Starting a business is not an easy thing to do, especially if you are planning to open it in a different country, but the good thing is that there are a number of things that you can do in order to make the process an easy one.
One of the many things that you can do in order to start a business in another country, particularly Singapore, is go with PEO in Singapore, considering they can do a number of things for you, which includes handling HR services, Payroll in China, and many more.
What is an Professional Employer Organization
But before we start talking about what they can do for you and how they can benefit you, allow us to explain what a PEO is.
A PEO (Professional Employer Organization) is an outsourcing firm that offers HR related services to small and medium-sized businesses. Most of the time, the PEO offers the following services:
- Human resource consulting
- Safety and risk mitigation services
- Payroll processing
- Employer payroll tax filing
- Workers’ compensation insurance
- Health benefits
- Employers’ practice and liability insurance (EPLI)
- Retirement regulatory compliance assistance
- Workforce management technology
- Training and development
Not only that, but the PEO is also responsible for taking care of taxes, paying unemployment insurance taxes and offering workers compensation coverage.
5 advantages on how a Global PEO can help you
- Safety and Risk Management
With a PEO, your company will automatically prioritize safety and risk management, considering that one of their main goals is to make sure that your company is following all the safety and risk management guidelines that the government has set up for businesses and organizations that hire employees.
The PEO will also make sure that all your employees are safe and are not getting involved in any scenarios that their lives might be in jeopardy.
- Training and Development
Without proper training and development, your company is going to lose a lot of things, especially if you recently opened a new branch or office in a different country.
From the things that they need to learn to the things that they need to develop, everything will be handled by the PEO. Like what we said above, the main goal of the PEO is to make sure that your company is running without any problems.
- Offering Health Benefits
Offering health benefits to your employees is really important, especially if you are planning to start a business in Singapore.
Remember, Singapore has very strict rules when it comes to running a company, which is why following the laws of the company is really important and that can happen easily when you hire a PEO.
- HR Services
Remember, the PEO’s main goal is to offer HR related services so you can stress free when opening a company in a different country such as Singapore.
Here are some of the many things that the PEO will be taking care of for you:
- Human resource consulting
- Safety and risk mitigation services
- Payroll processing
- Employer payroll tax filing
- Workers’ compensation insurance
- Health benefits
- Employers’ practice and liability insurance (EPLI)
- Retirement regulatory compliance assistance
- Workforce management technology
- Training and development
- Proper Implementation Of Technology
WIthout using technology, your company will suffer a lot, but luckily you do not have to worry about that when you hire a PEO. The PEO will make sure that your company is using the latest technology and tools that would allow everyone to become more efficient.
How Can Global PEO Help You
As a Professional Employer Organization (PEO) or Employer of Record (EOR), INS Global offers a huge variety of HR Solutions to take your staff global in only 48 HOURS. Whether you’re ready for your next stage of expansion, their outsourcing services can streamline the processes for your business.