Form3 is a payments technology company whose goal is to make payments easier and quicker through the cloud. They work with major fintech and banks processing immense volumes of payments.
Form3 was founded to be intentionally international and foster a company culture
that embraces all nationalities.
Turning contractors into permanent employees
Being a remote-first team has been Form3’s model and strength since their founding. Initially, they mostly hired contractors from around the world and employees in six countries they could hire directly.
Later on, Form3 decided to hire some of those contractors as employees for job security, paid time off, maternity leave, and to be subject to all of their policies. But there was an issue: the contractors were located in countries where Form3 didn’t have an entity.
They knew it was almost impossible to set up 10 or 15 business entities, especially in locations with less than six workers. So, they started looking for a solution to support them in hiring the most qualified talent as permanent employees, regardless of their location.
Getting visa support from Deel
Despite the number of EOR options on the market, Form3 went with Deel due to their vendor assurance processes like:
1- Support in every location where they had an existing headcount and in locations they plan to hire in the future.
2- Immigration sponsorship to their colleagues in locations where the company is currently unable to, and provide location-specific perks (such as 30% tax relief to eligible colleagues in The Netherlands).
3- Outstanding experience delivered by their awesome Account Manager. They communicate asynchronously via Slack at a speed where employee experience doesn’t suffer.
“Working with Deel has been an invaluable part of our expansion journey,” says Leanne Schofield, Head of People at Form3.
Continued immigration and visa support is helpful for accessing a bigger talent pool. For example, a worker wanted to stay in a country where they had a working visa but it needed to be swapped over from one employer to another. So Form3 used Deel’s visa support to solve that. “Deel gives us the peace of mind of knowing that in these visa situations, the employee will get the support they need,” says Schofield.
Another case was when a key position candidate working in the Netherlands could no longer legally work there due to an expiring visa. Thanks to Deel’s visa support, Form3 ensured the worker’s visa was up to date, and he could legally work in the Netherlands. “He was a really, really important hire for us. If we had lost him at that point in the process… Losing out on a candidate or offer stage because we can't support their visa or immigration needs feels really tough. So that was a really good one for us to get over the line because he’s joined and is great,” says Schofield.
Why Form3 loves Deel
Form3’s partnership with Deel has been very successful for their team. The thing they appreciate the most about Deel is the customer experience and having a supportive Customer Success Manager. “I love the fact that we can communicate with him through Slack; that makes things 50 times easier and faster, particularly queries that are related to candidates who are sitting on maybe two or three offers and need a response quite quickly,” says Schofield.
The other thing that Form3 appreciates about Deel is the easy navigation, and integration with multiple HR platforms to reduce manual work.
Results and looking forward
Deel enabled Form3 to employ 20% of their workforce in just a year. Thanks to Deel, they can offer their candidates different options, so they don’t have to persuade candidates from various locations to be contractors. Plus, they lowered their attrition rate.
“Deel enabled us to hire 100 people that we probably wouldn't have been able to hire otherwise,” says Schofield. “Plus, it helped us reduce the number of workers leaving us. A lot of contractors were leaving when we couldn’t support them in being employees,”
Deel also helps Form3 save time on admin. They hired someone to manage the platform and EOR employees around the world, but, they needed to change her responsibilities because Deel runs so smoothly. In fact, she didn’t need more than one day of the week to take care of everything with Deel.
In the future, they expect to continue growing with Deel by hiring larger volumes of employees in even more locations.