Most businesses want to expand globally but it can not only be cost-prohibitive but also administratively challenging. If you are looking to expand your business globally, you will have to navigate complex labor laws and spend time and money to find the right talent. This can often prevent start-ups and SMEs from scaling their operations internationally.
Thankfully, you do not have to worry as you can collaborate with an Employer of Record (EOR). This is a third-party local organization that works as an intermediary between your organization and the local talent. The EOR is responsible for hiring the right talent, maintaining the payroll, and ensuring that no local laws and regulations are infringed. At the same time, the EOR will not be an active participant in the day-to-day activities of the local employees or your business. That will be solely your organization’s responsibility.
Why Your Organization Should Use an EOR Company
If your business is located in another part of the world and you want to expand internationally in a different country, you will not know the local laws and regulations in that country. Also, it can be very expensive to open a subsidiary or branch internationally. Under such circumstances, it makes sense to partner with a firm like Eos, a leading employer of record provider.
Such a company will provide you the necessary HR service that you require in a foreign country without your organization opening a legal entity in that country. While your organization will make all decisions related to compensation, job roles, projects, and termination, the EOR will be responsible for onboarding new employees, managing them, and paying the employees on behalf of your company.
When a company provides quality and compliant employer of record services, you will have peace of mind as your business will always be compliant with the local laws without even having a physical presence in the country. Just make sure that you provide the right information to the EOR company about the employees you want to hire, the country, and the remuneration that the employees will receive. Once this is done, the EOR will handle all the paperwork and onboard employees. This saves your organization time and money and you can utilize that for growing your business.
The Bottom Line
If your company partners with a highly skilled and compliant GEO Employer of Record such as Eos, you can rest assured that local talent acquisition will never pose a hindrance to your global expansion strategy. This can be a boon in times like the recent lockdowns due to the pandemic, as your business will not suffer and the local talent will continue to work as required by your organization.
