Why High Growth Companies Use PEO/ EOR Secondment for Business Expansion
Looking to expand your business into Asia? Links International’s Employer of Record (EOR)/ Professional Employer Organisation (PEO) Secondment services is the most flexible and cost-effective to grow your business and employees. The advantage of Links PEO/ EoR secondment services includes:
PEO/ EOR Secondment is Best Suited for Companies who:
What is PEO/ EOR Secondment Service and how can it help your HR team?
With EOR/ PEO services, employees are hired on your behalf under a professional employer and seconded back to you under a professional employer organization agreement.
This solution massively simplifies global company expansions – letting the you hire staff immediately. Perform sales activities, market research, and kick-off the company in a location without setting up an entity in a new country.
Our service helps you get a group of employees on the ground and running without tying your company down with different local business entity regulations. Get in touch today to learn more about our services.
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What to Expect from Links Asia Pacific PEO/ EOR Secondment Services
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Discuss terms of employment - Prepare employment contracts with contract staff
- Handle pension fund enrollments and terminations
- Administer employee/ employer contributions
- Professional recruitment and sourcing support
Discuss terms of employment- Provide workers compensation insurance
- Calculate employee salaries
- Maintain employee salary records
- Maintain and calculate annual leave
- Calculate employee statutory sick leave
- Maintain sick leave and unpaid leave records
Frequently Asked Questions (FAQs) in Singapore PEO
PEO is a flexible solution that allows companies to increase their workforce despite headcount and resource limitations. Good for companies looking to expand into new locations its benefits include:
- Short implementation process (ready in 48 hours)
- Cuts cost – lowers the barrier of entry into new markets
- Save time and money
- Ensures and maintains payroll compliance
- Creates smoother HR experience for employees
While staffing agencies and PEOs focus on workforce HR tasks, their services differ in some fundamental areas. With a staffing agency, you only outsource your hiring process and the associated tasks, with employees hired under your company’s entity. Under an EOR or PEO model, employees are hired under the vendor’s entity and seconded back to you. An added benefit is that administrative tasks, payroll, and compliance associated responsibilities under a PEO arrangement fall under the vendor.
Businesses expanding into Singapore have the option of doing so through PEOs/ EORs. They are widely used in Singapore and can handle all administrative and legal aspects of having a workforce from contract creation through to renewal or dismissal.
A professional employer organization (PEO) or employer of record (EOR) is an organisation that hires employees on behalf of the employer and seconds them back to the employer. In the case of foreign hiring, they help bypass certain barriers of entry including the need to set up a business entity and provide additional benefits such as managing employee payroll. PEO allows businesses to have someone on the ground in as little as 48 hours.
PEO in Singapore is a highly inexpensive solution for businesses looking to expand into a new location. Starting at US$350/Month, businesses are able to have someone on the ground within 48 hours without the need of setting up a business entity that normally requires greater in-country capital and is often costly to set up and maintain.
PEO/ EOR is best-suited for:
- Foreign businesses looking to expand their operations into Singapore
- Foreign corporations trying to test the local market
- Businesses operating in Singapore but want to avoid the cost of maintaining a Singaporean company
- Organisations planning to place or hire staff for a temporary project/market research in Singapore or within the region
- Local organisations looking to downsize but intending to retain a portion of the local employees
- Local companies facing a headcount freeze/limited quota
In most cases, payroll falls under the scope of PEO. This is especially useful for companies growing their workforce rapidly or are struggling to keep up with local regulatory compliance, CPF contributions and more.
Once payroll is set up properly payroll management (even for multi-country) is fairly straightforward. Professional PEO services ensure your employees are paid accurately, on-time and give companies the peace of mind that their business is fully compliant with local regulations around CPF contributions with dedicated help desk support.
Key aspects to consider when deciding on a PEO partner:
- Service coverage (location & scope)
- Information Security and data privacy
- Level of local knowledge and support
At Links, we offer flexible Asia payroll covering 19 locations across the Asia Pacific. Using a 100% in-country service delivery model, companies can safely rely on us to deliver their payroll. Feel free to contact us for more information
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