Episode 67 - Navigating the Complexities of EOR in The Recruitment Industry with Francis Larson

Episode 67 - Navigating the Complexities of EOR in The Recruitment Industry with Francis Larson

In this episode, I sit down with Francis Larson, the visionary CEO and founder of Ascen, as we navigate Employer of Record (EOR) services in the recruitment industry. Francis sheds some light on how EORs are transforming the staffing industry, taking full charge of employment responsibilities from HR compliance to benefits management. He clarifies the distinctions between EORs and the traditional Professional Employer Organization (PEO) model, busting myths around revenue recognition and highlighting the immense value of seeking accounting expertise, avoiding placing so much value on vanity numbers in your business, especially in acquisition scenarios where EBITDA is critical. With the EOR model handling back-office complexities, businesses can focus on delivering exceptional client service and growth without getting stifled by regulatory hurdles.

Finally, our conversation heads into the realm of international employment regulations, where British and Canadian companies face unique challenges entering the US market. We explore the intricacies of independent contractor classification in the US, where state-driven enforcement adds layers of complexity. We also touch on workforce management trends, particularly the transformative impact of AI in recruitment. 

Key Moments:

• Busting EOR myths around top line revenue.

• Some of the biggest mistakes being made in the staffing industry.

• Going in to the US market is risky - how does EOR support this move?

• How companies can prepare for new workforce management regulations.

Favorite Quote: 

"EORs are transforming the staffing industry by taking full charge of employment responsibilities, from HR compliance to benefits management, allowing businesses to focus on growth and client service."

• Francis

 

Connect with Francis:

Francis Larson is the founder and CEO of Ascen, a back office platform and employer of record for staffing firms expanding into the US, providing payroll, onboarding, and funding for US placements. Ascen is funded by Y Combinator, the top seed investor in startups in the world. Before founding Ascen, Francis was the founder and CEO of Leif, a fintech lending platform he sold in 2018. 

 

LinkedIn: https://www.linkedin.com/in/francislarson/

 

Connect with Suky:

I’m Suky an adrenaline junkie who celebrates every single win. I believe we must celebrate and collect all our wins along the way as it fuels forward momentum to ensure we exceed our goals. When we fuel forward momentum, complacency simply can not settle in.

With over 25 years of experience working in the staffing industry, 16 of those working with global recruitment companies, I bring the knowledge and experience of working in 18 countries and successfully navigating through numerous “recession” cycles.

Companies often get so focused on the bottom line that they forget that we are in the “people business”. For me, the magic happens when my clients recognize the best way to create a truly sustainable high-performance sales culture is to align both.

 

LinkedIn