As 2016 begins, a lot of companies have begun considering expansion – finding new markets, plucking from fresh talent pools, diversifying their portfolios – there are a lot of great reasons to go ahead with it. That said, many businesses find themselves nervous about making the push since there's a great deal involved. New laws to learn, lots of paperwork and administrative duties to complete – it can be overwhelming.
Those difficulties, however, are precisely why more companies than ever have started turning to an employer of record (EOR) for assistance. When handed the alternative of practically starting again in a foreign environment, an EOR becomes an excellent choice for partnership and can help you expand your business more quickly, more efficiently, and with less bureaucracy. And we could all use less bureaucracy.
Skirt Tedious, Unnecessary Paperwork
One of the main benefits of an EOR is that by partnering with one, you're able to avoid registering your business officially with the Canadian Revenue Agency. In effect, your employer of record acts as the legal employers of any workers you want to hire and contracts them to you. Because they're an already established business in the region you want to expand to, they can operate legally and without consequence, ensuring you get all the workers you need. This means you can bypass a great deal of administrative tasks and start hiring almost immediately.
Since an EOR is responsible for your employees, they handle the payroll, human resources, insurance, and all other applicable concerns. You merely need to draft up an employer of record employee agreement and you're on your way to getting started.
Navigate Complex Laws
One of the trickiest and most stressful aspects of starting a business in a new area is learning what could be thousands of new laws. On top of human rights laws, you have myriad labour codes and employment regulations to learn, as well as tax deadlines that can vary province to province. In Canada alone, how much and when you pay your workers shifts from Alberta to Ontario, from Quebec to New Brunswick, and that can be especially difficult for smaller companies to learn when they have so many other things to be worried about.
EORs, on the other hand, are focused experts when it comes to Canadian law and have your back. By partnering with an EOR, you're also getting their full legal expertise and the best compliance possible to ensure you and your company remain safe. They stay up-to-date on all new laws and regulations as they update often, and are constantly training to become better and more efficient as time goes by. The money you save being able to avoid hiring a full legal team of experts is exponential and can always be put to better use. Being able to stay compliant for a lower cost though? That's irreplaceable.
Focus on Operations
As you can generally see, an EOR’s job is to ensure you have as few obstacles in your way as possible while you expand your business, because they know that changes that dramatic will always be a source of stress. Their aim is to reduce that stress and make everything smoother for you.
The most important thing for any business, in the end, is the ability to focus and be able to concentrate on their core goals. When you're muddling through business expansion, registration, learning laws, and struggling to understand the new environment you're in, that can severely halt operations and make it difficult to get back on track. An EOR understands that, and knows where your focus needs to be. That's why they go out of their way to ensure that your needs are being met and that you can do what you do best.