As the world becomes more connected, an increasing number of organisations are expanding globally.
However, although international expansion has many benefits for growing businesses, there are also challenges to navigate, such as regulatory requirements, local regulations, tax laws, the implementation of new HR processes, and ensuring compliance.
It’s no wonder, then, that despite the number of businesses expanding internationally, just 3% of organisations rate themselves as being skilled in global deployments.
Given the potential risks involved in entering new and unfamiliar markets, one solution is to hire a global mobility partner to ensure your expansion goes smoothly. In this article, we share four reasons why you should consider investing in global mobility management…
4 reasons why you need a global mobility partner
1. They are experts in international compliance
Without a doubt, legal variations across countries and jurisdictions are the biggest challenge with any international expansion. Moving into new territories brings with it lots of red tape, with rules around immigration, employment law, and tax to comply with.
Every country has different laws, with some having more restrictions than others - and with so many different laws and locations to navigate, it can feel impossible to keep up. Luckily, a global mobility provider will act as a pair of scissors to cut through it all, helping you to navigate different legal requirements in every corner of the globe.
2. They can provide specialist payroll advice
Another challenge to consider when expanding into foreign markets is the different payroll requirements that each country will have each fiscal year. Keeping up with existing requirement and ensuring that nothing gets missed is a headache for even the most knowledgeable HR professionals - and forgetting to include such policies in your global move can have huge implications for your business.
When you work with a global mobility partner, however, they can provide specialist payroll advice for each location and help you to overcome these challenges. Did you know, for example, that in Argentina, employees must sign to confirm receipt of their payslips? Or that workers in Italy must file monthly tax returns?
If not, you’re not alone - which is why it makes sense to hire a global mobility expert who knows the ins and outs of payroll compliance in each country.
3. They will ensure everyone is aligned
Significant organisational changes such as global expansion can result in ongoing conflict between different locations, especially when there are differences in language, times zones, and business practices to contend with.
However, if your global mobility programme is going to be successful, it is essential that your employees are all prepared and aligned. By outsourcing your global mobility management, you can ensure one point of contact, streamlining the process and ensuring that everyone is on the same page.
4. You can benefit from increased speed to market
Successful global mobility management requires a significant level of communication, which can often overload your internal HR teams and exceed in-house capacity. With so much to think about, enlisting the help of a global mobility partner can free up essential time, allowing your teams to focus on other business-critical issues.
When you work with an expert, you will have access to specialist support with everything from payroll to tax and even recruitment, freeing up your time to focus on the details of your expansion and ultimately resulting in an increased speed to market without any setbacks.
How activpayroll can help with your global expansion
Here at activpayroll, our expert global mobility team has helped many customers expand and realise their international ambitions, all whilst making sure that all compliance implications, obligations, and responsibilities are met in a timely and efficient manner.
So, whether you are a small organisation taking your first steps towards international expansion or are a multinational company, our industry-leading experience enables us to review your business structure and make recommendations to ensure that you maximise the efficiency of your international operations.