Global Employment Solution (GES) is a reliable and legal solution to hire effortlessly across borders without worrying about having a local entity in the region. A GES offers you freedom to manage and oversee the work of a global team, while they handle compliance, legal and payroll requirements.
Managing a business, irrespective of the size, requires proper planning and managing of resources. There will be times when you can’t simply do everything. In such cases, you will require professional support and that is when employment outsourcing services come in.
Why Global Employment Outsourcing Solution?
One of the first considerations when you hire globally, is to check how to set up a representative office in the country. This is followed by hiring and expanding into that market.
However, market expansion shouldn’t be pursued just to hire employees from overseas but rather to actually be present and capitalize on the sales opportunities the new market offers.
Staffing outsourcing services companies help you break all the common misconceptions.
- You can expand globally in any country without setting up a representative office.
- You can hire from a country of your choice and the required talent without an established legal entity.
- You can hire employees in total legal compliance in accordance with your global business operations.
You may need global employment outsourcing solutions if you are looking for the following:
EXPAND YOUR REACH
With a GES such as Multiplier, you can expand into unexplored talent markets in more than 100 countries and focus on boosting your growth without worrying over the other administrative processes.
Global Employment Solutions become an extension of your HR team and streamline your employee onboarding.
INCREASED OPERATING EFFICIENCY
Employee management can take a lot of time and effort when expanding into a new country as you may not be aware of the country’s labour law and can affect your operating efficiency.
When employing a Global Employment Solution, you get to increase your operational efficiency as they help in administering all your talent requirements through skilled and expert local teams in the countries.
This skilled team is not only well-versed with the regulations of businesses but also helps in lessening the paperwork and handling issues such as immigration, local tax compliance, payroll, and expense claim management.
Drastic reductions in the cost of HR activities is possible with a global employment solution. They deploy cost-effective measures to source, onboard, and administer employees across borders with their well-established business operations.
The distribution of employment costs is taken care of in such a way that the quality of employee compensation is never compromised.
ENGAGE EFFECTIVELY IN CORE BUSINESS OPERATIONS
Global Employment Solutions help to manage and track time and expenses, by simplifying the day-to-day activities of global hires, such as attendance – clock in and clock out expense request approval process, and payroll process.
With a GES provider to support your employee management, you can focus on your core business operations and work on increasing productivity and growth for your company.
END TO END PAYROLL SOLUTION
Partnering with Global Employment Solution like Multiplier can offer you the convenience of using a single payroll platform for your global employees. Multiplier also gets rid of the pain of maintaining multiple spreadsheets and replaces them with a single invoice that encompasses payments of globally distributed teams.
GES also rid you of payment hassles like tax, benefits, social contributions like PF in India, CPF in Singapore, thus saving you an incredible amount of time and effort!
What Can You do With Global Employment Outsourcing services?
Have a global presence: Win markets across borders with your unique products and services, while global employment outsourcing services like Multiplier backs you up in hiring foreign talents in more than 170+ countries using their Employer of Record.
Efficacious Onboarding: A company that onboard new hires efficiently and quickly is well received among employees in the longer run. With global employment services, onboarding can be done in minutes without the risk of compliance, contracts, and language.
Unified Payroll: A unified payroll platform through global employment services is a blessing in disguise, particularly when you have employees around the globe. You can now make international payments in local currencies of employees, taking care of their taxes and social contribution.
Localized Contracts: The legally binding document holds a key relationship between the employer and the employee. To generate employee contracts, compliant with local laws and languages can be a painstaking task.
Expert help is required to whip up multilingual and localized contracts, where global employment services come into play. Their agile and efficient methodology ensures that every contract is compliant with the local employment laws and payroll principles in any country you want!
Invoices for Independent Employees: Generating invoices for freelancers and independent contractors can be made easy through global employment services with their one-click global payroll system. This can track the time, expenses, and create single invoices no matter where the contract employee is from.
Tracking Time & Expense: Curating the timesheets and expense sheets of individuals from various time zones is a mundane and meticulous task especially when done through spreadsheets. The global employment services offer a combined portal for tracking time and expense under a single roof and directly link it to invoicing and payment.
Benefits That Global Employment Outsourcing Services can Bring for Your Business
WORKERS WITH AN ENHANCED SKILLSET
A GEO can often tap into talent that might otherwise be unavailable in the country in which you are based. For example, it may be difficult to hire tech workers in your own country, but relatively easy in another country. In this way, recruiting overseas with a GEO is a useful way to up-skill your workforce.
ENHANCED LOCAL KNOWLEDGE TO HELP WITH ACCESS TO NEW MARKETS
A local recruitment team not only understands the legal constraints on hiring staff, they also understand standard job market conditions in that country. For example, it may be that there is no legal requirement for ‘13th or 14th month pay‘, but it is a standard expectation of the local workforce.
The GEO should have a local team that will ensure that all immigration requirements, mandatory insurances, in-country tax registrations, and other key declarations are in place to ensure compliance.
The GEO should set up a compliant payroll system for your business and make proper calculations for individual income tax, insurance payments, social security contributions, and other allowances. It should also manage employee expenses and reimbursements, preferably without charging you extra every time you need to process an expense. A good GEO makes payroll easy; your company should simply receive a monthly statement and invoice without all the additional hassles.
When Global Employment Outsourcing Services are Right for You?
The major reason why companies use Global Employment Outsourcing Services is to steer clear of unnecessary expenses and efforts just for employment in different countries. The higher flexibility with GES brings you peace of mind, because of their expertise in local labor laws, HR support and scalability.
If your organization fits the below-given scenarios, then employing a Global Employment Services Provider is the right course of action.
1. SETTING UP REMOTE TEAMS:
When you are looking to expand to countries where you do not have a physical presence through legal entities but have a higher talent resource pool, who will bring value to your business, then GES can help you in setting up remote teams by hiring them remotely.
2. NEW MARKET ENTRANTS:
As you enter new markets and capture global audiences, you need local talent to back you up. A global employment solution offers you the flexibility and time to industry-specific talents and onboard them effortlessly to your system.
This aids your business to operate efficiently across borders as you set up the necessary entities.
3. HIRE FOREIGN INDEPENDENT CONTRACTORS:
You need a global employment partner to mitigate compliance risk as you hire independent foreign contractors and local employees.
A partner will help you streamline your payroll, compensation and benefits, and improve talent retention in the long run.
4. REMOTE TEACHING:
As digital learning is becoming the new normal, universities want to hire better teachers for every semester from abroad to keep their study syllabus relevant and up to date with the trend.
Onboard remote faculty smoothly and let them work from their home country, complying with local labor laws and pay in their local currency with the help of GES.
5. ACQUISITION & MERGERS:
As you grow and acquire companies along your vertical in other countries, the workforce needs to be brought under your system through training, integration of technology, and market compliance.
As your HR personnel needs time migrating the new workforce to your system, GES can do them in a convenient way by implementing a one point payroll and tax system and standardized tracking methods for time and expense.
How Multiplier Can Support Your Global Employment Strategy?
It can be challenging to set up an entity in foreign countries and hire an employee. Without the hassle of setting up a subsidiary, we can help you onboard your preferred candidate, handle HR issues and payroll, and ensure compliance with local law.
And this at a very minimal cost and time.
We ensure that your employee(s) are onboarded, managed and paid compliantly. We also set up their statutory local benefits enabling them to get their best employee experience while letting you focus on the core business.
Frequently Asked Questions
Q. WHAT SERVICES ARE TYPICALLY INCLUDED IN GLOBAL EMPLOYMENT SOLUTIONS?
Global employment solutions may include services such as employer of record (EOR) or global PEO services, which involve acting as the legal employer for international employees, managing payroll and tax obligations, and handling employment contracts. Additionally, they may offer assistance with work permits, visas, HR consulting, global mobility, and employee benefits administration.
Q. ARE GLOBAL EMPLOYMENT SOLUTIONS SUITABLE FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES)?
Yes, global employment solutions can be beneficial for SMEs as well. These solutions offer SMEs the opportunity to expand their business globally without the need for establishing legal entities in each country. They provide a cost-effective and efficient way to access international talent, manage payroll and compliance, and mitigate the administrative burden associated with global employment.
Q. HOW CAN GLOBAL EMPLOYMENT SOLUTIONS CONTRIBUTE TO INTERNATIONAL GROWTH AND EXPANSION?
Global employment solutions play a crucial role in facilitating international growth and expansion. They enable companies to quickly enter new markets by providing local expertise, ensuring compliance with local laws, and simplifying the process of hiring and managing employees in foreign countries. This allows businesses to seize opportunities in different regions and establish a global presence with reduced risk and administrative complexity.