Global expansion with the right PEO
Global expansion is a daunting yet exciting step for any business. Outsourcing this global expansion to a PEO can add to these feelings, with businesses understandably wary of passing over such a key part of their business growth to a third party. To overcome this, it is imperative that businesses choose the correct PEO for their unique needs. Here we discuss what to look for in a PEO.
Low cost
Growing your business can also grow your outgoings with international offices, employee wages and potential relocation costs all causing new, added expense. Therefore, it is understandable that businesses want to streamline costs as much as possible when undertaking their business expansion. Choosing to work with a PEO as opposed to setting up a legal entity is one effective way to reduce costs without compromising on compliance. But, should you look for a low cost PEO? Of course, gathering multiple quotes from different PEO companies ensures that you are getting a competitive price for PEO services. However, it is important to not just opt for the cheapest option. Instead, consider whether a PEO company is offering value for money. For example, are they able to integrate payroll services, employee benefits and employee management software within the fee, or are these additional extras? Often, instructing one company to manage multiple services can be better value for money than having multiple companies covering different bases.
Offering an integrated recruitment and PEO solution
Leap29 offers a cost effective way to expand internationally that also streamlines processes and guarantees compliance across the board.
Countries of operation
Finding a provider that operates in your chosen country of expansion is one of the first things you will look for in a PEO. But, it is also worth checking what other countries your PEO operates in. While you may be just looking at one country to expand your business into at the moment, your future plans may lead you to further international expansion down the line. It would therefore be more logistically beneficial and cost-effective in the longer term to choose a PEO that can facilitate expansion into a whole host of countries, specifically those on your future radar.
A team you can trust
As we have discussed, outsourcing any aspect of your business is a daunting prospect. You therefore want to feel reassured that your PEO is a team you can trust. While automated processes and technology have their place (we’ll come onto that shortly) our PEO service provides the personal touch with a dedicated account manager assigned to every company we work with.
Technology you can rely on
By managing your international hires, a PEO is meant to make your global expansion easier. That being said, global employee management still requires ample resources and time with aspects such as payroll, taxes, expenses and payslips often consuming your internal resources. That’s where employee management software comes in.
Case studies
You know what they say, you’re only as good as your previous customers say you are. When looking for a PEO or an EOR, it’s vital to ask for customer case studies to see what previous companies are saying. Find out up front about the level of service provided, value for money and recommendations from those who know best.
If you’re looking for a PEO provider, then please get in touch with our team. We are happy to answer any questions to help inform your decision and facilitate your global expansion.
