India is a burgeoning economy that many companies are interested in both from a consumer and a workforce perspective. While India continues to develop, its future holds great possibilities. It is set to be the third-largest consumer market after China and the U.S. It is also among the top six markets for contingent workforce engagement. Tapping into this market before it is fully matured gives your company a foot up compared to your competition.
How HR Outsourcing Services Work in India
HR outsourcing in India makes it easier for companies to tap into tremendous talent while complying with the often-complicated local labor laws. A Professional Employer Organization (PEO) is a top way to leverage Indian talent. Many ask how exactly a PEO works and how it can work for your business.
Essentially, a PEO allows you to hire your employee through a local Indian entity so you can legally hire and pay the employee in India. This employee will be directly managed by you and working on your company’s behalf exactly as if he or she were your employee.
Hiring under the local entity means you don’t have to set up an entity in India, and that you can hire in days rather than weeks or months. Hiring, payroll services, and any other HR needs are taken care of through a PEO such as NNRoad’s HR outsourcing services.
The flexibility of a PEO allows you to retain local talent while the in-country requirements of an employer are fully taken care of.
Why Might You Outsource Your HR in India?
There are different reasons big and small businesses consider outsourcing their HR needs:
- Big Businesses: HR Outsourcing allows you to focus on your core business processes rather than complicated HR needs. This allows you to continue to grow your bottom line while payroll and HR are taken care of.
- Small-to-Medium Sized Businesses: For SMB’s HR outsourcing helps your company grow. HR outsourcing