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As more economies around the world open up and companies bring employees back to the office, global expansion plans that may have been put on hold last year are now taking shape. It can be challenging to know where to start, but here are some key factors to consider when expanding your operations into new countries.
Single Regional Professional Employer Organization vs Independent Local PEO Companies
Benefits of international employment and payroll outsourcing are nothing new to small and large companies today. Businesses of all sizes recognize the value of focusing on business development and revenue-generating activities. Why waste valuable human resources on supportive non-revenue generating tasks when third party Professional Employer Organizations offer fully compliant solutions and allow you to focus on the more important task of running and growing your businesses?
However, when a project requires an employment solution in a range of countries you may find that independent local companies are not enough. Even when they are, it will most likely take you long to find them, agree on the terms as well as prepare the agreements with them. Furthermore, providers in emerging markets vary considerably in expertise and consistency levels, let alone the differences in local labor laws. The latter require a deep knowledge of local rules and regulations.
The best solution is to partner with a one-stop regional PEO company that can help you expand your business or your client’s business globally fast and easy with no employment risks.
Below we compare the benefits of cooperation with a single regional employment solutions provider rather than independent localPEO providers.
Acumen International – a Single Regional Employment/ PEO/ Employer of Record Solutions Provider
Independent Local Peo Companies
1. Immediate coverage in 33 markets/countries
1. Time consuming task of allocating and verifying local providers in each market/country
2. Both a single point of contact and a dedicated account manager for your project for ALL countries
2. Different local providers and account managers
3. One signed contract for solutions in ALL countries
3. Numerous contracts for each country
4. One contract for all in country services (employment, immigration, legal, etc.)
4. Different contracts for each service (employment, immigration, legal, etc.) with different service providers
5. A trusted UK legislation that governs the contract
5. Vague, unfamiliar and dubious legislation that governs numerous contracts in emerging and new markets
6. A single provider bears full responsibility for your project in different countries
6. Responsibility for your project is dispensed among numerous local providers
7. Payments are to be made within the UK or to the UK bank company account
7. International payments made to different countries
8. Fully agreed standard procedures and reporting
8. Different procedures and reporting of different providers
9. Standard payroll breakdowns for ALL countries
9. Different payroll breakdowns for each country (if any, as some local providers just give you the coefficient rather than break all numbers)
10. Upon receipt of your request for any project in any chosen country a payroll breakdown and offer are sent to you within 2 working hours
10. No time standard for breakdown and offer preparation
11. Full 100% fee money-back guarantee for salary delays
11. No money-back guarantees for salary delays
12. Ready-made employment contract drafts
12. Employment drafts are made on ad-hoc basis and need time to be prepared