Expanding your business in a foreign country is a milestone resulting from your hard work and dedication. This ensures that you have proven your initial concept and you have reached your target in the local market. Establishing your brand in your home base is an achievement already, but of course, you can still go further and expand it overseas. In order to attain this, you would need the help of services, such as global employment solutions.
Business expansion will be tough work. Although it can mean bigger revenues and market reach for your business, there are possible risks that you can encounter in this new venture. For one, you cannot catch a flight to the new branch of your business all the time to oversee the job management of your employees.
But through global employment solutions, you can cope with a lot of growing pains that come with business expansion. They will address your concerns in your workforce without you having to leave the comfort of your headquarters. Sure, you are the boss but you cannot supervise several locations, manage your employees remotely, and check inventory for your branches all at the same time! This is where employee leasing comes in.
Employee leasing or global employment solutions has become a particularly popular program for small and mid-sized companies. This is done through a Professional Employer Organization. However, you must ensure that you ask for the services of a well-administered employee leasing firm.
If you are still skeptical of this program, you can ask other companies for the number of advantages they have received from it but that would be too much of a hassle, right? Good thing you stumbled upon this article because all of the information you need is listed below.
An Overview of Global Employment Solutions
Opening in a new market needs a thorough evaluation and you have to know what makes your target countries tick. There are lessons you will learn in growing your business. Using global employment solutions will equip you with a team to develop the workforce for you even without your presence. They can take care of administrative works such as employment, payroll, HR outsourcing services, and even accounting duties.
This way, you will provide more for your business because you just have to deal with market research or dealing with your clients.
Minimize your risks. The platform will monitor and filter most of the risks when you go through their program. This will simplify your management and may lead you to new markets which will further expand your opportunities in the international business arena.
Employee leasing will provide solutions for your professional needs in your chosen area of expansion. You need to find a global employment solutions firm that will select and engage professional service in your target countries or regions that will help you perform administrative tasks in employment.
Starting from basic human resource tasks like sourcing out for new employees, it can even help you on the onboarding process of the said employee up until the benefits that your company will give them on their tenure. The key to properly administer your employees are also covered by employee leasing which includes the previously stated onboarding process of the leased employee, payroll and taxation, statutory benefits handling, timekeeping management, and invoicing. This is done through a process that you will go through with your chosen firm and this is as follows:
You will arrange a meeting with the global employment solutions firm either face to face if you are in the same country as them or over the phone. With this, there will be an evaluation of your business needs. You also have to be specific about your long-term goals and plans so that the firm will have an idea of who you are as an employer and a businessman. This evaluation is also helpful in foreshadowing the kind of solution which will fulfill your needs. Not to mention, it is a great opportunity to kickstart your relationship with the global employment solutions which is vital if you want to achieve consistent results.
- Sharing Quotation
After a thorough evaluation of your requirement, the team will prepare a proposal for their service that best suits your need. You will be able to learn how you will achieve results for your requirement and how they will help you. This is also helpful in you and your firm’s arrangement in cost and overall implementation of the program.
- Master Agreement Signing
After you accept the proposal, the team will prepare a framework of the master service agreement which will lead to the signing process. Agreeing to the terms will set you up to avail of their services and the transaction of employee leasing is well underway. This will validate the results based on the information prior to signing a contract.
- Documents Collection
The team will now prepare relevant documents for an employee, which will change from country to country. This is the first step in finding the right employee for your company.
- Employment Contract This will lead to the onboarding of the employee. The firm will prepare the employment contract for an employee which will lead to the signing process.
- Implementation and Follow-ups
The implementing process will start with the employee getting on board and being part of the payroll. It also entails the inclusion of the employee in the benefits that are offered from country to country. Take note that statutory benefits vary from each country. Following up on the implementation, the team will do alignments with regard to the employee management process.
With this process, you also have to take into a