Is EOR the most economical employment arrangement model?

“ As outsourcing fades, EOR boasts through strategic and cost-effective business solutions for a dynamic economic rise"

In the relentless pursuit of improved operational efficiency and careful cost optimization, the landscape of employment models has significantly changed, while businesses have undergone a major transformation in their approach to workforce management. Businesses, particularly small and medium-sized companies that focused on technological innovation and the fortification of their software, found themselves in a position of increasing opportunities for cost reduction.
This technology adoption prompted innovative organizations to explore increasingly economical business models, from cost-effective to even more budget-conscious alternatives, to meet the demand for a substantial talent pool. Thus commenced a roller coaster journey marked by relentless experimentation with diverse employment frameworks, culminating in the identification and adoption of the most fitting model at any given juncture. 
This blog aims to meticulously dissect and unravel the evolution of employment models through the lens of cost, inspecting the financial implications associated with traditional onsite approaches, contract hiring, outsourcing, contracting, and ultimately the economically astute realm of Employer of Record (EOR) which is the current favorite of all business owners for building teams.