Forget your local talent shortage. Focus instead on the new business recruitment gold-rush – International Talent. You can find it everywhere. Literally. And with one smart move, minimal effort and just a little preparation, you can start tapping into it today. Go ahead. Reap the rewards!
It’s no myth. There is a talent shortage. Worldwide. According to a recent Manpower Talent Shortage Survey 2022 three out of every seven companies globally report having difficulties hiring the talent they need.
Adding to every employer’s nightmare are things like a skills shortage, the Great Resignation and the relentless remnants of Covid-19; all conspiring to prick your potential and hinder future business growth.
Worse still, according to another recent study by Korn Ferry, the global talent crunch could continue, resulting in a talent deficit of more than 85 million workers by 2030.
But there is one bright shining light on the horizon.
In order to take full advantage of the global talent pool and all the advantages that remote working provides, saavy businesses today are making the logical move to partner with a specialist workforce management and recruitment partner like CXC Global to establish an Employer of Record service.
Engage international talent quickly with an Employer of Record service
An Employer of Record (EoR) is effectively an organization that takes over all the legal and administrative responsibilities associated with employing staff on your behalf; including onboarding and payroll, taking care of tax issues, and setting up your employees’ statutory local benefits. With extensive local knowledge, an Employer of Record can also support you with foreign exchange and in-country money movement, insurances and arranging work permits and visas for expat employees.
In today’s post-COVID world, where remote working is already the new norm, an EoR structure will become an even more valuable asset for your business, enabling you to employ anyone from anywhere. Fast as lightning! So you’ll never have to say no again to top talent unable to relocate.
An Employer of Record also allows you to:
Action legal payroll management abroad: Hiring remote workers comes with legal implications, and can be complex. Taxation rates may differ significantly and it can be challenging to keep track of all legal requirements. EOR firms stay up to date with regulations to ensure their clients observe compliance with state regulations concerning taxation, staff welfare, and retirement benefits.
Enables immigration compliance: Your hiring activities may necessitate global travel to and from multiple countries. Visa applications arevnot always a straightforward, and utilising a local EOR who understands their way around immigration laws ensures you do not get into trouble with your host country.
Facilitate employee onboarding: Finding promising talent is one thing but orientating, training and onboarding can be difficult. EOR companies can help ensure a smooth and satisfactory employee onboarding process.
Engage new talent compliantly
In addition to recruiting new staff, you also need to compliantly hire and classify them. The penalties for misclassification vary from country to country and penalties are significant for non-compliance.
At CXC Global, we are fully aware of the critical importance of compliance management and that’s why it forms a key part of the workforce recruitment and management services we offer. CXC Comply, our Global Contractor Vetting and Compliance Technology Platform is specially designed to assist with all the complex classification issues involved with engaging contractors.
Its impressive functionality currently services over 50 countries around the world, and broadly encompasses three key areas of compliance:
Worker Classification: CXC Comply’s classification assessment and vetting process ensures proper classification of independent, freelance, sole trader, limited company and corporate contractors. It also mitigates any risks to your organisation by ensuring they adhere to local classification guidelines for taxation purposes and are set up properly and working in compliance with local and in-country laws
Right to Work: Right to work requirements vary in every country. CXC Comply’s right to work assessments and digital vetting ensures the contractor that you want to engage has the proper work authorisation in the country or region where the work will be performed by verifying domestic right to work eligibility and proper setup within their country’s schemes.
Background Screening: CXC Comply ensures your contingent workers are properly checked and vetted by facilitating checks for issues such as criminal checks, education checks, work verification, international sanctions and credit checks.
In our unstable and unfolding new world, partnering with an international workforce specialist to properly engage global talent quickly and compliantly makes a lot of sense.
CXC Global has been providing and supporting organisations with recruitment, hiring and onboarding, immigration, tax, employment advisory and administrative services for over 30 years. With offices and services extending to over 50 countries, we have the resources and scale to help you with engaging talent from all over the world. Why not contact us today to find out more?
