Velocity Global

MARCH 24, 2023

Employers who violate these regulations risk penalties that may hurt their bottom line and business reputation. Read our guide to learn the common risks associated with global payroll compliance and how to avoid them. Learn five common compliance risks of running global payroll below.

Payroll 52

Payroll Regulations Administrative Outsourcing 52

IBM Services

DECEMBER 8, 2023

.” This same sentiment can be true when it comes to a successful risk mitigation plan. The only way for effective risk reduction is for an organization to use a step-by-step risk mitigation strategy to sort and manage risk, ensuring the organization has a business continuity plan in place for unexpected events.

Risk Management 72

Risk Management Risk Management Insurance Cybersecurity 72

Velocity Global

OCTOBER 13, 2022

Learn the compliance risks and global employment options for hiring employees for a nonprofit organization. Know Your Compliance Risks When Hiring Internationally. Nonprofits often operate on strict budgets and cannot afford the risks, fines, and penalties that result from non-compliance. Permanent Establishment.

Payroll 52

Payroll Regulations Flexibility Reduced Costs 52

Velocity Global

MARCH 7, 2023

One of the most common strategies for entering a foreign market is establishing a foreign subsidiary. A foreign subsidiary acts as a separate legal entity in the target country and offers the parent company benefits like local tax incentives and compliance risk mitigation. Table of Contents What Is a Foreign Subsidiary?

Government 52

Government Global Hiring Flexibility Payroll 52

Velocity Global

APRIL 21, 2023

However, facilitating global workforce mobility involves navigating complex immigration, employment, and tax laws across multiple jurisdictions—all of which pose significant compliance risks. Other examples include sending talent abroad for long-term assignments or permanent relocation. Permanent assignments in another country.

Payroll 52

Payroll Finance Flexibility Sourcing 52

Velocity Global

NOVEMBER 22, 2022

Although there are several payment methods available, companies must also consider other factors before engaging contractors, including taxation, IP protection, and compliance risks. However, you’ll need to correctly classify the contractor, prepare compliant contracts, and establish a payment structure and timeline. Misclassification.

Banking 52

Banking Regulations Accounting Human Resources 52

Globalization Partners

JUNE 22, 2022

Going global it’s a milestone that often goes unaccomplished due to the grand scale of changes associated with expanding a business and the unknown fear of new financial risks and legal hurdles. Here’s why it’s essential to establish an international workforce: Broaden your talent acquisition strategy.

Payroll 83

Payroll Finance Flexibility Regulations 83

Velocity Global

SEPTEMBER 13, 2022

Therefore, it’s important to understand the employment differences and compliance risks while targeting Spanish talent. An EoR handles compliance, risk mitigation, hiring, onboarding, and payroll while you retain complete oversight and daily management of your team. Misclassifying a Spanish contractor is a potential risk.

Payroll 52

Payroll Regulations Flexibility Manufacturing 52

Velocity Global

OCTOBER 12, 2022

Companies can either establish a legal entity, partner with an employer of record, or hire and pay staff as contractors. Establish a Legal Entity Overseas. company plans to set down roots in a new country, it makes sense to establish a legal entity. company establishes a legal entity. Permanent establishment (PE).

Payroll 59

Payroll Jobbing Design Marketing 59

Velocity Global

OCTOBER 4, 2022

Establish a German Entity. Establishing an entity in Germany gives you full autonomy to hire talent directly and handle employment logistics internally. Entity establishment is a good option if you want to hire many employees or plan to develop a long-term presence in the country. Permanent establishment.

Payroll 52

Payroll Insurance Regulations Banking 52

Velocity Global

SEPTEMBER 20, 2022

Both options allow companies to expand their workforce, but the former requires far more commitment and risk. Setting up a legal entity is a natural choice for companies that want to permanently establish in a new country. The employer takes on more challenges and more risk when trying to determine those contributions alone.

Payroll 52

Payroll Insurance Out-Tasking Manufacturing 52

Velocity Global

FEBRUARY 27, 2023

To hire talent in the UAE, global employers have three options: establishing a legal entity, partnering with an employer of record, or engaging contractors. Establish a Legal Entity in the UAE Companies that want to hire talent in the UAE may choose to establish a legal entity in the UAE.

Payroll 52

Payroll Finance Administrative Design 52

Velocity Global

SEPTEMBER 30, 2022

International companies that want to establish permanently in Colombia can set up a legal entity. However, it’s a costly process that takes time and opens the door for more compliance risks. Companies face risking misclassifying contractors , which could damage their reputation and incur fines. Permanent establishment.

Payroll 52

Payroll Accounting Healthcare Human Resources 52

Velocity Global

NOVEMBER 16, 2022

Entity establishment allows you to employ staff directly and maintain all HR functions internally. Along with establishing a physical headquarters, businesses must hire a resident director and pay ongoing administrative fees. Read more about contractor risks in Singapore. Let’s examine each option.

Banking 52

Banking Regulations Payroll Out-Tasking 52

Velocity Global

OCTOBER 20, 2022

The process differs from hiring employees in Mexico, where you would either establish an entity in Mexico or partner with an employer of record (EoR) to hire, pay, and manage foreign employees. Some platforms even offer extra features, such as locally compliant contract templates and an assessment of your international contractor risk.

Banking 52

Banking Regulations Payroll Accounting 52

Velocity Global

SEPTEMBER 1, 2022

If your company is hiring foreign workers, you might consider setting up a formal establishment in another country. While establishing a formal entity is one route to hiring international talent, it’s not the only option. You don’t have to establish a permanent foreign entity to hire foreign workers.

Payroll 52

Payroll Regulations Management Human Resources 52

Velocity Global

SEPTEMBER 24, 2022

If your company has plans to create a permanent establishment in France, establishing a legal entity is an effective option for hiring employees in France. Entity establishment is also costly and requires a long-term financial commitmen t. However, the risks of noncompliance in France are high. Yes, a U.S.

Payroll 93

Payroll Research Regulations Management 93

Velocity Global

MAY 2, 2023

An indefinite employment contract, or permanent contract, is a type of employment contract that does not have a specific end date. Fixed-Term Contract A fixed-term contract , also known as a definite contract, has an established expiration date as formally recorded in the agreement—or it ends when a specific project is complete.

Regulations 52

Regulations Payroll Jobbing Government 52

Groove Technology

SEPTEMBER 21, 2021

Offshore” represents the type of development work where you are delegating project activities to another team, who are the same permanent employees as your local team, except that they are based in a different location. (It The second option is to switch to the services of an established group working on behalf of a registered company.

Offshoring 246

Offshoring Software Service E-Commerce 246

Velocity Global

JANUARY 20, 2023

Establishing a separate legal entity allows you to benefit from some of the tax exemptions available under the free trade agreements with ASEAN countries. An EoR is a legal entity that handles every aspect of employment in Malaysia, from onboarding and payroll to benefits administration and risk mitigation.

Payroll 52

Payroll Insurance Administrative Human Resources 52

Velocity Global

MAY 19, 2023

Establishing a workforce strategy that accounts for your team’s capabilities, long-term goals, and potential roadblocks allows you to minimize setbacks and streamline growth. Employers usually hire remote, global talent in one of three ways: establishing a legal entity, engaging contractors, or partnering with an employer of record (EOR).

Right-Sizing 52

Right-Sizing Human Resources Payroll Administrative 52

Premier BPO

JANUARY 3, 2022

Co-Sourcing is defined as a type of outsourcing in which an externally hired company acts as a part of your in-house operation while promoting shared risk and reward values. Others term a more permanent solution to be changing the attitudes of managers entirely, in addition to all modern job perks ( Gallup ).

Co-Sourcing 52

Co-Sourcing Sourcing Offshoring BPO 52

Groove Technology

DECEMBER 9, 2021

Workers may need to take on other projects or leave the supplier’s company for a more permanent role before the project ends. Risk of developing dependence: In some cases, increased employee use may increase reliance on a third-party vendor.

Nearshoring 130

Nearshoring Outsourcing IT Outsourcing Software 130

Safeguard Global

JANUARY 30, 2020

Simply, an employer of record, also known as an EOR, is a way to quickly add workers in new global markets without having to take on the cost and risk of establishing an entity in a foreign country. In effect, you get to benefit from in-country workers’ contributions without taking on risk to your organization.

Payroll 52

Payroll Insurance Administrative Banking 52

Safeguard Global

OCTOBER 1, 2020

HR, beware: Considering fixed-term employment contracts as part of your global hiring strategy could expose your company to more risk than you can handle, both legally and financially. If HR is not versed in the nuances of local labor regulations, it may unwittingly put the organization at risk.

Global Hiring 52

Global Hiring Regulations Payroll Government 52

Velocity Global

OCTOBER 20, 2022

There are two primary routes to hiring employees in Australia: partnering with a global employer of record (EoR) or establishing a legal entity in the country. While this may make sense for companies that want to establish a permanent presence in Australia, it’s costly and time-consuming. Partner With an Employer of Record.

Payroll 52

Payroll Insurance Software Administrative 52

NoonDalton

SEPTEMBER 13, 2023

In our p revious blog post , we delved deep into the transformative concept of skill-based teams and the benefits they bring to the table. Clearly define these roles, ensuring that they’re established based on expertise and experience rather than just tenure. Scalability and Flexibility: Outsourcing offers flexibility.

Outsourcing 52

Outsourcing Out-Tasking Collaborations Flexibility 52

Velocity Global

DECEMBER 16, 2022

In today’s ever-changing technology climate, the risk of cyber crimes and data breaches has significantly increased. Triggering permanent establishment. A business is at risk for permanent establishment if it has an employer of record (EoR) but offers employee benefits through an external provider other than their EoR.

Insurance 52

Insurance Global Hiring Jobbing Regulations 52

Safeguard Global

APRIL 13, 2020

The requirements and structure of a foreign legal entity vary from country to country, but there are three main types: Representative office The representative office establishes a minimal presence in the country. The person who completes the registration is usually required to be a citizen or permanent resident of the host country.

Government 52

Government Banking Marketing Administrative 52

Paysquare

MAY 27, 2023

An EOR can take on the employer responsibilities for a company, managing all aspects of migration, joining and on-boarding, benefits administration, payroll management, compliance and risk management, employee query resolution, and exit management.

Management 52

Management Payroll Administrative Regulations 52

The Scalers

JULY 22, 2021

Offshore development is when a company builds a permanent, dedicated team of developers in another country. Going offshore lets businesses establish larger offices, recruit offshore developers at a faster pace and change more dynamically. Only 29% of tech companies believe they have the right IT talent. Source: World Economic Forum.

Offshoring 56

Offshoring Outsourcing Engineering Operational Costs 56

The Scalers

MARCH 2, 2022

But, trying to permanently support hybrid work models will be among the main challenges for CTOs and CIOs well into 2022. That being said, the major security risk every year remains the same: People. It’s essential for IT leaders to educate their employees regularly on cybersecurity risks and how to avoid them.

Cybersecurity 77

Cybersecurity Offshoring Out-Tasking Engineering 77

The Scalers

APRIL 27, 2022

If we’ve established that developers are central to everything, then the next question to explore is why companies who limit their hires to those found locally risk falling behind? In this new age, speed and flexibility are the keys to innovation, and unlocking this resilience requires software-centricity. Local obstacles to overcome.

Offshoring 86

Offshoring Software Engineering Extended Teams 86

Paysquare

AUGUST 6, 2023

Did you know that The year 2021 and the future are bound to witness a phenomenal growth in permanent, temporary, and gig staffing. It is essential to align payroll practices with the requirements of the applicable labor laws, such as the Shops and Establishments Act, the Factories Act, and the Payment of Wages Act, among others.

Payroll 52

Payroll Regulations Healthcare Government 52

Magellan Solutions

AUGUST 24, 2018

Simply put, it establishes the connection between two websites. They can face the risk of being permanently forgotten or lost in search engine pages. Guest blogging. Guest blogging allows you to reach new audiences by creating and publishing contents on popular and reputable websites.

Engineering 45

Engineering Accounting Marketing Service 45

Premier BPO

MAY 24, 2023

To read our insights from the previous SOCAP symposium, read our 2022 recap blog. . ‘NO coach’ serves as a valuable resource, assisting individuals in confidently saying no when necessary, fostering healthy boundaries in relationships. Premier BPO is a long-standing member and sponsor of SOCAP International.

Offshoring 52

Offshoring BPO Co-Sourcing Outsourcing 52

Zinnov

OCTOBER 13, 2021

Think of Airbnb and Uber, both of which leveraged the asset-light, sharing economy paradigm, which are larger than the largest group of hotels and cab companies by diversifying risk through diversified ownership. Additionally, the speed and cost of establishing a global center has become asset-light and near frictionless.

Banking 52

Banking Healthcare Efficiency Flexibility 52