It may be the month of love but expanding your business globally can become more of a love-hate relationship.
By using Leap29 as your global PEO and recruitment partner we can support the logistics of your company’s global expansion, leaving you to be the beating heart of your company’s next exciting step. Read on to see how a PEO company can put the spark back in your global expansion.
Setting up a legal entity
In order to operate in most foreign countries, you would need to set up an entity in that country. This process is a huge compliance risk. For starters, most countries have different types of entities depending on your business type and intentions; failure to choose the right one can land you in hot water with governing bodies and can jeopardize your global expansion. Once you have chosen the correct entity type, there is a long, complex set up process, not to mention numerous laws to follow and hoops to jump for as long as your business operates in said country.
However, if you use a PEO, you do not need to establish a foreign subsidiary. This not only ensures your compliance but also makes the process of global expansion considerably more streamlined and easier to navigate. Likewise, if your global expansion is a temporary project, working with a PEO makes it much easier to break off your relationship with your chosen country, whereas an entity makes the breakup more complex.
Global recruitment support
Establishing a strong international workforce is one of the key foundations of a successful global business. However, international recruitment is not without its challenges. Complying with international employment laws is complex and time-consuming, something a recruitment and PEO company such as Leap29 can take from your shoulders. But, the challenges sadly don’t stop there.
Finding the top talent for your business is challenging enough in your home country. Add in cultural differences and your position as a potentially unestablished, foreign company in a competitive market and securing the best talent for the job can seem all the more difficult.
With over 20 years of experience providing recruitment services to businesses across multiple sectors, including Engineering and Construction, Oil & Gas, Pharmaceuticals, Renewable Energy and Technology, we are experts at finding top talent from around the world. Therefore, you can put your faith in us to find your company the perfect match for your new global base.
Retaining global employees
Recruiting a global team is one thing, retaining them is another. As a new team placed in a separate country to your existing office, your global team can feel slightly out of it. Likewise, splitting your loyalties between two geographically different teams can be a challenge. Consequently, employees can feel a disconnect from the company and may terminate their employment prematurely. A PEO can strengthen the relationship between your company and its global workforce and therefore prevent this from happening.
Firstly, a PEO can help you establish a global onboarding strategy that simplifies onboarding international employees, removes the risk of non-compliance and ensures a reliable and successful global base that is welcoming and culturally diverse. From here, a PEO can work with you to secure employee benefits and ensure local employee best practices, such as culturally expected bonuses, are met, both of which help to maintain a happy workforce who will quickly become the beating heart of your global company.
International payroll solutions
We all love payday. But being paid late or incorrectly can really land your company in the doghouse. Using the latest payroll technology, we can ensure that your employees get paid correctly and on time, no matter where in the world they are based. Likewise, we can ensure that all tax, national insurance and associated payroll regulations are met. This way, you can ensure payday is a happy and compliant date for all involved, a factor that also plays into employee retention and a positive working environment.
Compliance is key
You may have noticed a recurring message in this blog: compliance. Whether you are recruiting, onboarding employees or running payroll, international employment laws and business regulations compliance will no doubt dominate your business expansion, as it has in this blog.
Navigating and complying with these international laws can become quite a burden to carry as well as costing your business time, money and valuable resources. Thankfully, a PEO can help with compliance across the board.
From employment contracts to visas, recruitment to payroll, Leap29, as your recruitment and PEO partner, can ensure compliance with employment laws across the world, so you can focus on other aspects of your business expansion. Well versed in laws and regulations in a wide range of countries, and with teams on the ground in seven offices worldwide, you can rest assured that we have the expertise and first-hand experience of complying with global employment and business laws as well as best-practices.
And, once you have a solid relationship with compliance, you’ll find that the rest of your expansion falls into place.
Looking to make the first move on your company’s international expansion journey? Find out more about how our PEO services can support your growth here. Alternatively, contact us to see how Leap29 can be the global recruitment and PEO partner you can trust.
