As an entrepreneur, your actions should always target growth objectives and a profitability increase. In some situation, for your business niche or activities, a foreign country might present you with better opportunities, so setting up a branch in another location, or simply accessing foreign markets might have become one of your current goals. Upon research, you will quickly realize the large number of responsibilities this international expansion comes with. While each detail that revolves around this big decision has its own importance and relevance, one of the actions that need most of your attention is the employment of staff. If something business owners and company executives can all agree on is that the success of a brand depends on the people working for it. Your future employees can either help you make out of your international affairs, or on the contrary, prevent you from reaching your professional desires. This is why you should ensure the processes revolving around workforce hire are optimized perfectly, and because this is all happening in an unfamiliar country and industry, getting some insights on the topic will be necessary. The following info will help you get ahead in this department:
Assess your needs
Start with the basics and that is establishing exactly what your company needs. Knowing how your future team should look like is a crucial aspect for actually reaching the desired outcomes in the overall international expansion process. Take enough time to determine what departments would need most members, how many employees do you really need to cover the specifics of your core business functions. A thorough assessment of your business needs is the only way you can make good, beneficial choices. Perhaps more sales people will be required for the proper running of your international business duties, or more administrative positions should be open for vacancy. Maybe part-time job offers are more convenient for your particular situation, or just the recruitment of a few employees is needed until your business actually takes off abroad or even opens a physical office there. Regardless of profile and goals, your needs should be sorted out perfectly from the start.
Get familiar with local employment laws and regulations
Before you actually get into the entire recruiting process, and making any further choices, it’s essential to research the topic properly and get familiar with the rights and obligations of the average employee in that said country. Considering each location has its own set of regulations the matter, documenting yourself on the subject properly is a must before you expand business abroad. Luckily, nowadays, the internet is filled with usual resources, so accessing accurate and detailed information will not be at all complicated. However, to simplify things in this department, and avoid the hassle of navigating yourself through employment laws and rules, you may want to select the right employee hiring solution.
Analyze employment solutions available
Once you have some basic knowledge on the country and the details revolving around employee recruitment there, you should start analyzing your available employment solutions. When it comes to recruitment, you might think that establishing a permanent or long term HR department is the way to go, this perhaps being the way you have done things when first developing your company. However, because this is not your usual company registration or opening, and you may be interesting in reaching international markets even without actually having an office opened there, you may need to look for an alternative that offers more than your traditional recruitment processes. Nowadays, when you are expanding abroad, you can reach new markets by relying on an outsourcing company that can hire employees on your behalf in the said country. This option has become preferred for the majority of companies wishing to reach international grounds. PEO solutions should be the option you look into first, and after understanding the benefits of this type of recruitment, you may be able to conclude its appeal.
Benefits of PEO/GEO solutions
Professional and global employment organization solutions, as mentioned above, have become the go-to choice of companies interested in international expansion without having a legal representative or a physical company headquarters. This type of employee-hiring model, based on outsourced principles, is chosen with regularity by firms looking for talent rapidly and effectively in a foreign market. There are some clear, undeniable advantages that make a global employer of record an ideal partner in the effective creation of a team without, and these usually are:
- You don’t need to set up a company
Expand into the market of your choice easily and conveniently with PEO solutions at your disposal. You can reach the international growth desired without being required to pursue an actual company setup. An organization of this sort will target the said country and market for you, and stand at your disposal with dispatched employees for you future business needs. GEO solutions can be customized to suit your specific needs, and one great characteristic you will benefit from is compliance.
- Efficient talent assessment and rapidity
Because an outsourced company already knows the local market as well as the pole of job seekers it will be easier for them to find great candidates for your available vacancies that suit your business concept. They have all the resources necessary to handle the talent and competence assessment of candidates and to get excellent employees working for you abroad in an optimal period of time.
- Time efficiency and legal protection
With no legal entity available there, your company will deal with quite a lot of issues in understanding the local employment laws, business functioning regulations and other similar details. A company that acts as an employer of record will cover all legal requirements on your behalf, allowing you to prevent wasting time with employment and focus on other responsibilities instead.
- Employer statutory benefits administration
- Business expenses management
International markets and a potential expansion might be things that excite you at the moment. Perhaps the industry in another country is more promising, and you will manage to even double your yearly profitability. Regardless of the main motive that has determined you to give this particular option a go, you are probably well aware of the importance of having great employees to support and grow your brand abroad. Because employment solutions for an international business expansion need to be chosen with far more care, using the tips above mentioned to your advantage is recommended. Remember that with the help of a global employer of record, things will be much simplified for you, so take the right steps in this direction.