What is Remote Team Management Software?
A remote team management software enables companies to easily hire, co-ordinate and pay remote team members, without the latter having to take one step into the office. Such as remote workforce management software automates HR functions for you to get the best out of your remote team every day.
Global Remote team management software - What Features to look for?
There are a slew of tools for managing remote teams available on the market. The sheer baffling number is likely to make you become spoilt for choice and induce a fit of analysis paralysis.
So how do you discriminate between the world’s best software to manage remote workers and the ones that shall leave you disappointed?
Make a wise decision by considering these three factors.
One of the most sought-after features in remote team management tools is international payroll management.
Several questions shall arise when hiring remote employees and while figuring out the ways to pay them. You face compliance issues and hit roadblocks with local labor laws. Moreover, paying global employees means you have to disburse salaries in different currencies with 100% accuracy. Studies show that problems in salaries can cause an employee to leave a company in the first 6 months of joining the firm. Besides, vaulting up sensitive data is also important.
However, a global team is worth its weight in gold. The diversity and timeliness such a model brings into your company, improves your company’s reputation. A global team also creates timely and in-touch engagement with your clients.
When choosing your remote workforce software, ensure the tool is fitted with an intuitive, self-serving global payment interface. The interface should conform to local nuances such as language, currency, country-specific benefits and taxes, and payment schedules.
LOCAL TAX LAWS
Subsidiary or not? To expand or not? To go global or not?
These questions arise when you wade through the wide array of paperwork whilst you look to hire or expand into another country.
Particularly, local tax laws are pretty diverse across the world. They are prone to change too. In countries like the USA, tax laws vary according to each state. It is a daunting task for your hiring team to navigate through each of these laws and taxes.
Your remote workforce management software must be able to generate compliant contracts that abide by tax and labor laws.
BENEFITS FOR GLOBAL TEAM AND OTHERS
There are several challenges that plague your HR department while distributing benefits to a global team.
For instance, your HR department should:
- Stay current in a challenging and changing environment
- Help employees understand their benefits
- Fix benefits according to local contexts
Your remote management tool should offer standardized benefits to employees around the world.
A platform like Multiplier helps in offering benefits even to contractors and freelancers.
How Multiplier helps to manage a global remote team
Is global expansion hurting your time and budget? Global expansion requires you to establish local entities in corresponding countries. With Multiplier, you can evade the legal risks associated with establishing your entity.
Multiplier’s SaaS platform helps you navigate local laws with ease, endow locally relevant benefits to employees, and pay global teams in one click. You could also generate records for all employees using one invoice. Multiplier helps you expand across 100+ countries. Using our entities and our legal partners, you can hire employees from other countries, add them to our payroll and HR functions.
Simply put, building global teams and international team management is a breeze when you choose Multiplier.
Remote Team Management Software – Use Cases
Multiplier helps you in 3 different scenarios – hiring contractors, global teams, HR infrastructure.
Hiring contractors – Multiplier specializes in automating the entire process of onboarding and paying a contractor.
Firstly, we help you understand the difference between a full-time employer and a contractor. Secondly, our platform generates locally compliant contracts for your contractors wiping out the obstacles in navigating legal procedures, etc. Finally, we help you offer benefits for your contractors as well, which is usually not the case.
Offering benefits varies with respect to the local labor laws in the country the employee is from.
Global teams – Multiplier helps you build powerful world-class teams. Our EOR solution allows you to hire without a legal entity wiping out any risks of running into compliance and legal issues. In practice, you expand at a record-breaking pace with our international team management software.
Moreover, building a global team would require an understanding of distinct labor laws. Tailoring unique insurance benefits is also a hassle. Our legal partners stay cognizant of ever-changing labor laws 24/7.
Also, Multiplier enables paying employees with a single click. Paying employees across countries causes the hassle of providing accurate compensations in their respective currencies.
Multiplier’s payroll management is touted for its 100% payroll accuracy. With a single click, our SaaS platform disburses salaries for each employee across different countries.
Robust HR infrastructure – Setting up your own entities may take up to one year. The legal obligations, setting up of bank accounts, hiring a local payroll vendor are mountainous challenges. To make matters easy, Multiplier has set up local entities in 15+ countries and has legal partners to aid in the rapid expansion of your company across 100+ countries.