Singapore is one of the fastest growing countries across the globe and right now it is luring more international entrepreneurs in order to invest and start a business in the country.
One of the first steps in expanding your business is to hire local employees in Singapore, but the thing is, the hiring process is not an easy thing to go through, considering that you are physically not in the country, however, the good thing is that there are a number of things that you can do in order to make things happen.
Below, we have created a blog that will allow you to understand how to hire an employee in Singapore without forming a company in the country.
What is an Employer of record or Professional Employer Organization?
An Employer of Record is a company that takes on all employer-related responsibilities for a small business to large enterprise-sized businesses. The main responsibilities of the EoR (Employer of Record) is to handle payroll compliance, benefits administration, unemployment claim reporting and other HR related tasks.
On the other hand, a Professional Employment Organization, which is also known as PEO in Singapore, is an organization that partners with other organizations in order to provide comprehensive HR services, which includes recruitment, training, development, tax filing, and other services.
5 Benefits of partnering with a PEO
- Better Working Environment
The main goal of a PEO is to make sure that you are getting everything done the right way. How is this possible? Well, a PEO offers to do a number of things for the organization that has hired them. Here are some of the many things a PEO will be doing for your company, which can lead to a better working environment:
- HR services
- Payroll services
- Employee benefits
- Taxation services
- Safety/risk and legal services
- International employment services
- Business planning and research
Please do keep in mind these are just some of the many responsibilities of a PEO.
- Hire The Best Employees
Like what we mentioned above, the PEO will be responsible for HR related services, which also includes hiring the best skilled professionals that could allow your business to grow in an exponential way.
From the hiring process to the development and training, the PEO will make sure that your company is getting to hire the best skilled professionals that are currently haunting for a better job.
- Training
Without proper training, your company is likely to experience a lot of problems, which is why a PEO is important to be involved, especially when you are planning to open a business in a different country.
Remember, there are a lot of things that an employee needs to do in order to become a right fit in your company, and the PEO will make sure that they undergo all the training that there is.
- Zero Stress
With a PEO, you do not have to worry about anything considering that they are responsible for carrying out HR related services.
Some of the many responsibilities of a PEO include employee benefits, taxation benefits, hiring process, training, recruitment and many more. All you would have to do is sit back, relax and wait until things happen.
- Save Money
Going with PEO services will allow you to save a lot of money, especially if you go with a country where labor is affordable.
Remember, the main goal of a PEO is to make sure that your company is saving money and is getting the job done in the right way!
INS Global can help your business
If you want to find payroll in China, or wherever in Asia, INS Global is a global Employer of Record based in Shanghai which has helped over 200 foreign companies with its payroll solution. Recognized as the Human Resources leader in Asia, they have the experience and knowledge to help you streamline the processes of hiring and Payroll in China.
