If your company needs to hire global talent or wants the skills of regional employees of a particular country without the hassle of local labour laws or setting up legal entities, enlisting a global employment service is the best option. A global employment organisation acts as a mediator between you and the local employee and pays their salary on your behalf, adhering to their native tax system.
Why do you need an Employer of Records Platform?
If you are a growing organisation aiming to expand your influence overseas but aren’t aware of the intricacies of tax regulation and employment standards in different countries, an EOR service can help in many ways:
- Strategic Hiring and HR planning: There are many risks associated with the misclassification of employees. Ensuring that to hire the right people to fulfil your future business objectives saves a lot of paperwork. EOR services also take care of employment benefits such as health insurance and variable compensation.
- Compliance: Often, operating in a different country requires setting up a business structure, registering it with the local government and complying with legal obligations. All these responsibilities can be easily shifted to an EOR service, which then becomes the formal employer of that foreign country on your behalf. It includes managing payroll and local employment taxes.
- Regulatory Updates and Dispute Regulations: An EOR platform stays informed about the changes in local policies and the tax system, ensuring that the client company remains relevant in an ever-changing regulatory landscape. They also handle employment disputes and contract termination without complications.
Advantages of a Global Employment Service
There are various advantages of hiring a mediator to outsource your work to local employees. Here is a list of the main benefits you obtain by smart division of strategy and expansion:
- Acquiring Global Top Talent: The performance of a company depends on the competence of its system. That system consists of employees with potential. An EOR helps the foreign company to find that talent and retain them even when the employee wants or needs to be relocated.
- Efficient Time and Money Management: Setting up an entity establishment, creating an appropriate HR framework, and familiarising oneself with local labour laws can be both expensive and time-consuming. By hiring an EOR, you can closely work with the local government and meet the requirements to onboard employees without any trouble.
