The world is more global than ever before. With high-speed internet and cloud-based software to bring us together, markets and industries are going global at a record pace. It’s not uncommon for growing companies to acquire talent overseas or retain employees even if they move to another country. Expanding into new markets, selling products, and building teams across the world has become a possibility even for small and medium-sized businesses. This has led to a growing need for global workforce management strategy, tools, and services.
One of the best tools in your toolbox is a reliable EOR for every country where you have employees outside your company’s home nation. Let’s explore the expanding role of EOR services in global workforce management.
The Growth of Global Workforce Management
Global workforce management is exactly what it sounds like: The management of a workforce that exists all over the globe. You may have employees in nearby countries or across the world. You can hire remote talent from anywhere or build teams in other countries to expand your brand influence and open new markets.
Once you begin this expansion, however, you need a unifying strategy to manage such a far-flung workforce. This includes ensuring compliance regarding labor and business laws in those other countries, payroll in other currencies, benefits from providers in each employee’s home nation, and the ability to recruit great international talent.
A business that meets these goals and can coordinate its international team members will thrive in the new world of global workforce management. But you don’t have to do it alone.
The Role of an Employer of Record (EOR) Service
An Employer of Record (EOR) specializes in recruiting, onboarding, and providing HR services for employees of international companies. Each EOR makes it possible for outside businesses to recruit and operate staff in their country of origin. BrightR, for example, is a Canadian EOR. We make it easy to hire and manage Canadian employees for businesses based outside of Canada.
An EOR is called an Employer of Record because we act as the local employing company for your international employees. It can handle payroll and benefits, and provide HR support for the target country in addition to recruitment and onboarding.
Smooth International Recruitment and Talent Sourcing
Most business relationships with an EOR begin with recruitment. When you need talent located in other countries—or when the talent you want is nearshore or overseas—an EOR is the ideal solution. As a business founded in your talent’s home country, it is possible to recruit, hire, and retain employees outside of your nation. EOR services in global workforce management are essential for building your team.
EORs often cultivate a talent network. These help offshore countries identify professionals with ideal skills and abilities in entirely new talent pools. EORs may also offer personalized recruiting, seeking out professionals who meet your specific company needs.
An EOR benefits talent sourcing by operating within the home country of the new professionals you are hiring. It can provide the advantages of a local business while employees operate as members of your growing global workforce.
Streamline International Payroll
When you hire people outside your nation, payroll is one of the first logistic concerns. Foreign employees will need to be paid fair wages in their national currency. Their pay should align with internal company pay structures while also remaining compliant with their nation’s labor laws. This requires expert management of both finances and policy, an expertise that EORs are in the ideal position to provide.
EORs specialize in managing local employees for offshore employers. They can provide streamlined payroll services and valuable advice regarding payroll policies for employer clients.
Compliant International Benefits Management
Benefits are another matter that must be handled carefully in global workforce management. After all, employees in another country likely don’t have access to the same healthcare network or other benefits packages as employees who share a home country with the company. An EOR will be familiar with all the benefits options available for employees in their own country. It can help employers put together a fair, equal, and locally available benefits package for international employees.
EORs will construct and manage benefits packages that are also fully compliant with the labor and insurance laws of their home country, ensuring full support for employees while mitigating risk for employers.
Remote Employee Support and Connection
Many international employees today are hired to work remotely. This relieves employers of the necessity of setting up a foreign business office while gaining access to valuable international talent pools. EORs specializing in remote recruitment are also prepared to provide employee support and a point of central connection for remote employees who might otherwise become isolated. Remote team administration is one of the things that EORs do best.
Expansion Through International Business Locations
If your business wants to set up new locations in other countries, an EOR is an excellent place to start. Working with your EOR, you can begin building your global workforce before you choose your location or lay the foundation for your first property. It can help you recruit your initial team, organizers, and managers necessary to usher your brand into new international markets.
Retain Employees Who Relocate Internationally
Another valuable benefit to working with an EOR is the ability to retain employees who relocate. If a highly valued employee needs to move to another country, an EOR will be able to continue working for the company remotely with the help of an Employer of Record in their new home country. Your business does not have to establish an HR presence in the new country because your EOR provides international HR solutions on your behalf.
Risk Mitigation for Global Workforce Management
Doing business in other countries, especially when hiring foreign residents or citizens subject to the labor laws of their home nations. EORs specialize in compliance, balancing company policies with local laws. Working with an EOR is the best way to mitigate the risks of global workforce management while maximizing the benefits.
Hiring in Canada With BrightR Limited
Canada is home to a large number of technical experts, capable talent, and thriving markets. If your business is looking for access to the Canadian talent pool or expanding into Canadian markets, BrightR is here to help. As an EOR can help you hire and retain Canadian talent with compliant payroll, benefits, and international HR services.
Contact us today to discuss your business plans and how a Canadian EOR can empower your global workforce management.
