Agility, innovation and adaptability in businesses has never been more important. Just as Covid-19 has impacted our everyday lives drastically, it has forced many businesses to transform the way they work. Whether that be structurally, through the service offering or the location from which the global workforce are based.
With an everchanging business landscape that comes riddled with uncertainty, making the right decisions during this period is vital for the survival of businesses.
Having a global workforce and entering into foreign markets comes with a wealth of benefits. However, with a pandemic, workload for managing employees abroad has near doubled. This extra work takes up valuable time and resources that should be spent on building your business back up and steering it in the right direction.
With a PEO, the HR burden that comes with a global workforce is removed. You can rest assured knowing your business is compliant and that arduous HR employee admin is being taken care of.
Here are just some reasons a PEO during Covid-19 is essential for the survival and growth of your business.
Increasing Law Changes
One of the biggest challenges faced by HR teams is keeping up to date with the current government guidelines and ruling bodies of different countries. There are several laws made to protect your staff and business which you need to be aware of. Working with a PEO means you don’t constantly need your eye on the latest government regulations. You’re kept compliant and adhering to the guidelines 100% of the time.
Find New Employees
If there’s one feeling that has come from Covid-19, it’s uncertainty. When each month brings a new set of guidelines, the importance of being risk adverse is essential. Hiring in the current climate is an incredibly resource heavy, time consuming and often costly process. Not only is the process a headache, but incredibly risky if the employee isn’t right for your business.
A PEO will help source the right person, so the focus can stay on the valuable tasks whilst the rest is done for you.
Managing payroll for your employees abroad is complicated outside of a pandemic. With Covid-19, you can add several other items to the check list. There are tax extensions offered in some countries and several temporary regulations that impact the normal sick pay processes. Not keeping up to date with these can be detrimental for your business.
Managing a Remote Workforce
Under usual circumstances, the transition between employees working from a company office to remote capabilities can be gradually managed. But not when there’s a pandemic.
Many businesses have found themselves scrambling to deal with the logistics of employers working from home. This provides many challenges. Not managing your remote workforce effectively can lead to unproductive staff and excessive spending on tech to facilitate a remote desktop.
With a PEO, we manage this process, so it becomes seamless. This gives you more time and resources that can be focused on revenue producing tasks, rather than maintaining operational compliance in foreign jurisdictions.
Request a call back from our global expansion expert today to find out how we can help get your business back on track.