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 employees work.
With an ever changing business landscape that comes riddled with uncertainty, making the right decisions at this stage is vital for the survival of businesses and global workforce.
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, your HR burden is removed. You can rest assured knowing your business is compliant and that arduous HR global workforce 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.
Rapid 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.
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. A PEO enables a quick and smooth speed to market to ensure you get ahead of competitors, whilst minimise risk factors that come with doing this independently.
Managing payroll for your global workforce is complicated outside of a pandemic. With Covid-19, you can add several other specifications to the check list. Are aware of any tax extensions offered in some countries? There several temporary regulations that impact the normal sick pay processes. These can add further payroll complexities.
Managing a remote global 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. Which long term and short term can have detrimental effects on a business?
With a PEO, we manage this process, so it becomes seamless. This gives you more time and resources that can be focused 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.