Expanding your business into a new country is cause for excitement. However, it also means you have a lot of work to do. To comply with Canadian laws and manage a new location, there’s a lot of homework that must be done on your end. Thinking about how you’ll manage it all seems like a daunting task. But it doesn’t have to be.
Working with a PEO service in Canada allows you to grow your business, while still focusing on the more important aspects of business. From payroll to HR, PEO services take care of the administrative tasks, letting you focus on your business and its success.
1. Efficiency in Payroll
Many businesses choose to outsource payroll to better allocate time. Managing payroll can be a seriously time-consuming task, especially when it’s added to an already busy schedule. PEO services in Canada can help you stay on top of your administrative tasks, while also ensuring your payroll is following federal and provincial laws. You can rest easy knowing your employees are taken care of and your business isn’t left at risk.
2. CRA Compliance
As mentioned above, it’s vitally important that your business complies with Canadian laws and regulations. The last thing you need is a lawsuit. Something as simple as failing to obtain an employee’s Social Insurance Number can get you a $100 fine for every number you don’t try to get. Navigating the world of these regulations can be extremely confusing. Limit the frustrations and work with a PEO service in Canada.
3. Hiring and Training
Recruiting employees is one thing, but training them is completely different. Each takes time and commitment, adding to your schedule and your responsibilities. With a PEO service in Canada, you can hand your HR responsibilities over, letting yourself focus on more important business functions. Employees will be trained and HR duties will be handled entirely from Canada.
4. Happier Employees
Studies show that happy employees are 12 percent more productive, creative, and willing to work collaboratively. Having efficient payroll services and easily accessible HR personnel all contribute to a positive working environment. Everyone wants to be paid on time and have their concerns heard. Ensure your employees are properly cared for by working with a PEO service in Canada.
5. Get Moving
It’s no surprise that expanding a business to another country can take time. Sometimes it takes years! Bypass the slow timeline and work with a PEO service in Canada. As experts in the field, these companies can help you with every aspect of expanding your business. From recruiting new employees to setting up insurance and bank accounts, you can sit back and relax.
6. Saves Money
Hiring in-house professionals to handle HR and admin duties costs money. It’s often expensive and isn’t something all businesses are capable of handling. In fact, many businesses unknowingly lose money due to not properly filing taxes, or through the benefits they offer employees.
PEO services in Canada can eliminate some of the costs associated with these tasks. From the cost of hiring, employee benefits, and 401(k) plans, PEOs work to get your business the best deals possible.
7. Reduces Risks
One of the biggest benefits of working with a PEO service in Canada, is the elimination of risk. From underqualified staff, to new guidelines and regulations, there are many places where your business could fall into trouble, such as the stressful audits or lack of CRA compliance. By working with experts in the field, you can work stress-free, knowing the growth of your business is being handled in the most secure way possible.