Benefits of International Employee Leasing
Businesses nowadays have come to heavily rely on PEOs for their employee leasing services. With that being said, it has recently become more popular for businesses to adopt the method of international employee leasing.
The reason that businesses choose international employee leasing services is that there are so many benefits to it. If you are interested in knowing what these benefits are, then keep reading!
Benefits of International Employee Leasing
Before we get to the benefits of employee leasing, let us explain to you briefly what international employee leasing is.
International employee leasing is a way of hiring people that will allow companies to secure workers in another country by working with third-party organizations. With employee leasing companies, otherwise known as professional employer organizations (PEOs), many businesses can outsource all of their HR tasks and functions.
Some of these tasks include the following:
- Processing payroll
- Withholding or paying payroll taxes
- Maintaining worker compensation coverage
- Providing access to employee benefit programs
- Offering HR guidance
- Handling human resources tasks on your behalf
- Taking care of benefits admin
- And much more!
This is very similar to another method of hiring called “global employer of record (EOR).” However, PEOs (employee leasing service providers) are much more in use, as they have more advantages for businesses in general.
So, now that you know what international employee leasing is, let us get straight to the point. Here are the benefits of international employee leasing.
Benefits of International Employee Leasing:
Saves you money
Many countries abroad pay much less in wages than in the United States. That is why it is a desirable option for both the workers and employers.
As for the workers, they will still be making more than they do in their home countries. As for you, the employer, you will be paying much less for international workers than local ones.
It is actually very well-known that PEOs abroad are much cheaper and charge way less than PEOs in the US. The workers are also just as competent. So really, it is a win-win situation.
Gives you experienced professionals
There are some countries that are more specialized in certain fields than others. Keeping that in mind, there are a lot of countries that have much more experience in certain tasks than workers at home.
For this reason, many businesses look to outsource with an international employee leasing service provider.
Speedy process
This option for employment tends to only take a few days instead of months!
Flexibility
This option is also excellent for businesses and companies that are interested in global expansion as it adds flexibility for an international market instead of just a domestic one.
Compliance & IP protection
You will still have the option to hire international workers compliantly. You can also create, and put in place, employment contracts to protect your IP much more easily.
Now that you know the benefits of international employee leasing, you should take the time to look at this list we have made. It contains a summary of the best PEO companies that we would recommend.
Recommended PEO Solutions
There are so many different PEO or employee leasing options to choose from in today’s market. For this reason, it can seem hard at first to find a good one that suits your business. Although, with our help, the hard challenge of finding the perfect PEO will not be so hard anymore!
So, without further delay, here is our list of recommended PEO solutions that are perfect for businesses of any size to outsource with.
1. Paychex
Paychex is an excellent and well-known B2B service provider. They offer perfect PEO solutions to businesses and industries of all shapes and sizes. With their services, businesses will be provided with a lot of HR support and guidance, in addition to the following features:
- Employee Benefits and Administration
- HR Services and Tools
- Payroll Processing
- Time and Attendance
- Business Insurance
- Risk Management
- Learning Management System and Training
- Employee Performance Management
Paychex does not publicly advertise its employee leasing service plans and prices, unfortunately. Instead, they will provide custom quotes depending on the business's needs and size.
On another note, it also offers three subscription plans for its payroll software, which is a part of its PEO services. The payroll software plans are:
- Paychex Flex Essentials: $39 per month plus $5 per employee
- Paychex Flex Select: Quote-based
- Paychex Flex Pro: Quote-based
Each of these packages will come with a different set of services and features depending on how much you are paying. You may read our full Paychex payroll review to learn more about their well-rounded features!
2. BBSI
Coming in second place on our list of recommendations, we present you with BBSI! This company is an accredited ESAC professional employer organization (PEO). This means that they are experts in the field. They also provide a wide selection of great features. Some of these features include these:
- Payroll Admin
- Retirement Benefits
- Business Development Strategy
- Human Resources
- Risk and Safety
- Staffing and Recruiting
- Technology Solutions
- Worker Compensation
- And more
BBSI is also quote-based regarding its prices and plans. You can get in touch with the BBSI team to request a quote by calling them at 1-800-494-5669. You may also fill in and submit a form on their website and wait for them to contact you.
3. Justworks
Finally, the last PEO on our list of recommended solutions is Justworks. It is a great employee leasing company and also a standalone payroll services provider.
Some of their main employee leasing services include:
- Onboarding and hiring for remote teams
- Automation
- Employee self-service
- Taxes and compliance
- Benefits admin
- Payroll services
- Software integrations
- Contractor payment
- Employment practices liability insurance plans
- And more!
Justworks offers two flexible plans and prices for each business based on the number of staff. The plans listed here are perfect for small businesses with a range of 25-99 workers:
- Basic plan: starts at $44 per month per employee.
This plan will provide you with payroll services, benefits, HR tools, and compliance.
- Plus plan: starts at $89 per month per employee.
This plan comes with everything in the previous plan, in addition to access to dental, medical, and vision health insurance plans as well.