Global expansion is often the goal of most companies, however expanding into foreign markets can be very costly. Which is contrary to the aim of establishing business that is to reduce cost and maximize profit. A major part of the increased cost of production involves establishing subsidiaries, or associate work locations in foreign countries.
The ideal situation would be to globally expand at minimal cost while experiencing maximum profit, which can only be the case if certain specific organizational functions are managed properly and effectively.
However in a bid to alleviate the cost of establishing business in a foreign country and reduce it to the barest minimum, we offered our Employer of Record Services. This service was structured for the expandingcompany (Networkers Plc)to still act as the functioning employer and the one all foreign staff report to.
Our employer of record services executes back-office payroll, benefits, and regulatory technicalities associated with international staffing.
A successful transition and operational excellence
The results of this solution were reduced cost of operation, awareness on ground with regards to international staffing issues.
A significant amount of time was saved for the functioning employer and redirected into other revenue generating functions. The issues of compliance were also effectively avoided and curtailed with no issues of non –compliance recorded.