The technology market is one of the fastest growing industries around the world, with the digital sector accounting for 7.7% of the UK economy alone. This huge economic worth combined with the industry's ability to work remotely make it a popular sector for global expansion. Here's why technology firms need an international PEO or EOR to help facilitate that global expansion.
Save On Time, Money and Resources
No one wants slow and costly technology. Likewise, you don't want your tech company's expansion to be slow and costly. When expanding into a foreign country you will have to set up a legal entity, potentially acquire work visas for your employees and get to grips with said country's employment laws and regulations. None of this is a quick process. Getting the in-depth knowledge of international employment legislation and complying with it, and setting up a legal entity is a process that can take ample resources, staff and cost - not to mention vastly increasing your time to market.
A global PEO on the other hand, has first-hand experience in employment laws around the world, not to mention a dedicated team committed to helping your business expand. Meanwhile, as the legal employer of your international employees, a PEO removes the need for you to set up a legal entity, overall cutting your time to market and saving you valuable time, money and resources.
Why is a quick time to market so important for tech companies? We don't need to tell you that the tech industry is a heavily competitive world. From acquiring the top talent to getting your services or products out there, competition is rife. An accelerated time to market enables you to beat the competition by giving you earlier access to customers and talent. Meanwhile, we free up your staff and employees from arduous expansion-related admin so they can focus on dominating the competitive, global tech market.
Of course, work permits, global employment regulations and tax laws come with huge compliance risks for your business. An international PEO can take this risk from your shoulders.
With years of experience helping businesses to expand globally and extensive experience of country-specific best practices, you can rest assured that all legislation is passed compliantly by your PEO, avoiding costly fines or endless red tape hindering your expansion.
Hire The Top Talent
Recruitment can be a challenge at the best of times. However, add in a foreign country with differing regulations and best practices and international recruitment is extra challenging to say the least. At Leap29, we have over 20 years of experience helping the tech company to hire the best possible candidates across the globe. Therefore, as your PEO and recruitment partner, you can rest assured you will find the right person for the job as we help you to overcome cultural stumbling blocks and navigate interview protocols, hiring practices and employee contracts.
Meanwhile, hiring in this market can be incredibly challenging with top tech companies vying to recruit the top talent. An international PEO can assist with drawing up employment contracts, ensuring employee regulations and best-practices are met and helping to administer some lucrative employee benefits on your behalf, allowing you to attract, and retain, the leading technology talent wherever you are in the world.
Helping you to hire and retain the top client, cutting your time and cost to market and helping you comply with employment laws, an international PEO is an essential partner in your global expansion. If you want to find out more about how our PEO services can help your technology business grow on the global scale, contact our PEO experts on 01625 537 555 or email email@example.com.