International PEO in Sri Lanka
Sri Lanka As International PEO Partner
Before going in-depth on choosing a Sri Lankan company as a PEO partner, let’s take a quick look at what a Professional Employer Organization (PEO) is. In simple terms, a professional employer organization provides services such as payroll processing, tax filing, health/insurance benefits management, compliance assistance, and workforce management through a contractual co-employment agreement with clients. The PEO Company typically becomes the employer of record in your desired region. In a nutshell, a PEO company acts as the legal employer for your organization overseas.
A PEO partnership can give your organization access to a cost-effective and skilled talent base without the burdens of administration, compliance, and benefits management that can be overwhelmingly costly and time-consuming. When it comes to international PEO outsourcing in Sri Lanka, ExroAsia is one of the companies that is at the forefront of this emerging market segment. Partnering with a PEO allows your organization to expand globally and manage employees with great ease and effectiveness.
Reasons To Consider A Peo Partner
HR Compliance
Employment laws overseas can be complex and may change from time to time. Failure to keep up with these changes and comply with them can cost your business. A PEO can provide guidance or consultation through seasoned HR and legal professionals to help you avoid compliance-related mishaps and operate your business overseas without a hitch.
Expedited Time To Market
It could take months for you to expand into a new market as careful research is required before you can establish a presence and launch. A PEO company with local expertise can help you enter a new market within weeks.
The Flexibility To Enter And Exit A Market
Dissolving an entity can be costly and time-consuming. PEO companies give you the flexibility to get into a market within weeks and exit the market within a matter of weeks.
Save Time
It typically takes hours to research and establish a team with employment contracts. A PEO partner allows your organization to hire talent while they do the hard work with respect to documentation and other contractual obligations. Time is money in the present business landscape and saving time means saving money.
PEO companies help your organization avoid employment-related responsibilities and commonly associated risks that may arise when hiring employees. They help you enter and exit different markets with ease and great efficiency. PEO is a good strategy to access diverse talent pools and leverage subsidies and other benefits that emerging Asian markets have to offer. All of this at a fraction of the cost when compared with setting up a fully-fledged business presence in the region.
