Nearly all countries around the world have been affected by Covid-19, and while some countries are recovering quickly, like Germany, Austria, France, and Switzerland, who are expected to open their borders by mid-June, the global economy may take even longer to stabilize. What does that mean for businesses expanding globally? Keep reading to see how hiring employees internationally in a post-Covid world looks like.
Hiring Employees Post-Covid
Remote hiring is the new normal in a post-pandemic world. In order to prioritize the integrity and safety of employees and employers, hiring employees both domestically and internationally means leaning into virtual interviews. New challenges present new opportunities, there are still HR agencies that are looking to hire top talent around the world.
Payroll services will be needed for essential businesses that are still in operation in order to pay their employees. Businesses are refreshing their job postings to be relevant to the circumstances and recruiting, interviewing, onboarding, and working remotely.
PEOs as an Invaluable Expansion Strategy
Businesses are unable to predict how lucrative a market is once they begin operations. Entity setup requires businesses to be stationary in a market for long periods of time. This leaves the possibility of paying expensive tear-down costs and lengthy dissolution times. International Professional Employer Organizations (PEOs) can mend both of these issues without the need for an entity. An International PEO becomes an organization’s Employer of Record, hiring employees on that firm’s behalf. Businesses can enter and exit markets at their own pace without worrying about tear-down costs and processes.
Global Markets Safe for Expansion
The following countries that are opening up their borders may be ideal places to expand your business in:
Global Business Impact Post-Covid
Many businesses are adapting and finding ways to cater to people’s needs. Retailers and sales companies have pushed online shopping and e-commerce as a way to make quarterly sales goals. Tech companies like Apple have pivoted from manufacturing computers and devices and started creating face masks. Webinars and virtual meetings via Zoom have skyrocketed in order to keep productivity moving for businesses that are fortunate enough to still be in operation.
Businesses must plan now for what their international presence looks like in Q3/4 of 2020, 2021, and beyond. But wherever businesses choose to expand, flexibility is central to risk mitigation and successful expansion. With global PEO services, NNRoad provides the flexibility you need. NNRoad is open for operation to guide your firm’s global expansion through our international employment solutions, entity set-up, payroll and benefits, and tax and accounting services. We are in this together, contact us today.
If you are interested in learning more about the top markets recovering after Covid-19 check out our white paper on Going Global Post-Covid.