Supporting your Clients Global Expansion Plans
One trend that has developed from the pandemic years is the increased interest to hire workers globally. In this post we look at the challenges businesses face when expanding abroad and how market makers and agencies can help support their client’s global expansion plans.
Hiring globally has many advantages for businesses such as entry to new markets, acquiring new talent and building global teams faster. Advanced technology has made it easier for workers to perform their role from anywhere in the world and be as productive as they would be in the office. We know that the trend of remote and flexible working is here to stay. In fact, it is estimated that 70% of the workforce will be working remotely part-time by 2025.
However, expanding globally can also bring many challenges. Therefore, it is important that businesses understand the complexities when hiring workers in a different country. Below we list the key challenges businesses often face when hiring talent globally and how by partnering with an EOR (Employer of Record) provider we can help agencies support your client’s global expansion needs.
1. Hiring New Talent
We know that hiring international talent can bring many advantages, including advanced language skills and diverse educational backgrounds for a business. Specialised talent can be hard to find so expanding abroad gives businesses access to a pool of potential workers with unique skill sets.
However, hiring global workers requires a new level of HR support and administration. If the agency does not have the capabilities in-house, then they will need to outsource to a EOR provider who has the infrastructure to deploy workers globally.
2. Maintaining Compliance
With the ability to hire workers internationally, organisations of all sizes have more opportunities to grow and expand their business globally. However, staying compliant is vital to a successful global expansion, so it is important to not underestimate the complexities of international labour regulations.
Employment laws are inherently different and vary from country to country. Employing a local worker without knowing the employment laws can be risky and a costly mistake. Therefore, it is important to partner with the right provider who will help workers remain compliant and ensure the correct procedures are in place from day one. Our local legal and compliance experts ensure workers are engaged properly and both you and your clients are protected.
3. Understanding Local Payroll
Tapping into the local talent market brings many benefits. Employing a local worker who knows the market and culture well can help establish your clients’ businesses quicker. However, each country has different rules surrounding taxes, employment benefits and additional worker payments. So, it is important to know the local rules when employing new workers. As an EOR provider, we will provide your workers with the correct payroll and statutory benefits required.
While there are many advantages to hiring talent globally, it is also important to understand that there are complexities when it comes to hiring international labour. Making sure that workers are legally compliant in country from day one can be difficult if you do not have the capabilities inhouse.
By partnering with a global EOR provider such as People2.0, you can deliver total talent management solutions to your clients, anywhere in the world. You provide the talent your clients need, and we do the rest. We amplify your business with new comprehensive capabilities to put anyone to work, in any category, in any location, in any country, for any type of assignment, for any length of time, with any type of currency. And we do it all in total compliance.
If you are spending all your time administering payroll and keeping up to date with employment law, you have less time to focus on selling and recruiting. We will manage your back office, so you can support your client’s expansion.
To find out more about the benefits of engaging with an EOR when supporting your clients global expansion plans, contact a member of our sales team on firstname.lastname@example.org