The travel restrictions imposed following the coronavirus pandemic have made it harder than ever for globally-minded companies to plan expansion into new markets or access the global talent pool.
Around 90% of the world are living in countries where borders are closed to non-citizens and non-residents, according to the Pew Research Centre. These restrictions are compounded when paired with the visa challenges created by countries like the US and Japan.
This means that if a company isn’t already established in its target country, it may find it difficult to incorporate the business locally. This disrupts business plans and could mean that companies choose not to hire talent globally.
Amid this background, a growing business will need to consider:
- How will they execute new hires based on skill alone, without relocating employees from other countries?
- How will they expand into countries without the ability to hire in those countries?
- How can they compliantly hire staff in a country that it does not have an entity in?
Organizations and their leaders want to answer these challenges even though travel and visas are on ice. So, how can they do it?
It’s simple. Just adopt a glocal strategy and combine it with a global employment solution, like an Employer of Record (EOR).
What Is a Glocal Strategy?
A glocal strategy aligns a company’s global employees to ensure continuity of branding, message, and process while having a genuine local flavor. Glocal employees will already work in various countries and have the insights to understand the local culture and practices, which eliminates the need to relocate expats.
For example, if a company expands into Japan, the simplest approach is to employ Japanese citizens or residents. This removes the need for visas or mobility programs while taking advantage of local knowledge and contacts.
However, if you lack a local entity, then this approach encounters an array of issues. Overcoming those hurdles is easy with a global employment solution, like an Employer of Record.
An Employer of Record Unlocks Global Opportunities While the World Is in Lockdown
An Employer of Record is a specialist HR company that empowers organizations to employ overseas – in countries where they lack a local entity.
An EOR can:
- Enable a company to hire based on skill set by employing new staff wherever in 135+ countries worldwide, without relocating them. This sidesteps the need to incorporate the company locally.
- Simplify and accelerate expansion into other countries by hiring local talent through its network of local entities.
The Employer of Record does this by using its footprint of local entities across the world. The EOR uses these entitles to employ new talent on a company’s behalf.
The new employee is managed by the company while they are legally employed by the EOR, which also handles the employee’s payroll, benefits, and retains all risk. This ensures the employee remains compliant with any local labor and tax laws that may affect them.
Glocal Employees Need World-Class HR Support
While remote employees can keep a company running and expanding through a pandemic, they also need the right HR support to ensure that they are locally compliant with any labor or tax laws.
Aside from allowing companies to easily embed new employees into almost any country without friction and at a fraction of the cost of incorporation, the EOR also provides support throughout their employment and offers guidance when encountering any local HR hurdles.
When a great HR solution is coupled with a global employee approach, it removes the uncertainty of how to continue growing and executing global business plans when travel and visas are restricted.
It is a game-changer.
If You Are Planning to Expand into Countries While Movement Is Restricted, Speak With Experts In Global Expansion.
About Elements Global Services:
Elements Global Services is an award-winning HR technology & services company. Elements provides employment solutions in over 135 countries – covering everything from payroll, benefits, HR, local compliance to visa & mobility. Headquartered in Barcelona, Spain, Elements has a global network of offices and employees delivering innovative solutions to its growing customer base. Elements’ Direct Employer of Record model helps companies expand, onboard, manage & pay employees worldwide. Visit www.elementsgs.com, LinkedIn or Twitter for more information.