A PEO Platform That Enables Global Hiring for Startups
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
A PEO, or Professional Employer Organization, offers HR solutions that can be scaled to small- or middle-sized businesses—especially those that have multi-country needs—to offset the downsides of not having a dedicated in-house HR team.
With a PEO partner that assumes responsibility for tasks such as compliance, benefits and payroll, businesses are freed up to focus on finding and working with talented remote workers without the headaches usually associated with the global hiring process. The PEO bridges that gap seamlessly at a fraction of the cost of a capable in-house HR team.
The roadblocks to global hiring for startups
Companies in almost any industry, especially startups, have a lot to gain from hiring skilled remote professionals. With such a vast, diverse talent pool to pull from, there are exponentially more opportunities to find the perfect fit for any position at hand. Startups can build a culture of flexibility and agility that sets them off to a significant advantage over competition.
Furthermore, startups in growth mode can easily scale globally and take more opportunities for market expansion. By seeking talent offshore, startup owners can explore value-for-money manpower support without a drop in quality.
And with the world of work thrust into a new normal, having the capability for remote work is more crucial than ever. This new working paradigm, enforced by the need for physical distancing, has opened so many new opportunities for global hiring that it’s quickly becoming the norm.
Fortunately, today’s multitude of collaboration tools such as Zoom, Slack, Notion, and Google Suite, as well as the rapid adoption of cloud-based services across industries, have put remote employment virtually at every company’s disposal. COVID-19 sped up the workplace trends we’ve been experiencing in recent years, bringing forth a reality which will likely define the future of work in a post-pandemic world.
While global hiring opens many doors for startups, it does not come without hurdles. A young company might lack the experience and resources in terms of manpower and infrastructure to hire globally. Similarly, many startups simply don’t have adequate knowledge to navigate foreign employment laws and regulations, which ultimately results in good talent slipping by.
With all this considered, PEOs are a natural fit for startups looking to hire globally. Partnering with a PEO enables companies to bypass most of the complexities that normally come with hiring global talents by offloading them onto a dedicated team that has the experience and resources to make talent acquisition faster, simpler and more cost-efficient down the line.
A PEO offers simple solutions to all of these roadblocks, allowing businesses of any size to easily tap into the global talent pool.
Tapping into the global talent market with a PEO platform
A PEO platform allows companies to hire easily from anywhere in the world by streamlining essential HR and administrative tasks such as compliance, benefits and payroll. By understanding the unique challenges startups face when hiring remote professionals, a PEO offers solutions that allow businesses of almost any size to work with anyone, in all parts of the globe.
Startups often risk losing good talent when they hire them as contractors. Too often, a good candidate gets hired at a contractual capacity and even if they perform exceptionally, certain governmental and labor restrictions might prevent them from progressing in the company. Oftentimes, smaller companies tend to lack the resources, expertise, or awareness of the intricacies of international labor and tax laws to properly employ from the global talent pool; and miss out on exemplary workers due to complications like these.
A PEO should have hiring expertise and in-country knowledge of foreign labor laws to ensure all bases are covered in the legal arena. They overcome these employment complexities by eliminating the costly and tedious task of setting up local entities, thereby protecting your business from compliance and tax liabilities, as well as your IP assets.
Onboarding and payroll
Because time is of the essence in startup environments, a PEO can also onboard successful hires quickly and manage employee payroll, allowing them to contribute to the company as soon as possible to maximize the value of their time and reassure offshore employees that they are taken care of despite working remotely.
With a credible PEO on your side, global hiring does not need to feel like an unreachable goal for a company of any size or maturity. Best of all, a PEO partnership costs considerably less than an in-house HR department.
Experience the PEO advantage with Multiplier
Using Multiplier extends the same advantages as a top-tier PEO, plus something extra to make global hiring for startups a breeze.
Never worry about compliance
The use of Multiplier provides comprehensive compliance coverage, meaning you won’t need to attend to any requirements when you hire overseas. Multiplier has the whole onboarding international talent process covered. You can simply review the onboarding progress through a dedicated dashboard at your leisure.
Maximize your investment—Whatever size you are
A solid PEO platform empowers small- and middle-sized enterprises with the capability to benefit from an international talent pool. Multiplier works with companies of any size and has reasonable pricing options that make it accessible to smaller companies that do not have the resources for a dedicated in-house HR team capable of global hiring.
Get the best talents from all over the world onboard and retain them
Startups are best placed to use Multiplier. This PEO platform enables startups to hire overseas talents in one or multiple countries as full-time employees at the same speed and effort. This comes complete with reasonable benefit packages that will not only sign on top talents but will also make them stay.
Experience a technology-focused approach to managing a global team
Since the startup environment is generally a tech-savvy industry, Multiplier provides an easy-to-use and first-in-class single dashboard to give you full visibility of your distributed, global team.
The PEO dashboard also comes with streamlined payroll and accounting workflows to keep track of salary payments and expenses. Global payments can be done securely in a single click so employees can be paid on time, in their local currency.
By delegating these intricacies to a reliable PEO platform and using Multiplier, along with the savings you will get to keep, you can add exemplary remote talents to your growing team while having the luxury to dedicate more time, focus and resources on other value-adding investments that will help continue your startup’s growth journey.