A global payroll provider is a specialist company that offers a comprehensive payroll service for companies operating internationally. Their global payroll system coordinates all aspects of payroll processes that can be extended across multiple countries utilising a single platform. Integrated payroll services include calculation and paying of wages, ensuring local tax and labour law compliance and currency conversions.

7 Advantages of using a Global Payroll Provider

1. Reduced administration costs.
2. Time saving.
3. Streamlined processes.
4. Centralised management.
5. Enhanced data security.
6. Compliance expertise.
7. High quality payroll data.

Using a Global Payroll Provider vs an EOR Service

Partnering with a global payroll provider or an EOR service can advantage a company operating internationally. A global payroll provider and EOR service provider offer different services. Therefore, the advantages and offerings of each needs to be understood to determine suitability.

Corporate Conditions that Favour Global Payroll Services

1. Existing legal entities: Company is already registered locally and can legally employ staff.
2. In-house compliance capacity: Internal HR and legal teams are equipped to handle local labour, tax and compliancy laws.
3. Already established local presence: You’re building permanent teams not testing markets.
4. Need centralised payroll reporting and analysis: In-house finance needs a consolidated dashboard for multiple-country visibility and compliance tracking.
5. Require optimising costs at scale: Need to strategically manage expenses and maximise efficiency gains.

When EOR Services Benefit Companies

Companies, without a local entity, that are looking to expand their international operations are significantly advantaged by utilising an EOR service. Aside from expediting international expansions, EOR partners decrease the risk of growing operations into a new country. They do this by ensuring continuous compliance with local legal, tax and company compliance requirements. A comprehensive EOR service also provides HR administrative services, through which dedicated employees are recruited, vetted, hired, managed and paid.

4 Benefits of an EOR Service:

1. Decreased costs.
2. Time savings.
3. Local compliance.
4. Access to high calibre foreign worker’s skills.

Not all EOR service partners provide the same level of services. Nor do they provide the same EOR service package. It’s advisable to assess how comprehensive an EOR service is before choosing one.  For example, the Key Recruitment Group’s EOR recruitment process includes finding, shortlisting and vetting suitable candidates, interview assistance, onboarding and managing probation periods.

The Key Recruitment’s Comprehensive EOR services include:

• HR and business advisory services.
• Ensuring tax compliance.
• Human Resource (HR) Management and all related employee relations management, for example full-service hiring process, contract management and overseeing employee benefits.
• Access to local legal teams.
• Administration of Payrolls.
• Assist in setting up or providing work centres with all the required infrastructure.

Contact Us now to discuss how to access and enjoy the benefits of partnering with the Key Recruitment Group to successfully realise your company’s international expansion operations.

FAQs:

1. When to use a Global Payroll Service?

If your company is already established internationally and wants to streamline payroll across borders, then consider a Global Payroll service.

2. Why use an EOR Service?

An EOR service assists companies to expand into new countries when they do not have a local entity. It enables them to hire quickly, save startup and operational costs as well as minimise legal, tax and compliancy risks.

3. Why use the Key Recruitment Group’s EOR services?

The Key Recruitment Group has over 45 years of experiences. It’s comprehensive EOR package has a proven track record of successful partnerships that have decreased client’s cost, time and risks associated with international expansion.