Behind the rose-tinted view of global expansion, lie more ghastly tales, involving a multitude of country- specific laws and regulations. Fail to abide, and you’re risking drawn-out litigation processes, high penalties and monetary costs, permanent reputational damage, and even jail time.
Author: Your Tech HR
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SonicWall has seen a number of organizational changes throughout its 30-year history, from its early days as an innovator in SMB network security to its decade as a public company, its five years as a part of Dell and the past five years of private ownership following divestiture.
When a company needs to meet the demands of industry leaders in different sectors and countries, having the right employees is not a luxury, it’s a necessity. So, when DevonWay was tasked with relocating a valued employee from the U.S. to the UAE, a country where DevonWay did not have an entity, they had to find a cost-effective, efficient solution.
A diverse, distributed team adds efficiency, improves the overall chances of success for a business, and most importantly, adds another measure of resilience. And in times of crisis and uncertainty, it’s resilience that helps businesses come out stronger on the other side.
According to the Future Forum research, 72 percent of employees said they never want to go back to the traditional way of working and expect a hybrid-remote office model going forward. Research has shown that when executed correctly, hybrid working models can allow companies to recruit better talent, achieve innovation, and build a flexible, productive future.
Staying compliant is critical for long-term success. Companies that grow internationally without prioritizing compliance are sure to run into problems. From entity setup, to hiring, financial reporting, and staying on top of changing regulations, compliance plays a key role every step of the way.
Employee vs. Contractor: Compliance Is Key When You Hire Globally . Is your company deciding between hiring international employees or contractors? It’s vital to know the difference between these two types of workers to classify them correctly, avoid penalties, and protect the intellectual property generated for your company.
CFOs See an Optimistic Future Through Adopting a New Global Hiring Approach
That is one finding of a survey conducted by CFO Research of Industry Dive and Globalization Partners polling senior finance executives from companies in North America, Asia-Pacific, and Europe.
Are You Adding International Team Members? If a global hire is on the horizon, now is the time to study up on what you need to know. From creating a compliant employment contract, to providing competitive benefits, to managing cross-culturally, this is the guidebook to help you get started.
You’re ready to make your candidate an offer, but if you don’t have an entity set up in the country where they are located, you can’t run payroll. And setting up an entity takes time and money.