When expanding internationally businesses often have an abundance of hurdles to overcome. To solve most of these challenges, businesses are often told to turn to a PEO for support. But what exactly is a Professional Employer Organisation (PEO) and why should you rely on a PEO partner to support you with global expansion?
What is a Professional Employer Organisation?
Put simply, a Professional Employer Organisation (PEO) provides employee management services including the handling of employment contracts, taxes, benefits, insurances, visa applications and payroll.
A PEO partner will hire employees directly, acting as a co-employer and taking on employee-related responsibilities while you focus on growing your company.
The usual core features of a PEO are as follows.
Legislation that comes with hiring, firing and everything in between requires dedicated staff and resources that growing businesses often don’t have. A PEO can support with human resources by filing paperwork, monitoring employment regulations, recruiting and guiding you when you need to let employees go.
Paying your employees on time and correctly is vital. The more your business grows and the more staff you employ, the more difficult this can become.
A PEO partner ensures your employees are paid accurately and on time with full compliance with both local and international regulations.
Employee perks are a crucial part of attracting and retaining the top talent. Providing company benefits, however, isn’t an easy feat. A Professional Employer Organisation can provide access to and manage a wide range of benefits that give your company a competitive edge.
When do Businesses need a PEO?
More often than not, businesses choose to work with a PEO partner when they are expanding globally. Primarily, this is because working with a PEO means you do not have to establish a legal entity in that country. Secondly, global expansion can be incredibly challenging with countless regulations to come to terms with. A PEO specialist can support you with every aspect of international hiring and expansion, leaving you to focus on what matters to your business.
Whether your global expansion involves employing 1 person international or a whole company, Leap29 can provide tailored PEO solutions to meet your requirements. Click here to find out more on our PEO Services or talk to one of our PEO experts today.