One of the key strategies of a global expansion is to work with the right partners. Leveraging on their expertise in areas outside your scope and knowledge is an ingenious way to fill in the gaps and grow at the same time.
Human Resources (HR) is an essential department for most companies, across all industries. It is also one of the foundational pillars management teams must look into when a company is expanding internationally and trying to build an overseas presence.
Benefits of working with a Global EOR
Companies can out-source HR services such as hiring, onboarding, payroll and more to professional Global Employer of Record (EOR) service provider. This off-loads time-consuming HR tasks and leans in on EORs’ HR experience in the specific countries.
An EOR helps companies hire internationally and onboard new staff seamlessly. It ensures full compliance with local labour laws and best practices, minimising companies’ liabilities. Skilled in HR capabilities including visa applications, employment contracts, benefits management, recruitment, retention and payroll,
Global EORs work alongside companies to enhance and strengthen internal HR teams with local HR resources and expertise. This allows companies to have more time as well as mind space to focus on maximising work efficiency, generating profit and building market presence.
TG’s 5-Step On-boarding Process
TG has amassed over 100 years of HR experience. With in-country expertise across 50+ markets, TG is a strong Global EOR with a proven track record in solving diverse workforce issues. Our key focus rests on compliance and risk mitigation, important factors for new market entries.
1. Exploration and Engagement
In the scenario where you choose to work with TG, the first step is to determine what you need. Together with TG’s experienced team, exact criteria such as work locations, job requirements, the assignees’ details, salary & benefits package are set in place.
Details required for compliance, national social contribution & tax considerations are also discussed. If you have yet to identify potential candidates, TG’s talent acquisition team will be able to render their services. With these prerequisites in hand, the team will dive into an intensive and extensive search for talented individuals that will fit the bill.
At the same time, TG will work with you to define their scope of engagement in areas such as service coverage, total employment cost calculation, service fee payment schedule and service level agreement.
2. Employment Facilitation
Once the employee has been selected, TG drafts up the employment agreement with all the terms and conditions of employment in compliance to the documentation registration requirements at local Labour Bureau. One of the key terms that can be included is that the assignee must work exclusively for the company in the country of operations. The HR team will then take the time to go through it with the new employee before they sign it in agreement.
3. Administrative On-boarding
TG promises an on-boarding for a new employee in the country of operation in a short span of 5 working days — an exceptionally speedy timeline. As the new employee on-boards to the company, TG covers the paperwork required such as the employment declaration at Tax Bureau and Social Insurance authorities as well as documentation registration at the local Labour Bureau. This then allows the company to have an ease of mind to welcome the new employee to the team and get them settled into their work processes.
4. Monthly Payroll Process
The employees will be relieved to know that TG is well-able to undertake this essential yet repetitive task. TG will calculate regulatory payroll items. Important factors such as service tax, individual income tax and social security scheme declaration will also be looked after in a meticulous and efficient manner. Once the numbers are approved, TG will handle the remittance of payment with payslip.
5. Ongoing HR support
More than just taking on administrative tasks and compliance issues, TG takes on full employer responsibility management. The company has no liabilities and all workforce issues will be managed by TG. This ranges from annual, medical and statutory leave accruals and resource person balances to employment contract renewal and termination.TG is dedicated to be responsive to all global workforce changes, allowing companies to be efficient and move as quickly and nimbly as they wish.
A Global EOR allows companies to build market presence in various countries in a low-risk, low-cost yet highly-efficient way. Do you think expanding companies should partner with global EORs? If you are still unsure or are looking for more answers, reach out to TG at email@example.com for a complimentary consultation today!