Benefits of Outsourcing HR When Growing Internationally
We believe that all companies looking to grow internationally put themselves in a better position to succeed when they outsource their human resources management. We believe this because we understand the risks businesses face when they take on the HR endeavor themselves. Today, we will look at some of the most common benefits of outsourcing global HR needs.
Enter Global Markets Faster
Establishing local entities globally can take quite some time. Growing organizations that trust Stipenda avoid the complex challenges of compliance, immigration changes, tax implications and more.
Protection from International Compliance Risks
Any business trying to navigate through international compliance issues will need to dedicate multiple people and a lot of man hours to do so correctly. Stipenda allows businesses to focus their time on their areas of expertise. When companies make Stipenda the employee of record for their outlets in Europe, Asia, Africa, etc., they greatly reduce their liability risk when hiring employees and licensing intellectual property in different parts of the globe.
Access to Better Quality Talent
Stipenda has built in relationships with top talent from around the globe. Local laws and regulations can be rather complex. Trusting Stipenda to add talent allows a company to remain in charge of their employees without worrying about compliance issues.
Better Employee Benefits
Companies that trust Stipenda as their co-employment partner gain access to the highest quality talent in different regions of the globe. Stipenda can often leverage our experience and talent pool to offer higher wages and better-quality benefits to employees. The higher the pay and the better the benefits, the more likely a business is to attract top tier talent.
Faster Route to Profitability and Growth
Because Stipenda has experience helping businesses grow in regions all over the globe, we are more efficient at setting up a business for sustained growth quickly and safely. Companies can start off small with a country or two and then ramp up as Stipenda starts to show how they can ensure a cost-effective and profitable rollout of a company in a foreign market.
Outsourcing human resources allows for the lowering of legal risks as Stipenda takes on compliance issues. Additional shared employer risks can include handling everything from employee hiring to employee firings. When employee disputes arise, which can often be an unfortunate price of doing business, Stipenda can be trusted to resolve these issues legally, which will protect a business from facing damaging lawsuits.
Accurate Payroll Your Company and Your Employees Can Depend On
International payroll can be a rather expensive undertaking for a company. It’s vital that local/national income tax regulations are completely understood. Stipenda understands that money that needs to be deducted from employee salaries to ensure they are in compliance with their local government’s rules and regulations.