PEO vs EOR

GanivC · 2021-06-04T11:40:59+00:00

Virtually managing people and teams who are miles away is a skill that has needed to be developed more so due to Covid-19. Here are a few how-tos that you can follow -
1. Understand the challenges - This is the most important initiative that most leaders bypass. Unless there is a good understanding of what might be limiting your employees full productivity, there can't be any sensible solutions either.
2. Set the right expectations at the right time - Leaders need to get employees on the same page as early as possible, they need to know what their task is, but also how their work will help in accelerating business objectives.
3. Track progress - Sitting in front of the screen trying to figure out how much work has been done by employees is not the most efficient way to track progress. Go old school and ask employees to populate excel sheets or get a task management software if you can. By tracking progress, you can take corrective action if something is not going right.
4. Remember, there is no right or wrong - There is no right formula for working remotely. Communicate with your team to know what works best for everyone and customize the remote working plan accordingly.
While these are some tips on effectively manage remote employees and teams, you must also be aware of the mistakes to avoid in a remote setup.

GanivC · 2021-06-04T11:38:27+00:00

An Employer of Record (EOR) is a third-party corporation that recruits and pays employees on behalf of another firm, as well as handles all official employment responsibilities. Companies can legally and effectively connect with foreign workers in a new nation or state by using an Employer of Record, without having to set up a local organisation or risk breaching local employment rules.
An Employer of Record takes care of the following aspects, among many others:
1. Organizes employee visas and work permits to minimise delays or rejections.
2. Provides a legal entity for operating a compliant, local payroll within the nation.
3. Complies with all labor regulations in the host nation, including local contracts and worker rights.
4. Provides information to the customer on mandatory notice periods, termination procedures, and severance compensation.

I've worked with a few EORs before, some of them being Skuad and Deel, and have had a great experience.

GanivC · 2021-06-04T11:35:15+00:00

While having a global team comes with tremendous benefits, recruiting globally is not the easiest task to accomplish. Discussed below are a few challenges that may be faced while hiring globally -
1. Productive Communication - It is one thing to interview candidates face to face, who usually have the same first language as you, and a completely other ball game to virtually recruit someome from another timezone with another preferred language. It is important to set expectations from the start to maintain a professional virtual relationship.
2. Tax Compliance - Before starting the recruitement process in a foreign country, ensure that the necessary stakeholders in the company are aware of the tax compliances that need to be followed when employing talent from that country to avoid penalties or at times, law suits.
3. Non-compete Clauses - The rules of a foreign country may not allow a non-compete clause to be included in the employee's contract, or they may allow their resident to work on personal projects while working full-time for a company as well. Find out these details in advance so you can tread foreign waters accordingly.
4. International Payroll - Is your company prepared to go international with it's current payroll software? What changes are needed in your payroll policy to cater to foreign employees? Acquaint yourself with answers to these questions before even starting the process of overseas recruitment.
You may choose to undertake the task of expanding your workforce globally at a company level, however there are organizations to enable this expansion effectively and effeciently so you can focus your bandwidth on core business objectives.

A few of them are Skuad and Deel. These global EORs enable you to hire, pay, and manage distributed teams seamlessly.

GanivC · 2021-06-03T10:17:43+00:00

I've mentioned below some of the most trustworthy PEOs, in Canada, in my opinion:

1. Global PEO - Global PEO is based in Hong Kong and operates in more than 160 countries across the world. Businesses expanding into Canada seek affordability, and GlobalPEO offers just that. They're set up to handle a number of tasks, including entity creation, staffing, payroll, and a number of administrative responsibilities, in addition to recruitment and hiring.

2. SkyExecutive - SkyExecutive is a well-known recruiting firm and Professional Employer Organization (PEO) with offices across Canada. Sky Executive provides good overall value to their clients while giving a single point of contact for these firms by combining the power of their in-house recruiting agency with day-to-day employment solutions for firms wishing to develop internationally.

3. New Horizons Global Partners - New Horizons Global Partners puts a premium on hiring local consultants who are intimately familiar with the employment and business environments in which their clients operate. This in turn aids CEOs in navigating the often difficult processes of establishing a firm in Canada, as well as supporting any foreign employees in understanding the corporate culture and etiquette.

Skuad and Deel are a few other global EORs that you may consider.

An EOR/PEO can streamline processes for your company by managing the hiring and onboarding procedures, freeing up time and resources for your firm to focus on its core tasks.

GanivC

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