Decoding Global Hiring from Sourcing to Compliance
Global hiring needs strategic planning, funds, decision-makers, and resources. Although the process is complex, global employers find it beneficial to hire international employees for their organization. Cost effective, less consumption, and reduced HR burden are among them. Professional Employer Organization ( PEO) and Employer of Record (EOR) are helpful which can eliminate hiring complexities and many more.
In this blog, we will show how to simplify global hiring and how PEO/EOR is beneficial in this journey.
Understand PEO/EOR services
Professional Employer Organizations and Employer of Record service providers both work to bypass the conventional hiring process. The service platform offers comprehensive services regarding finding new talent, scheduling meetings with you, arranging onboarding after your finalization, and supporting them in payroll.
PEO is basically a co-employer platform that plays crucial HR roles in hiring. The platform also supports hiring while maintaining local employment laws and local labor laws. It needs your local entity and work for you.
Similarly, EOR offers global hiring with the accessibility of the global talent pool. With hiring, the platform also offers compliance, payroll, local labor laws guidelines, etc, to avoid legal risk. The platform doesn’t need any local entity and can work as a legal partner in any country you target to hire employees.
These two platforms offer a massive talent pool, manage the payroll, calculate tax regulations and benefits, etc, for international employees.
Let’s check the benefits of using such platforms to smoothen global hiring.
The benefits of using a PEO/EOR service provider
In the complex global hiring scenario, these two platforms offer a seamless hiring experience. Let’s check how they do:
International reach
To tap into the local talent pool, global employers need to set up an entity. But for a PEO or EOR platform, they don’t need any entity set up because they have legal ties with those countries and can easily tap into the talent pool. So, the global reach is high in the PEO or EOR platform and easier than entity setup.
Compliance and low-risk
With PEO and EOR, compliance is easy and smooth. As these service organizations have experts in global compliance and legal measures, employers receive low risk from legal consequences.
Cost-effective
Global employers can save funds because with PEO or EOR they only need to pay the license fees of the service provider. No need to pay anything extra.
Scalability with flexible operations
PEO and EOR help in onboarding as well as offboarding. If employers need to off-board candidates, they can do it swiftly, as the service provider performs all the legal and official formalities.
PEO and EOR: Reduce the complexities
PEO and EOR play vital roles in hiring, compliance, and managing payroll. The platform reduces the complexities and offers a smooth process. Let’s understand more:
Understand legal aspects
EOR and PEO both understand the legal scenario better than any recruiting agency. The platform offers comprehensive guidelines regarding employment laws and labor laws of specific countries to avoid legal complexities during hiring.
Cultural considerations
As the work cultures are different in countries, it’s difficult for employers to equip them with everything. But it’s a comparatively simple task for PEO and EOR service platforms. Cultural differences are significant and employers consider the differences before hiring employees from countries.
Eventually, EOR is better than PEO service provider as PEO needs a local entity of your business but EOR is global and does not need local entity support.
Global Squirrels: A true EOR partner in global hiring
Global Squirrels is one of the leading platforms that works as an Employer of Record partner. You can hire from any country, from any domain, and from any industry – The Global Squirrels talent pool is massive and readily available for global employers.
The platform also supports local labor laws, employment laws, and compliance so that you can be free from legal risk. The platform helps in payroll management, including calculations in compensation, benefits, tax regulation, and managing leave and attendance sheets of the employees.
It is one of the most cost-effective and starts at $199/employee/month. For further information, consult with our experts today!
Conclusion
If you want to simplify your global hiring journey, you must partner with EOR. And if you have a local entity, you can partner with a PEO service provider. While PEO is limited, an EOR is unlimited and serves multiple supports regarding global hiring. Sign up with Global Squirrels and hire employees globally with risk-free compliance.
