The International Professional Employer Organization (PEO) sector, often known as the “PEO industry” is widely adopted by businesses aiming to test their business in India. Its rising importance is attributed to the guidance and services it offers to a company’s growth on Indian soil.
PEOs or International PEO companies in India provide customized cost-optimizing and high-performance solutions for human resource (HR) services, especially to small & medium businesses (SMEs). By outsourcing your key administrative and management requirements to the PEO service organization, any SME can minimize their risk and liability while reaping the benefits of collective bargaining on compensation, payroll, and other human resource costs.
Are considering expanding your business horizons? Then an International PEO service organization can be your one-stop shop for all your business requirements in India. Your PEO Provider will take care of these requirements and all that is left to do for you is to supervise your remote teams as needed. Here are some of the advantages you could benefit from Remunance, an experience International PEO service organization in India.
Taking advantage of India’s surplus talent pool
Indian tech professionals have made a mark on the world stage, leading iconic organizations like Google, Facebook, and Twitter to name just a few. The number of high-caliber Indian professionals is growing at a faster rate since 2014 after the Hon Shri Narendra Modi-led BJP (Bharatiya Janata Party) has come to power. It has introduced huge reforms since then. This is evident from the fact that India’s position has gone up 79 positions from 142nd (in 2014) to 63rd (in 2022) in the ‘World Bank’s Ease of Doing Business Ranking 2022.
Recognizing this, Remunance established an in-house team of recruitment specialists. Our expert team helps you build your remote teams without the need for setting up a business in India. We source professionals from 7+ channels and portals like Naukri.com and Indeed.com to access the high-caliber talent and expertise for your operations.
As one of the best PEO International PEO, Remunance provides end-to-end HR service to your staff members including
- sourcing talent
- onboarding new staff member
- transferring employees from your other entities to Remunance,
- setting up their bank accounts
- conducting timely and accurate payroll
- calculating employee’s taxes
- taking out their insurance and administering benefits
You don’t have to do any of that, You simply need to work with them on your projects.
Get hassle-free remote teams
One of the major PEO benefits in India is an opportunity to tap a larger diverse talent pool by remote hiring. Unlike the traditional work setup, building remote teams in India promoted the notion of flexibility. Your remote teams can focus on productivity and completing tasks effectively and not worry about confining to a specific place.
PEO services organizations offer various roadmaps for remote hiring and building your remote teams. You can convert the entire team of contractors or outsourced workers to your in-house remote team. In any case, an Employer of Record or an International PEO is fully equipped to source talent and build a completely new remote team in India.
By outsourcing human resources to Remunance, there’s no need for you to form your own legal entity in India. Your legal compliance perils are gone as Remunance becomes the “legal employer” for all your employees based in India. This means you get a remote team but Remunance is responsible for everything except project execution and management.
Compliance is not your responsibility any longer
One of the most significant advantages of using an International PEO in India is that it will ensure that your company complies with local laws and employment regulations. PEOs usually employ regulatory experts who can assist businesses in avoiding huge fines. They are knowledgeable about the law governing tax rates and reporting requirements, insurance plans, workers’ compensation, hiring practices, and HR regulations.
As your legal employer, Remunance undertakes all these HR admin tasks. We ensure that tax is deducted each month and paid to the appropriate authorities on time. Remunance provides the necessary compliance support to many of your legalities and employee needs no matter where the employee is located. Having the snafu taken over by Remuannce, gives you the freedom and the peace of mind to focus on your high-performance, motivated remote teams and their operations.
High Employee retention
One of the biggest challenges in many small and medium-sized businesses remains to be retaining top talent.
Structure and fit are critical components of a work environment. Finding the right fit for your organization, having a dependable HR structure, and having effective employee communication all help to boost morale and employee satisfaction. Our HR professionals can help you create employee handbooks and procedures.
Remunance is an experienced best-practice employer who knows what it takes employees to stay loyal to businesses. Our remuneration structure, benefits, and processes are aligned to ensure staff stays motivated and focused on delivery. This creates superior working relationships and happy employees. Our PEO services can help with retention and cut some of the costs.
Cost savings and ROI from International PEO services
Expansion of a business into another country can be costly. Using a PEO can assist you in entering the Indian marketplace without wasting resources on costly and time-consuming avenues. It will assist you in creating monthly invoices for employee salaries as well as managing expense reimbursements and management fees.
Remuance’s PEO service has an immediate impact on your business as it
- lowers your operating costs
- increases your efficiency, and
- increases your productivity as it enables you to hire more staff for the same salary budget.
This is a cost-effective alternative to using freelancers because your staff has a fixed salary. Their compensation does not depend on the scope of work.
Remunance, your success partner
Since August 2020, Remunance has specialized in providing PEO services to organizations located outside of India. It has over 70 customers as of this writing from various countries around the world.
Remunance is your long-term partner when you use our PEO service. We handle all your employee admin. We also have specialized teams that handle IT support, Facilities Management, and selected business concierge services. This is to ensure support to your employees through all stages of their employment lifecycle.
By partnering with Remunace, you can ensure compliance with all the local laws and 360 support and guidance in all the non-core business activities from HR to finance. With our team of experts and transparent solutions, we can get your team operational on Indian soil in no time, while you can focus on your core business operations in India.