What is GEO and how can it help my business?
we know the risks of managing a growing business.
For companies that want to stretch their corporate presence beyond their home country, access richer talent pools, and tap into new revenue outlets, global expansion is often the way to go.
However, entering foreign countries can be a tricky process. This is why a growing number of businesses opt to work with GEO companies.
GEO is an acronym for Global Employment Outsourcing. These services are provided by international employment firms that can act as a legal Employer of Record (EOR) for a client company.
GEO services are designed to simplify the international expansion journey and help you navigate various administrative HR tasks when:
- Performing work in a country where your company may not be registered
- Setting up a new legal entity
- Understanding labour laws and tax implications in-country
What is an Employer of Record?
An Employer of Record is an organisation with the legal responsibility for labour compliance. This is especially important when operating in a country where your organisation does not formally have a local entity. An Employer of Record can support you with a range of tasks including:
- Payroll and tax administration
- Employee benefits
- Foreign exchange and in-country money movement
- Employment contracts
- Insurance
- Local laws
- Immigration or visa/work permit processing
Some of the remote working challenges an EOR can solve include:
- Advising on notice periods and contracts
- Assisting with legal documentation and tax filings
- Provide in-country worker support
Hire and manage remote teams with a GEO partner
Many things have changed since the Covid-19 pandemic and one of these is how the world has grown to embrace remote working.
For businesses that find themselves having to manage teams of geographically dispersed, international talent, working with a global employment outsourcing company can help to reduce the number of administrative tasks you’ll encounter. Regardless of your business size.
Working with a GEO company also helps companies expand their international talent acquisition efforts. An employer of record can help businesses hire from anywhere in the world – without having to establish a foreign entity.
Letting you hire the best people for the job without having to worry about geographic restrictions.