How can you improve, adapt, and preserve your expats employees’ work-life balance in the age of hybrid and nomadic international working models by using an EoR service for your company?
What are Employer of Records (EOR) services?
Employer of Record (EOR) services provide businesses with a simple way to comply with employment laws and regulations in different jurisdictions. By outsourcing the management of your employees abroad payroll, benefits, and taxes to an EOR, businesses can avoid the hassle and expense of setting up their own in-house HR department. In addition, EORs can provide valuable guidance on employment law compliance, helping businesses to avoid costly mistakes. As a result, EOR services can be a valuable resource for businesses of all sizes.
How can EoR service improve work-life balance for expatriates’ employees and employers alike?
For expatriates’ employees, work-life balance can be a difficult thing to maintain, especially for expats. With the ever-increasing demands of the modern workplace, it can be all too easy to let their personal life fall by the wayside. However, employer of record services (EoR) can help to alleviate some pressure. By taking on the administrative burden and stress of a set-up abroad and start a new position in a new country, these services allow employees to focus on their work without having to worry about the paperwork. In addition, employer of record services can provide secure solution that allow employees to better manage their time. As a result, these services can have a profound impact on work-life balance. For employers, meanwhile, work-life balance is just as important. A healthy workplace culture is essential for attracting and retaining top talent, and employer of record services can help to create such a culture. By providing employees with the support, they need to succeed, these services can help employers create a positive working environment that benefits both parties. In short, employer of record services can improve work-life balance for both expatriates’ employees and employers alike.
What is work-life balance and how does it affect work quality
Most people have heard the phrase «work-life balance.» It’s a term used to describe the amount of time someone spends working versus the amount of time they spend on activities outside of work. While it’s important to have a healthy balance between work and the rest of your life, that doesn’t always mean that the two are in equal amounts. For some people, work is a priority, and they may not have as much time for other activities. Others may focus more on their personal life and have less time for work.
There’s no right or wrong answer when it comes to how you balance work and the rest of your life. It’s all about finding what works best for you. And while there’s no one-size-fits-all solution, there are definitely some benefits to maintaining a healthy balance between work and the rest of your life. When you have a good work-life balance, you’re less likely to feel burned out from work. In addition, a healthy balance can also help reduce stress levels, both at work and at home.
Achieving a work-life balance is not only good for workers, but also for employers. When workers feel like they have a good balance between their job and the rest of their life, they are less stressed and more productive. Moreover, they are more likely to feel supported by their employer and less likely to experience burnout. Happy employees tend to be more engaged with their work and more motivated to do a good job. As a result, work-life balance can have a positive impact on work quality and this particularly true for employees abroad
What are the main factors of a balanced work-life?
Achieving a healthy work-life balance can be a challenge, but it’s important to remember that it’s not an all-or-nothing proposition. There are a number of factors that contribute to a balanced work-life, and each person’s individually needs will vary.
However, some key components of a healthy work-life balance include adequate sleep, regular exercise, time for leisure and relaxation, and meaningful social interactions. When these needs are met, we are more likely to feel fulfilled in our lives and less likely to experience burnout at work. Of course, achieving a balanced work-life is not always easy, but it’s worth striving for. By making small changes in our daily routines, we can make a big impact on our overall well-being.
How does EoR help to manage the stress of working long hours?
The digital age has brought with it many advantages, but it has also created a culture of constant work. With technology making it easy to stay connected at all hours of the day, it’s no wonder that so many people are finding themselves working long hours. This can lead to stress and burnout, which is why it’s important to have strategies in place to manage the stress of working long hours.
One way to do this is to make use of an Employer of Record. An Employer of Record can help to take on some administrative tasks associated with running an international management department, freeing up your time to focus on the most important things. They can also help to manage payroll and benefits, which can take a lot of stress off your plate. In today’s digital age, an Employer of Record can be an asset in helping you manage the stress of working long hours.
How to increase talent retention and reduce turnover?
One of the most important challenges facing businesses today is how to increase talent retention and reduce turnover. While there are many factors that contribute to employee satisfaction, there are a few key strategies that can have a significant impact.
First, it is important to create a positive work environment where employees feel valued and appreciated. This can be done through things like regular feedback, development opportunities, and flexible work arrangements.
Secondly, it is important to offer competitive compensation and benefits packages.
Third, offer a secure solution and support for employees abroad, which can be done with EoR services
Finally, it is essential to “leave space” and invest in employee development and provide opportunities for growth. By implementing these strategies, businesses can encourage employees to stay with the company for the long term.
Are work-life balance and remote work two sides of the same coin?
According to a recent study by Gallup, more than, 9000 American workers were asked about their opinions on the state of work and how it’s changing. Workers said they want employers to offer remote positions: in detail, the study highlighted the following elements:
Employees hope remote work will not go away: with the recent pandemic, many people are looking for ways to continue working from home. It’s no surprise then that nearly 91% of workers in the US are hoping that their ability to work at home persists.
Hybrid work could be a viable alternative: While many employees are finding success working remotely, there is still room for improvement. Over half (54%) say they would ideally like to split their time between being at home and in the office. A Hybrid Arrangement would allow them to live in both environments while also giving back what was lost when moving away from traditional routines. A little over one-third (37%) would like full-time hours spent remotely.
The change management hitting HR: 9% of people want to return to the office full time. This is because they prefer the in-person interaction and find it more productive. Additionally, they like the feeling of a workplace community.
The major downside of this resistance to the change is for employers, indeed for the Gallup’s study 3/10 are willing to leave their job if their company does not allow remote work
Every day, more and more employees are doing their jobs from home. But not all employers are on board with this trend. Some argue that remote work is unproductive and that they need their employees in the office to be successful. However, this way of thinking is outdated and flawed. With the right tools and communication, working remotely can be just as effective as working in person. In fact, it can even be better.
The main reason for employers to work remotely is that it avoids the stress of commuting and grants more flexibility to balance work and personal obligations while improving wellbeing.
What are the other benefits of using an Employer of Records?
The Employer of Records has a competitive edge when doing business in foreign countries, where the cost and complexity associated with local employment may be prohibitive.
We have already seen how an EoR can help to save time and grant more flexibility to both employers and employees.
In short, EoR saves time in all the main phases of the onboarding of fresh resources: from hiring new employees to processing payroll and legal tasks.
Local Incorporation
Companies can always decide to manage any local incorporation by themselves, for example starting from setting up local entities and passing through registration and incorporation. Of course, this process can be quite long and expensive, nonetheless, it requires experts to support and ensure that everything is done correctly.
An Employer of Records (EoR) might be the best alternative if the company doesn’t want to go through all the expensive and tough processes related to local incorporation. EoR usually leverages on its legal entity which is located in that specific country and can handle all the HR aspects from payroll to filling out employment and immigration requirements. EoR working as an intermediary between the company and the future employee has the knowledge to ease and streamline the requirements while relying on its law and compliance experiences.
Immigration Policies
Only those who have been in the daunting situation of dealing with Immigration policies know how complex it is to follow the strict and constantly changing guidelines issued by governments.
Being immigration compliance is one of the highest risks related to working in a foreign country, many companies decide to trust and partner with an Employer of Records (EoR) to help them.
This is not only a pressure relief for Employers who can immediately eliminate any risk of non-compliance with immigration laws but also free their own hands with any issues relayed to remote payroll, overuse of business visas, and managing multiple entries into the country.
EoR will, indeed, handle all work permits and visa requirements.
With an Employer of Records as a partner, you can rest assured that your employee’s immigration status will never be questioned.
Manage Payroll in a Foreign Country
Many countries have their own set of rules and regulations that need to be followed when payroll is processed. To ensure the correct amount has been recorded for each worker, it’s important you register your business in the country, so the government can track this information properly.
On the other side, the so-called “remote payroll” (payment issued from the home country payroll) is rarely permitted and mostly not allowed for long-term assignments.
When you run payroll for the host country, one of your most important tasks is to calculate and withhold taxes from pay. This includes pensions as well as health insurance plans that workers may have purchased with their own savings or via employer-sponsored programs if they are not covered by an international company’s plan already in place abroad.
The EOR is there to make sure the payroll is accurate and compliant for each employee on assignment.
The EOR solution is an optimum employment path, providing the necessary expertise and compliance to run payroll within your host country.
Employer of Records is a cost-effective way to quickly deploy employees abroad without any issues. This means that it will be more convenient and efficient than hiring locally or remotely, guessing which are the local regulations to comply with.
How to select the right Employer of Records for your needs?
It can be tough to know how to choose the right one for your business.
Here are a few key factors to keep in mind when making your decision:
First, consider the size and scope of your business. If you’re a small business with just a handful of employees, you’ll have different needs than a large corporation with hundreds or even thousands of employees. Make sure the EOR service you choose is a good fit for the size and structure of your business.
Second, think about your specific needs. Do you need help with payroll and taxes? Are you looking for an EOR service that can also provide immigration services support? Make a list of your must-haves, so you can narrow down your options.
Third, compare pricing and features. Once you’ve identified a few potential EOR services, take the time to compare pricing and features. What do they include? What don’t they include? How much do they cost? Keep in mind that you often get what you pay for, so don’t necessarily go with the cheapest option.
Conclusion
So, what can your company do to help employees abroad maintain a healthy work-life balance?
Allow employees to have more control over their schedules.
This will give them the opportunity to plan their work around their personal lives, rather than the other way around. Not only does this improve employee satisfaction and productivity, but it also helps preserve work-life balance for years to come.
