EMPLOYERS OF RECORD SMOOTH THE PATH TO INTERNATIONAL EXPANSION, ACCORDING TO NEW CFO SURVEY
51% PERCENT OF SENIOR FINANCE EXECUTIVES REPORT THAT
LEGAL, HR, OR TAX COMPLIANCE CHALLENGES HAVE BEEN A SUBSTANTIAL BARRIER TO IMPLEMENTING THEIR INTERNATIONAL STRATEGY.
The CFO’s Secret to Global Business Expansion: Keep Costs Low and Grow Fast
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For many companies, expanding internationally has become less of an option and more of an imperative. But, while expansion can be exhilarating, it can also be fraught with challenges—especially for companies unaccustomed to navigating the legal, regulatory, and cultural terrain of an unfamiliar locale.
THE CFO’s SECRET TO GLOBAL BUSINESS EXPANSION:
KEEP COSTS LOW AND GROW FAST
Despite these challenges,
A Global Employer of Record takes care of payroll, benefits, taxes, and a variety of other human resources and compliance functions. The employer of record effectively becomes the employees’ primary employer, but just on paper and for tax purposes.
58% PERCENT OF SURVEY RESPONDENTS SAY
THEY ALREADY USE A GLOBAL EMPLOYER OF RECORD OR PLAN TO DO SO WITHIN THE NEXT THREE YEARS.
Why work with a Global Employer of Record?
Legal/HR compliance assured
Regulatory compliance assured
Leveraging local knowledge
Freeing finance resources for other purposes
Leveraging world-class capabilities
Many finance executives see using a trusted global employer of record as a best practice. 83% agree that working with a global employer of record is a best practice for relieving the management and administrative burdens of overseas business expansion.
HOW ARE COMPANIES GOING GLOBAL?
They’re using a Global Employer of Record.
Senior Executives report the biggest potential benefits organizations can realize from using a global employer of record are:
Compliance, Tax and Talent issues are top risks in overseas expansion.
Senior executives report the most critical issues for their employer of record to successfully address are:
Human capital/talent availability
Stability of political climate
Working capital efficiency
Sufficiency of market demand
Stability of currency
Ability to exit
If you need help with global expansion, get in touch with us today.
Download the report to get all the survey results—and the solutions.