Some businesses lack the resources to address legal compliance and HR matters when entering a new market. However, they have the solution of partnering with a Professional Employer Organisation (PEO, also known as an Employer of Record/EOR).
Working with a PEO when entering a new market will help an organisation to offload time-consuming legal, HR, and tax matters. Here are 3 Benefits of leveraging a PEO like TG Group’s capabilities and experience in specific countries:
Build a Remote International Workforce
The PEO acts as the legal employer of your remote employees, allowing you to manage them on a day-to-day basis while giving them the same resources and tools, regardless of their location.
This is a smart option for companies who wish to increase their team’s diversity and expand their presence in a new market.
Reducing Cost by Reorganising Workforce Processes
Hiring overseas employees through a PEO reduces costs by streamlining workforce processes associated with onboarding, benefits, payroll, and compliance.
By leveraging the collective buying power of multiple employers, PEOs can often negotiate more favourable rates and terms with employee benefits providers (insurance firms, etc.) than individual employers can.
Additionally, PEOs offer risk management services, helping companies identify and address potential liabilities before they become costly.
Staying Agile and Vigilant in an Unfamiliar Market
A secondary set of risks will accompany every expansion into a foreign business environment. Unfamiliarity with the local regulations, especially when you do not have local HR resources or expertise, could be troubling and hinder your expansion progress.
With TG Group’s help to manage mundane HR tasks, companies can test new markets before scaling towards an all-out expansion and establishing a local legal entity. It is a simple way to start a team in a new market in the shortest possible time, thus allowing you to focus on core profit-generating activities and reach new heights.
Business expansion in an overseas market can be complicated and time consuming. However, TG Group’s knowledge in local labour law regulations across 50+ markets will help your organisation mitigate compliance risks to focus on business growth.
Contact us at firstname.lastname@example.org to explore how we can be the trusted HR partner for your global expansion plans to succeed.
Alternatively, WhatsApp us: Malaysia +60175729483 | Singapore +6598276511