More companies are looking at global expansion after reaching a specific growth stage.
Is your company planning to scale its operations and enter a foreign market? You can now hire candidates globally while maintaining cost efficiency!
Partnering with an International Professional Employer Organisation (PEO) like TG Group will help your business enter a new market fast while remaining flexible and keeping compliance and operations cost low.
Let us share more about what you can expect from an International PEO partner.
How do you choose the right PEO for your business?
After deciding that acquiring PEO services is the way for your organisation’s expansion plans, you must select an agency matching your requirements. Here are 5 points to take into consideration when narrowing down that selection:
[1] Global Presence
Does the PEO you have in mind cover the locations and regions you plan to hire in? Depending on the PEO’s network and service coverage, the number of countries the PEO operates in may vary.
A PEO with an extensive network would support your current and future expansion requirements and give you peace of mind throughout the partnership. Selecting the right EOR partner is crucial in helping you achieve the targeted growth.
[2] Data Security
How robust are the PEO’s cyber risk mitigation, data privacy and compliance? You do not want to risk a leak of your employee’s information and harm your company’s reputation. Assess whether the PEO has strict standard operating protocols before proceeding further.
[3] Experience and Expertise in Compliance
Does the PEO have extensive experience in compliance management? Have they previously worked with other clients looking to enter the same region?
Compliance regulations are subject to changes; new mandates from various authorities make it difficult to constantly keep track of the regulations when operating in multiple countries. Non-compliance can have expensive and time-consuming consequences for your company.
Your PEO should know how to help with your compliance concerns and be able to support your company by developing processes to fulfil compliance requirements easier, from monitoring changes to better-ensuring compliance with regulations.
You should also request an account manager or HR consultant with the required experience. This ensures a peace of mind that the PEO has the relevant expertise and frees you up to focus on other activities.
Finding a matching PEO can significantly help your company maintain compliance and mitigate risks that come with expansion into a foreign market.
[4] Pricing
How much can you put aside for a PEO partnership? What is the service-level agreement you expect from a PEO? Having a confirmed budget helps you to select a PEO that fulfils your requirements.
[5] Service Coverage
The services each PEO offers may differ. You need to match the capabilities of the PEO to your requirements. Are you looking for payroll platform technology, complete employee lifecycle services, value-added HR consultancy services, etc.?
You should ensure the PEO you choose offers services that perfectly fit your global expansion needs. This is because entering unfamiliar markets without knowing the risks and obligations will significantly affect your company’s success in that country.
Is your organisation contemplating global expansion?
With a proven track record of solving diverse workforce issues, TG Group has the personnel and infrastructure to act as your trusted PEO. Contact us at infosales@tg-hr.com to explore how we can help in your overseas expansion.
Alternatively, WhatsApp us: Malaysia +60175729483 | Singapore +6598276511.
