Global Expansion in 2021
2020 certainly turned the world upside down and forced organizations to make significant changes to their operations. In recent conversations with my clients, I’ve seen both sides of the spectrum. Some have scaled back operations, while others embraced expansion as employees worked entirely remote. Global Expansion in 2021 will been different, but is still possible.
If you’re thinking of expanding overseas, or need to scale back operations in some markets, the labor and compliance process can be complicated. Each country has unique laws and labor codes, company formation and bank account regulations, and much more to be aware of.
This past month I worked closely with a new client who was finally able to move forward with expansion plans. Candidates were quickly identified, and a hire date was in the very near future. This wasn’t just taking place in one country – they were hiring in 5 countries with huge growth potential.
Where to begin? First things first – the organization needed help with registering their business in each country, as well as a way to pay employees and remit taxes. They needed a one-stop-shop to help them handle multi-country payrolls and resources to establish themselves as an employer. Payroll reporting capabilities needed to be standardized across all countries and easy to manage each month.
Time was of the essence and expertise was needed. Not only was our team able to consult on the necessary in-country requirements, but we were able to quickly set up all registrations and payrolls that allowed for them to meet the deadlines of paying newly hired employees. We accomplished this with our team of global consultants, project managers and in-country partners. Step by step rollouts and milestones were identified for a smooth and quick implementation.
Many organizations find they need an expert when it comes to handling foreign registrations. Naturally, labor laws and compliance are key in this process and there is no room for error as fines can be significant. Having a partner that provides technology and compliance as well as local in country support is a valuable resource. Leave this cumbersome process to the experts so your organization can focus on revenue-driving initiatives.
If you have plans for expansion, we can help. Our customized payroll technology and reporting can scale for your business across 150+ countries. Talk to us today to get started!