Global expansion is a daunting yet exciting step for any business. Outsourcing this global expansion to a PEO can add to these feelings, with businesses understandably wary of passing over such a key part of their business growth to a third party.
To overcome this, it is imperative that businesses choose the correct PEO for their unique needs. Here we discuss what to look for in a PEO.
Growing your business can also grow your outgoings with international offices, employee wages and potential relocation costs all causing new, added expense. Therefore, it is understandable that businesses want to streamline costs as much as possible when undertaking their business expansion. Choosing to work with a PEO as opposed to setting up a legal entity is one effective way to reduce costs without compromising on compliance. But, should you look for a low cost PEO?
Of course, gathering multiple quotes from different PEO companies ensures that you are getting a competitive price for PEO services. However, it is important to not just opt for the cheapest option. Instead, consider whether a PEO company is offering value for money. For example, are they able to integrate payroll services, employee benefits and employee management software within the fee, or are these additional extras? Often, instructing one company to manage multiple services can be better value for money than having multiple companies covering different bases.
Offering an integrated recruitment and PEO solution Leap29 offers a cost effective way to expand internationally that also streamlines processes and guarantees compliance across the board.
Countries of operation
Finding a provider that operates in your chosen country of expansion is one of the first things you will look for in a PEO. But, it is also worth checking what other countries your PEO operates in.
While you may be just looking at one country to expand your business into at the moment, your future plans may lead you to further international expansion down the line. It would therefore be more logistically beneficial and cost-effective in the longer term to choose a PEO that can facilitate expansion into a whole host of countries, specifically those on your future radar. This way you can avoid changing PEO provider and future proof your global expansion.
At Leap29, we have seven offices including the UK, Netherlands and India, with PEO experts based across the globe meaning we can facilitate your expansion into business hotspots around the world.
A team you can trust
As we have discussed, outsourcing any aspect of your business is a daunting prospect. You therefore want to feel reassured that your PEO is a team you can trust.
While automated processes and technology have their place (we’ll come onto that shortly) our PEO service provides the personal touch with a dedicated account manager assigned to every company we work with. That means that any questions or concerns you may have can be directly addressed and dealt with by an expert who is well versed in current employment laws and legislation. No waiting on hold, no automated chats, just direct, personal communication.
Think of our PEO team as an extension of your internal team, ready and waiting to make your global expansion that bit easier!
Technology you can rely on
By managing your international hires, a PEO is meant to make your global expansion easier. That being said, global employee management still requires ample resources and time with aspects such as payroll, taxes, expenses and payslips often consuming your internal resources.
That’s where employee management software comes in. Employee management software, sometimes known as human resources management software (HRMS), helps employers manage payroll, taxes, expenses, payslips and more all in one easy to use online portal. Such software can come with a hefty price tag, meaning it is often an expense that businesses, especially small businesses or start ups, can struggle to afford.
However, with our PEO services we include employee management software as standard, helping you attract and retain great talent and take the pain out of payroll management. As we discussed when considering the cost of a PEO, it is worth looking at what additional software and integrated services a PEO can provide to ensure you are getting the best possible service for your business.
You can find out more about our employee management software here.
You know what they say, you’re only as good as your previous customers say you are. When looking for a PEO or an EOR, it’s vital to ask for customer case studies to see what previous companies are saying.
Find out up front about the level of service provided, value for money and recommendations from those who know best. At Leap29 we have a range of case studies from previous customers and are happy to share these with any potential new clients to help them match up with the best PEO for them.
If you’re looking for a PEO provider, then please get in touch with our team. We are happy to answer any questions to help inform your decision and facilitate your global expansion.