Most business owners and managers know the importance of finding qualified help to support their business ventures. No matter what you wish to accomplish, finding the right partner is a large part of success.
If you want to expand your business into Canada, finding the right partner for your human resources, payroll, and compliance is key. Hiring the right people, ensuring they’re properly compensated, and ensuring you’re complying with legal requirements go a long way to helping you find success in Canada.
Who Should You Work With?
One question you likely have is who you should work with. It can be confusing to enter a foreign market. Sometimes, different terms are used. The kinds of vendors you’re used to working with may be called something else, or they may not exist.
In Canada, American companies should seek to work with employers of record (EORs) often called a professional employer organization (PEO). Canadian employers of record are very similar to PEOs in the U.S. They help you administer your human resources in Canada. Before you team up with a Canadian EOR, you should know a few things.
Going Beyond HR
Most American companies decide to work with a Canadian EOR for their human resources activities. This can include hiring, administering payroll, monitoring compliance, dealing with benefits, and more.
Canadian EORs can also offer you some surprising benefits. They may be able to assist you with record-keeping and during audits. They may also be able to advise on strategic decisions such as company structure and tax efficiency. They might also be able to help you with paperwork if employees need to move between Canada and the US.
Preparing for Success
The reason most American companies work with a Canadian EOR is to ensure their Canadian operations are successful. Your business won’t be very successful if you can’t hire the right people to staff it.
It also won’t be very successful if you happen to run into compliance issues during hiring. Working with the EOR is a step toward cementing success for your Canadian operations.
A Canadian EOR can also offer you excellent advice for your firm. Your HR staff are likely well-versed in regulations and compliance in your home country. They might be less knowledgeable about Canadian laws and regulations.
This is where an EOR can step in. Not only can they help you administer your policies, but they can also offer advice on how to stay in step with the law. They may be able to offer insights on revisions to your policies or new policies you’ll need to put in place to remain compliant. They can then help you execute them.
Finally, they can also help you navigate the nuances of Canadian requirements and differences between provinces and territories.
Another way Canadian EORs can assist American companies is by providing the infrastructure they need on the ground in Canada, right from day one. They’ll support you with an expert team of knowledgeable staff, banking and insurance infrastructure, and the right technology and tools to make your operations in Canada seamless.
Not All EORs Are the Same
There are many EORs out there, and not all of them are the same. Some EORs won’t meet your needs as a business. They may be too small or too large. Their service offerings may not meet your needs. Instead of partnering with an EOR that doesn’t fit your needs, keep shopping around.
The right Canadian EOR is out there. With some good research, you’ll find the perfect partner to help your Canadian operations achieve success.