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6 Tips for Selecting a PEO Company for Expanding Your Business into Canada

Posted by Stacey Jones

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Aug 8, 2019 9:00:00 AM

A growing business is a good problem for any American business owner to have. To sustain that growth, you’re going to eventually look at expanding into new markets. You may even be thinking about crossing borders.

peo-company-for-canada

Canada is often the first stop on the list for an American company with international aspirations. It makes perfect sense - Canadians and Americans share a border, a language, and even a similar culture.

However, his thought process unfortunately leaves many American companies open to making missteps during their Canadian expansion. If you’re thinking about expanding your business into Canada, then finding the right partners to help you handle payroll, employee management, and more is key. A professional employer organization (PEO) could be the right partner for your business.

So how do you pick the right PEO company to team up with? These six tips can help you narrow down the field.

1. Think about What PEO Company Services You Need

Before you research PEOs, take a step back and think about what you need the most help with. Are payroll and tax deductions keeping you up at night? Maybe compliance concerns have you treading lightly as you head over the border.

Most companies need assistance with a wide range of tasks as they expand into Canada. The right PEO will be able to offer you a suite of services to suit your needs.

2. Create Company Profiles

As you search for the right PEO company, there are a few key questions to ask.

The first is about geography. What areas does the PEO serve? You may be planning to expand into one province to start, but what will happen if you later decide to set up shop in Nova Scotia, Ontario, and BC?

You need a PEO that operates from coast to coast. Picking a company that serves everywhere in Canada now will save you the complexities of switching companies later on.

You’ll also want to ask about company history. How long has the PEO been around? An experienced PEO will have the knowledge and expertise to help you succeed in the Great White North.

3. Ask about the Claims Process

Most PEOs will handle unemployment and workers’ compensation claims, so ask a few questions about your potential Canadian PEO partner’s process.

Do they offer comprehensive insurance for your workers? Do they have an in-house team that handles these claims and can ensure your company is in lockstep with the law?

Compliance can vary by province, so make sure the PEO company you choose is well-versed in the areas you plan to operate. This will save your company the headaches of trying to navigate compliance on your own.

4. Think about Benefits

Navigating health insurance in Canada is much different than it is in the US, so find a PEO who can help you offer the right plan for your workers. In many cases, health savings accounts are a great way to offer Canadian employees the supplemental health insurance they want and need.

Retirement savings plans are also important to Canadian workers, and some PEOs will be able to assist you in offering RSPs without the hassle.

5. Look at Payroll Services

Payroll is one of the biggest concerns for any company, whether they’re expanding internationally or not. Administering payroll in one country can be difficult enough.

A PEO can help you administer Canadian payroll the right way. Be sure to ask what the provider includes in their payroll services. Some will go the extra mile to help you meet all of your commitments with ease.

6. Get a Hand with HR Services

The biggest difference between PEO companies is often the extent of the HR services they provide. Look for a company that offers comprehensive coverage. You want someone to help you manage your Canadian employees and employment policies every step of the way.

Start your research today and get in touch with the experts. Discover exactly what the right PEO company can do for your expanding business.

 

 

Topics: PEO, PEO Services, Canadian PEO

Stacey Jones

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