Bay, sought to expand its operations but faced the challenges of high costs and risks associated with hiring in the UK financial services sector. South African staff have become a strategic asset for Funding Bay, leading to the establishment of specialised marketing and business development teams in Cape Town.
Solution
Employer of Record SA offered a complete in-country Employer of Record (EOR) solution in South Africa for Funding Bay. We have successfully identified, recruited, and onboarded a full team of highly skilled professionals based in South Africa. Funding Bay has achieved an average cost reduction of 63% on a like-for-like basis, and its team continues to expand rapidly.
Services provided include:
- Recruitment: The financial services industry demands specialised skills. We source and place highly qualified and experienced professionals who align perfectly with your company culture. Our recruits are top-tier talent, all with advanced degrees and years of industry experience.
- Employer of Record: We've established a streamlined onboarding process that complies with both South African and UK employment laws, ensuring a seamless integration of new staff. Our ongoing support includes payroll management, compliance with local employment regulations, and continuous HR assistance, allowing you to focus on core business activities and managing your remote team's work schedule.
- International Support Services: Given your compliance-focused and high-training environment, we provide full-time on-site office space equipped with state-of-the-art IT services, hardware, and stable internet access. We also offer additional HR support to ensure a high level of compliance and support for your on-site staff, especially as your company continues to grow rapidly.
Results
Cost Savings: By hiring remote staff in South Africa, Funding Bay has achieved an average cost reduction of 63% on a like-for-like basis.
Operational Efficiency: The client has tripled their turnover in the two years of working with us and continues to expand their operations at a substantial cost savings.
An equally qualified and experienced South African member of staff will cost around 50% of their equivalent in London.
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