Leverage on PEOs for your internationalisation
Are you looking to expand your business internationally, but don’t know where to start? You’re not alone. Many businesses feel overwhelmed when it comes the time to take their company global. Luckily, there are a few things you can do to make the process a little easier. One option is to leverage on PEOs for your internationalization efforts. PEOs, or professional employer organizations, can help manage your expansion by providing HR and payroll services tailored to your needs. With the help of a PEO, you can focus on growing your business while leaving the logistics to someone else. If you’re interested in learning more about using PEOs for internationalisation, keep reading! We’ll outline some of the benefits of using this service and how it works.
To be successful, business expansion and internationalisation needs to have the right people in place. This can mean hiring and employing a person or firm that’s based outside of where you operate legally – like when working with suppliers who are located abroad
or contractors from overseas locations who will provide services during periods not exceeding 120 days at any one time (with certain restrictions). With PEOs support for payroll having employees working from any part of the world become easier and possible.
Of course, among others there are many benefits to using a PEO solution, the most important is that it can help you overcome regulatory and financial obstacles when hiring employees in foreign countries. This will ensure your business remains compliant while still allowing growth potential through cross-country recruiting.
PEO support in internationalisation also in other shapes such as sponsor work permits (where the PEO is the employer of record and manages the employee’s contract and payroll), short-term business visa.
Why should you consider PEOs vs Internal HR?
Are you trying to decide whether to handle your internatisation development through your internal HR department or to go with a PEO? Both have their pros and cons, but in the end, PEOs may be a better option Here’s why:
- PEOs have more experience than most internal HR departments.
- PEOs can save you money on benefits costs.
- PEOs offer more compliance support.
- PEOs have a large international networks and experts in each countries
When the support from a PEO is needed
PEO are highly specialized in getting insights from the market, use data and evolve their capabilities as skilled advisors to support clients in their research.
Professional Employment Organizations are strategic partners useful to ease the life of businesses they support.
Usually, companies search for the help of PEO when they need someone to take care of:
Payroll in host countries, employers who have been struggling to find time for payroll or are being penalised because of mistakes, often welcome the relief that comes from hiring an accountancy service from a Professional Employment Organizations. With a PEO, employers can administer aspects on their behalf including calculating wages and deductions while paying employees correctly each month.
Taxes Compliance, businesses will be able to correctly classify employees and file taxes with the appropriate authorities. They will also have a clear understanding of what is required for wage law compliance such as minimum wages or overtime pay!
Immigration procedures, immigration is an inseparable part of being able to send a person to work in another country, whether that person is already on your staff or is a new recruit
How PEO services are shaped for your business
In the international development, there are always new challenges and opportunities on the horizon. You need to be ready to take advantage of every opportunity, and you also need to be prepared for any challenges that come your way. That’s why it’s important to have the right team in place to help you navigate these waters. PEO services can be a great option for businesses of all sizes. In fact, PEO services can be tailored specifically to meet your company needs .
Let’s take a closer look at the 5 steps MobilityHR put in place in order to set up the best tailored solution for their clients:
- Analysis : this step includes the necessity to collect basic information to start working with a client, such as identification of the type of mobility, guidance on legal requirements, optimization of the remuneration package, mobility-related services coordination and suggestions about the appropriate PEO solutions
- Implementation : in this phase what has been analyzed previously starts getting real. The parts involved will sign the agreement, it will be drafted and signed the local employment contracts. If expatriates there will be the set up of the expatriation package, the implementation of the Immigration Procedures and the Relocation Assistance for those who might need support.
- Onboarding : at this stage will take place the collaborators’ registration with the local social and fiscal authorities alongside the activities linked to the monthly payroll management. If expatriates there will be the completion of the processes of immigration.
- Monitoring : this step sees the full reporting packages taking place. The PEO usually makes sure to provide to the client the most up-to-date and comprehensive contract documents. Clients will also have access to advice and guidance about change of law, geopolitical situations, compliance and other subjects. PEO, as MobilityHR for instance, offers a professional customer service 24/7 for emergency management.
- Feedback : last but not least phase is linked to continuous improvement. In order to find ways to improve their offers, there’s a final step about the improvement of the customer experience, the customer solutions and the efficiency of the processes
Conclusions
If you are thinking about going global with your business, a PEO can help make the process smoother. We’ve outlined some of the benefits of partnering with a PEO in this article, but there are many more that we could mention.
Contact us to learn more about our services and how we can help take your business international. With over 500 experts in more than 150 countries around the world and many years of experience helping businesses just like yours expand into new markets, we know what it takes to make the transition as smooth as possible for everyone involved. Ready to get started?
