How to grow your business with remote staff

How to grow your business with remote staff

How to grow your business with remote staff

Here we take a look at how you can make use of remote staff to grow your business.

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Expertise from anywhere in the world

Perhaps one of the most important advantages of working with remote staff is the fact that you are opening up the available talent pool to your organisation. Modern businesses depend on the talents and skills of individuals, and if you are only hiring in your vicinity, you are limiting your access to potential key staff members.

Allowing staff to work remotely means that you can hire anyone, as long as they are able to carry out the work. This gives you greater possibilities in terms of hiring the staff that you need in order to grow your company.

More affordable

Sometimes it is not just about getting the right staff for your business – it is about doing it at the right price. Once again, limiting the area in which you search for staff can mean a shortage of people with that kind of expertise in the area. And naturally, in this scenario, this means that you will need to pay more for their talent.

It is the case that the majority of the expenses for any business come in the form of staff costs. So, prohibitively expensive staff can be a real challenge for business. But hiring remote staff can help to make employees more affordable. Remember that business that want to operate with remote staff are still in a minority so remote workers are often happy to sacrifice slightly more money for the greater freedom of working with a company that allows them to do their job remotely.

Keep your business costs down

Of course, it’s not just the cost of the employee that is expensive to your business. Having staff work at your premises necessities having that premises in the first place – another major cost to companies is their property. It may be the case that you need (or want) to have a small office presence, but that growth and hiring more staff would mean moving to a larger, more expensive premises.

In this example, growing your business with remote staff means that you can bring in the personnel that you need without having to invest in the other major expenses.

EOR: the best way to hire remote staff

The COVID-19 pandemic has been truly devastating for businesses of all sizes. Organisations are facing challenges that are completely unforeseen and unprecedented – so perhaps it is not surprising that many are struggling. But the truth is that just as with any else, businesses must go on, and must continue to look for solutions and one of the solutions is to hire remote employees anywhere in the world. Did you know that you can do it in a legal way? You don’t know how to do it? We can do it for you: Contact Us

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What is an Employer of Record?

What is an Employer of Record?

What is an Employer of Record?

The solution to hire people from all over the world. Do not miss this article!

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What is a Employer of Record (EOR)?

Employer of Record is a company that takes on all employer-related responsibilities for small to large enterprise-sized businesses. The Employer of Record handles state-specific onboarding, payroll, taxes, payroll compliance, benefits administration, unemployment claim reporting, and other HR-related tasks.

Some important things to have in mind…

1. Full legal employer: An Employer of Record is liable for all employer-related responsibilities—from benefits and payroll to insurance and taxes. Working with an Employer of Record allows you to focus strictly on day-to-day oversight of your workforce.

2. State registration not required: With an Employer of Record partner, your company can expand its talent pool and compliantly recruit talent in any state—without going through the time-consuming business registration process.

3. Compliant, cost-effective benefits: When you bring on talent in new markets, your Employer of Record partner ensures you provide benefits that adhere to local regulations. An Employer of Record pools your talent with workforces from other companies, so you get access to lower-priced group rates from insurance providers.

 

What is a Professional Employer Organization (PEO)?

A PEO is a company that partners with small and medium-sized businesses to provide comprehensive HR services, including payroll processing, benefits administration, regulatory compliance, tax filings, and more. A PEO acts as a company’s outsourced HR department so internal teams can focus on their core responsibilities.

Some important things to have in mind…

1. Co-employment: When your company partners with a PEO, you are both legal employers of your workforce. However, you remain responsible for the day-to-day oversight of your talent.

2. State registration typically required: Working with a PEO usually means you must register your business in every state in which you hire.  As a result, it makes the most sense to partner with a PEO when you plan to hire in states where you’ve already registered your business.

3. Boosted benefits packages: A PEO helps small and medium-sized businesses provide the same robust employee benefits plans offered by larger companies. Like an Employer of Record, a PEO partner pools your employees with those from other organizations to qualify for more favorable group rates from insurance companies.

The critical difference between an Employer of Record and a PEO: An Employer of Record is the full legal employer of a company’s distributed workforce, while a PEO remains a co-employer.

If your goal is to quickly and compliantly hire top talent no matter where they’re located, partnering with an Employer of Record gives you the flexibility to easily enter to any country.

Working with an Employer of Record also gives you peace of mind knowing that experts compliantly handle every HR and employer-related responsibility, so your teams can focus on their core responsibilities. As a result, Employer of Record providers reduce the time, hassle, and cost required to build a distributed workforce across the world.

Are you interested in expanding your work team?

Roots EOR brings your company a turn-key solution to allocate staff abroad to be compliant with local labor requirements without forming a local legal structure. Contact Us

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Hiring international workers?

Hiring international workers?

Hiring international workers?

Roots EOR makes it simple! Let’s look at the following article!

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While everyone is still coping with the effects of COVID and the global response to the pandemic, there are some results of the past two years that are clear. One is that remote work and the shifting worldwide workforce is here — and it’s here to stay.

Almost three out of four companies report they plan to shift some of their employees to remote working permanently. Meanwhile, up to 30 percent of the workforce will likely be working remotely by the end of this year. And for the most part, both employers and employees are saying that they see benefits from this new arrangement.

Remote working makes the at-home workforce work

You’ve probably seen the hoops your company’s HR pros have to jump through when all your co-workers are stationed in one place. Now, imagine the hurdles they face when your co-workers work in other time zones. Or even, other nations.
Roots EOR does everything for your company: bringing together tools for overseeing payroll, benefits and formalities.

Roots EOR can simplify the hiring and staffing process for any company with remote staff, it’s particularly geared to help firms navigate through the complex world of international labor and hiring.

Globalize your workforce with Roots EOR

Whether firms want to better organize their current workers or open the doors to international talent. Roots EOR has optimized the process for adding workers in foreign nations to a team naturally.

Typically, the process of hiring foreign workers would be a long, laborious one, requiring a company to set up a legal entity in the worker’s own country so they could get paid with all applicable taxes paid and local laws observed. If that sounds like more work than most companies would want to do just to onboard a foreign worker…you’re right, which is why most haven’t.

Roots EOR handles all international compliance and HR responsibilities. With representatives all over the world, Remote leverages in-country experts to make sure employees you hire are paid in their local currency, enjoy benefits and perks befitting their nation, and support all HR issues from salary changes and rewards to discipline and offboarding when needed.

hire anywhere

We can make remote work even simpler. How? Contact Us

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Changes in the way of working and hiring

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The future of work: remote working in 2022

The future of work: remote working in 2022

The future of work: remote working in 2022

How will companies adopt and adapt their processes for remote work this year

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Every year is a new challenge for companies. Here we mention three predictions related to work:

Prediction #1 – Remote work will become normal for the majority

Companies that don’t open up to remote working, or that insist on restrictive working models, will face problems in hiring and finding the right people.

In 2022, this will carry on. For those that invested early in supporting remote work, they will see the problems settle down earlier compared to those that either have not invested or did so half-heartedly. The challenge will be not so much the technology to support doing all this securely, but how to maintain the right processes and team culture over time. When people are not physically working alongside each other, and when communication is all asynchronous, it can be more difficult to keep the right culture in place.

Prediction #2 – Onboarding and offboarding will have to change

With all this hiring and with more churn in staff, there will be more pressure on how to manage those employees and get them set up properly. Provisioning services and applications will get more attention from both the tech team and from HR, as employee experience goes from a minor issue to one that affects long-term retention of staff.

In practice, companies will struggle more with how they manage removing access and managing assets. Getting employees through the front door will get the most attention – after all you never get a second chance to make a good first impression – but managing how to get assets back will need just as much work.

Automating the deprovisioning process will help, as access rights can be tied to the device and then triggered as part of returning equipment. Doing this remotely will get more attention too, as employers will not want to risk shipping back devices that are not secured properly. Taking care of devices will be problematic if it doesn’t have good insight into what users have in place, how they use those devices, and how they can be managed over time.

Prediction #3 – How we measure work will have to change

When everything is working well, technology can help companies big and small to be more effective. However, what does effective support look like when employees are remote for the majority of the time? How do companies define the services that they need, and track their results?

In 2022, companies will have to think seriously about how they measure work and results. The traditional approach of tracking hours in the office is not appropriate – you might say it never was, even before COVID-19 – yet many managers currently don’t feel comfortable or able to adopt results-based approaches instead. Overcoming this mindset is essential.

During the next year, we’ll see two kinds of approaches – those companies that work out how to measure employee performance by results that they deliver over time, and those that try to keep that old oversight model in place. For the first group, the challenge is how to ensure that they get the right level of productivity in place and that employees are challenged rather than overworked. For the second group, the biggest challenge will be retention. Too much oversight will lead talented staff to look elsewhere.

The goal should be to work in the right way, providing strong support and with a good company culture in place in all interactions, regardless of how those interactions take place. At the same time, teams will have to look at how their processes function when work can be asymmetric and asynchronous, rather than tied to specific business hours. In the year ahead, this will be what many IT teams will have to work on internally across their own processes, and they will have to take those lessons out to the wider business too.

Remote work is here to stay

Knowing how to keep your work structure strong with employees working all over the world is critical. In addition, it is also essential to attract new talent. Do you want to hire employees from all over the world but don’t know how to do it? Contact Us

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Two main reasons why workers will be flush with job opportunities in 2022

Two main reasons why workers will be flush with job opportunities in 2022

Two main reasons why workers will be flush with job opportunities in 2022

Americans are quitting their jobs in record numbers, and economists say the Great Resignation is likely to keep up well into 2022.

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In this article we present two main reasons why economists believe workers will continue to have their pick of jobs in 2022, and what it will take for more Americans to rejoin the labor force.

Demand for goods will remain high

Retail sales were higher than expected in October, according to the latest report from the Commerce Department, meaning that Americans are buying a lot of stuff. Businesses are doing what they can to keep pace with consumer demand, especially heading into the holiday season, by hiring workers to produce, transport and sell more goods.

But industries with some of the highest numbers of job openings are experiencing the highest turnover, especially across retail and manufacturing, Pollak says. This kind of labor crunch incentivizes businesses to do everything they can to attract and retain workers through better pay, perks and working conditions.

Demand for services is recovering

Covid-19 pushed many in-person events from 2020 into the next year, and this summer’s contagious delta variant pushed additional 2021 events into the future. With improved vaccination rates and pandemic conditions in general, Pollak says a bunch of events from the last two years will finally happen in 2022.

That means a sharp rise in vacations, concerts, weddings, conferences and other live events — as well as a need for businesses to staff up for all these occasions.

As people return to daily public life, the need for workers across sectors like transportation, leisure and hospitality, and other services (which ranges from auto workers to hairstylists to laundry workers) will rise. Some reports estimate the infrastructure bill will help create 1 million jobs over the next five years, with the most immediate gains in construction.

don’t miss out on new opportunities

As we can see, the labor demand will be on the rise and there will be many options that employees will have when choosing where to work. Even today we know that it can be done remotely from anywhere in the world.
If you are the owner of a company and you are interested in hiring employees from other countries and you don’t know how to do it, contact us! We take care of doing it in an easy, fast and simple way. Contact Us

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Hiring Colombian employees

Hiring Colombian employees

Hiring Colombian employees

Do you want to know how to hire them without bearing the costs? Read this article.

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Low wages and modest annual leave requirements make Colombia an attractive hiring destination for international companies looking to grow their remote teams. With an average weekly working time of 48 hours, employees in Colombia are used to working more than employees in other countries and are generally known for their good work ethic.

 

Working time

An employee’s standard working week should not exceed 48 hours, i.e. eight hours per day over a six-day workweek. Every employee must have one day off per week which is usually Sunday but may be shifted to another day if detailed in the employment contract.

 

Overtime

Overtime work must not exceed two hours per day, i.e. twelve hours per week, and must be paid at a rate of at least 125% for daytime work and 175% for work at night or on public holidays.

 

Payroll

Colombian law distinguishes between three different types of payment: minimum wage, ordinary salary (payments higher than the minimum wage which do not include any additional payments such as bonuses or other) and integrated salary (fixed monthly salary which is higher than ten times the minimum wage and set at a rate 30% higher than usual, thus including all additional payments such as bonuses).

 

Minimum Wage

In 2021, the national minimum wage in Colombia is set at COP 908,526 per month (not including transportation allowance).

 

Sick Pay

If an employee is unable to work because of sickness or injury, the employer is obligated to provide sick pay equal to the employee’s usual wages for the first two days of absence. Starting with the third day of sick leave, sick pay is covered by Social Security at a rate of 66.67%. However, payments are limited to 180 days.

 

Bonuses

Except for those earning an integrated salary, employees in Colombia are entitled to a 13th salary (Prima de Servicios) which is to be paid out in two installments, one in June and the other one in December.

 

Taxes and Social Security Contribution

Employees and employers in Colombia are subject to the following tax and social security contribution rates (as of 2021):

EMPLOYER
31% corporate tax rate
19% VAT (standard rate)

EMPLOYEE
Individual income tax rates range from: 19% to 39% *

SOCIAL SECURITY
Around 30% of employee salary, of which:

  • 8.5% health insurance
  • 12% pension plan
  • 9% diverse social security funds (certain contributions only apply to income exceeding ten times the minimum wage)
  • Plus 0.522% to 6.96% for coverage against professional risks.

Please note that social security contributions for integrated salaries are calculated based on 70% of the employee’s income.

8% – 9% of employee salary, of which:

  • 4% health insurance
  • 4% pension plan (additional 1% on monthly income exceeding COP 3,634,000)

Employee Benefits

Leave such as annual leave, maternity, paternity, etc.
30 days of salary during the first year and 20 days of salary for every year thereafter, for termination of the contract without just cause.

Hiring in Colombia?

Not sure if you should start with a contractor or go ahead and hire a full-time teammate in Colombia? ROOTS EOR makes things easier for you! being able to hire employees in Colombia without having to bear the cost. Contact Us

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