Oyster product overview
Oyster is a distributed HR platform that empowers companies to hire, pay, and care for talented teammates regardless of location. It brings end-to-end employee management to companies in numerous countries. With one automated payroll platform, businesses can pay all their team members on time and in their local currencies.
The solution enables companies to hire qualified people wherever they are in the world. It solves the complexities of giving full-time employment while providing a smooth user experience to employers and employees.
Oyster also guarantees a fully-compliant payroll and gives valued remote hires the benefits and perks they deserve. It facilitates 100% legal employment without the organization having to set up a legal entity in the country where the employee lives.
Pros of Oyster
- It enables organizations to provide local health benefits to employees. Businesses can give extended healthcare options to team members worldwide.
- It ensures that companies gain unrestricted access to talent in more than 180 countries and receive country-specific resources and legal support to meet compliance every time.
Cons of Oyster
- According to users, Oyster’s customer support is slow to respond to their inquiries.
- Some organizations reported errors with invoices generated by the software.
Breakdown of core features
Oyster’s global employment platform works swiftly to hire and onboard new team members and stays with the business for a seamless employee experience moving forward. It simplifies tax, payroll, and benefits requirements with the help of Oyster’s local experts. The software brings guidance and support to manage all hiring needs.
Global businesses can acquire extended healthcare options for their team around the world at a competitive rate. Oyster works directly with health insurance carriers, allowing organizations to access robust plans and coverage typically only available in the large group market. Companies can also use the Oyster Benefits Advisor to learn how to level up their benefits packages.
The platform offers a streamlined solution to pay team members. Businesses can manage payroll, generate reports, and deliver compliant, on-time international payments on one platform. With Oyster, organizations can scale their global team confidently. Companies only need to pay one lump sum to cover their team’s salaries, and Oyster divides it and pays out every employee on time and in the required currency.
Oyster makes sure business agreements with team members align with local labor laws, so the organizations can feel protected when growing an international team. The in-house legal team works with employment and IP law firms to make that happen. Oyster also designed its contracts to reduce liability and protect the company against country-specific risks. Moreover, it delivers IP protection and employment practices liability (EPL) insurance.
(Last updated on 09/02/2022 by Liz Laurente-Ticong)