Business.com |
- Most Millennials Left Vacation Time Unused in 2018
- Why Digital Marketing Is Essential for Startups
- How to Monetize Your Tech Knowledge
- Open Office vs. Private Office: Which Is Right for Your SMB?
- 9 Common Business Lawsuits You May Face
- Expand Internationally By Leveraging Local PEO Services
| Most Millennials Left Vacation Time Unused in 2018 Posted: 10 Jul 2019 01:43 PM PDT 
The time for summer relaxation is here, but if you're in the U.S., you're more likely to be reading this surrounded by the din of co-workers chattering and typing on their keyboards than by the sound of waves crashing on a sun-drenched shore. Recent studies have shown that American workers either don't have or don't take their paid time off (PTO), but a newly released study suggests that Americans would actually rather work than use the free time available to them. Conducted earlier this year by Sleep Junkie, the study surveyed 1,002 currently employed U.S. workers who had taken a vacation in the past year. The goal, according to researchers, was to find out how Americans viewed vacation time, how they used it and what keeps them from taking a break in the first place. Leaving vacation time on the tableAmericans do not get the same amount of PTO as their European counterparts. According to the Organization for Economic Co-operation and Development (OECD), Spanish workers have a statutory minimum of 22 paid vacation days and 14 public holidays, with more paid days off potentially added on by their employers. According to data from 2018, America is the only advanced economic power that does not guarantee paid vacation time for workers. Despite the fact that getting any PTO from employers is a privilege in the U.S., 68% of American workers left unused vacation time on the table, according to Sleep Junkie's latest findings. Blue-collar workers were 18% more likely to have unused vacation time by the end of the year than white-collar workers. Women were 11% more likely to let PTO go unused than men, and 69% of millennials reported having unused vacation days last year. On average, American workers who received PTO generally had a yearly allowance of 14 days but only used 10. Researchers said the need to plan ahead for time off could be a major stumbling block for workers, as respondents asked for vacation time approximately 33 days in advance. Some workers who tried to take time off saw their requests denied by their superiors. Researchers said this happened to nearly 72% of respondents in 2018. Though many American workers have no PTO, a select few – approximately 1 in 10 – work for companies that offer unlimited vacation time. While this may sound like paradise, researchers found that employees with this benefit take even fewer days off than employees who have limited PTO. Researchers believe some respondents may have felt "pressured to take comparatively fewer vacation days than their co-workers to get ahead," while others "may respond to the lack of limit with a sense of guilt when asking to take time beyond the standard two weeks." Vacationer's guilt and working while awayIf you've ever found yourself stressing about your return from vacation, your mind constantly wandering to your surely overflowing inbox and the long list of tasks that await you back at the office, researchers say you're not alone. According to the survey, just over 22% of respondents said they would rather work than go on vacation. Of that 22%, nearly 46% said they felt that way simply because they "preferred to work," while 44% said they "had too much work" to take off and 39% said they "needed the extra money." Among millennials, the number of individuals who prefer to work rather than go on vacation rises to approximately 25%. According to researchers, 45% of respondents said they worked harder leading up to their vacation, while 38% said they worked longer hours leading up to it. The report said those percentages could be the result of people either not wanting to fall too far behind in their responsibilities or not wanting to feel guilty for leaving the office. Speaking of guilt, which 20% of respondents said they felt for taking time away, that general feeling may also cause some people to work when they're supposed to be relaxing. According to researchers, 21% of people admitted that they spent some of their time off doing work. Furthermore, 33% of people who'd taken a vacation in the past year said they checked their work emails while they were away. Returning to work refreshedDespite the stress American workers feel about taking their PTO, people generally come back from vacation feeling reinvigorated. Nearly 53% of people said they returned to work feeling relaxed after taking some vacation time, while 37% said they felt energized and 31% said they were optimistic. In addition, 83% of respondents reported feeling productive once they came back. Researchers believe those feelings of being energized and relaxed stem from getting better rest. Approximately 43% of respondents said their rest improved while they were on vacation. That could stem from the fact that the same percentage of respondents said they experienced more sleep, even though 35% said they went to bed later and woke up later. |
| Why Digital Marketing Is Essential for Startups Posted: 10 Jul 2019 07:30 AM PDT  The business.com community is a place where business owners and professionals come together to learn from each other. Those looking for advice can solicit it from their peers, while others are able to share their extensive expertise with those who need it. It's that peer-to-peer give-and-take that makes the community such a valuable part of business.com. Business.com has more than 190,000 members from around the globe. The community thrives because of our members' eagerness to drive conversations, whether through asking questions, answering questions or contributing articles. Each month we spotlight one of our community members for their contributions. This month we are recognizing David Reimherr, founder of Magnificent Marketing. Digital marketing advice for SMBsReimherr contributes to the business.com community in several ways. Specifically, he shares his digital marketing expertise by answering questions from other community members and submitting articles via business.com's contributing author program.  One question Reimherr weighed in on was how much a business should pay for online advertising. This is a common question many new business owners struggle with. Reimherr told the community member there isn't really a set dollar amount that businesses should expect to pay. Instead, he suggests experimenting with targeting to see where they get the best bang for their buck. "A couple pointers I can give you is to use PPC for less-engaged audiences and use CPM for higher-engaged audiences (i.e., Website Custom Audiences or Facebook fans, etc...)," Reimherr wrote. "The idea is that the higher-engaged audiences will be more likely to click, so you should get more clicks this way and are only paying the CPM price." Another community member sought advice on how one should convert people who receive a marketing email but aren't interested in the services being promoted into potential customers. Reimherr advised the community member to put those people into the top of the funnel and market to them using good and helpful content that is of interest to them. "Eventually trust will be built, and you won't risk completely dropping off their radar or bugging them at a time where they might start to really run from you (i.e., if you had too hard of a sales push at this time)," Reimherr wrote. "So keep them in your monthly e-mail list where you are distributing your content and also have them as part of your social outreach with your custom audiences." In addition to sharing digital media advice, Reimherr has proffered productivity tips. When someone in the community asked about everyone's top productivity hack, Reimherr suggested cutting back on how often you and your team check emails each day. It is unproductive to constantly be looking at and replying to emails as it prevents you from accomplishing everything you want to accomplish as efficiently as you would like to, he wrote. "It is much more efficient to accomplish and group like tasks so just put your headphones on and knock those emails out all at once a couple times a day," said Reimherr. "It's a hard habit to crack, and even harder to get your team to buy in, but once they do, they will thank you, because it is a game-changer." Bio
Q&AQ. What attracted you to the digital marketing industry?A: It happened organically for me. Ironically, I got into the digital marketing industry due to my association with a magazine printing company, which, of course, is more in the traditional media side. But as I was putting together our sales and marketing plans, I naturally gravitated toward a content marketing and social media approach because that is where my audience lived. From there, we got into many various aspects of digital marketing, and I found it absolutely fascinating and challenging. Q. Why is digital marketing important and essential for startup growth?A: Digital marketing is so essential because for the majority of businesses, it's not only the fastest way to success, it's paramount to success. Even for companies that garner most of their business from other outlets, such as trade shows or cold calling, you can always enhance your efforts by adding on a digital strategy. This is only going to continue to be the case as we move forward. This is simply due to how the world has and continues to evolve. Q. How can you build a digital marketing strategy?A: This question can result in 100 different answers depending on your unique situation, but I will give some input on where to start and focus. You first must identify your goals. This sounds simple, but it is often overlooked or is very vague. You need to know what success looks like in order to achieve it. From there, you need to learn as much as possible about your customers. Questions you need to answer include the following:
You get the point. There is a lot to figure out. But once you have all of this info, you can start to figure out what is needed in order to get their attention (branding/awareness), where and how you want to lead them to purchase (funnel), and what are you going to do to make them lifelong customers and raving fans (customer cultivation). There are hundreds of different things you can do for each part, so I leave that up to each marketing manager to figure out. But, hopefully, this gives some insight on where to start. Q. What are the benefits of hiring a digital marketing firm versus handling it in-house?A: The main benefits of hiring a digital marketing firm are that you get multiple skillsets in one place that you may not be able to staff, and you also should be able to pay for these at a discount versus paying the salaries and trying to find enough work for everyone to do to justify full-time positions. You also have access to people who specialize in certain activities. For us, it's social media advertising expertise and content strategy, and I can't even guess at this point the amount of hours of training and practice our staff now has. Another benefit is that you are protected from investing a ton of time, resources and education on a specialized skillset. If that person leaves your company, all that time (and resources) goes down the drain. Of course, if you handle all your activities in-house and truly have the same expertise, and are able to keep them busy, there are benefits to keeping everything internal. Q. Why did you join the business.com community?A: I have been lucky to have a mindset to always be learning from others who have experiences and expertise to share. I also love to give back the best I can and what better place to do this for my business education than business.com. Q. What do you enjoy most about being a part of the business.com community?A: Not wanting to be redundant here, but it's about the education and sharing. Q. How do you decide what to write about when contributing an article?A: The biggest considerations are always will this be helpful and do we know what we are talking about enough to help others? Q. What makes you want to answer other community members' questions?A: Reciprocity. I have been helped by so many beautiful people that I feel compelled to return the favor. Q. What is the best professional advice you have received?A: To focus. Focus on a niche market or a specific offering. You can't be all things to all people. Also, when you focus, you get so much better and bring such a higher value proposition to the world. I only wish that I would have taken this advice from Joe Pulizzi, Andrew Davis, Marcus Sheridan and Gini Dietrich when they gave it to me five years ago, but I am listening now. Q. What is the biggest professional mistake you have made and how did you overcome it?A: See above. Unfortunately, I didn't take the advice from these amazing entrepreneurs when they each spoke about the importance of focus. Truth be told, I wasn't sure what to focus on at the beginning. But after having righted the ship and allowing our team to focus, it's been amazing to see the rapid growth in their education and our value proposition. I just wish I would've done so from the get-go, but this must have been necessary to my overall journey. So I try to take all the "what-ifs" in stride. Join the business.com communityAt business.com, we understand the stress of running a business. You are so bombarded with advice on the importance of marketing, improving your website or training employees that you can barely focus on day-to-day operations. Our community was created to help you cut through the clutter of information, connect with other small business owners and share advice to overcome common business challenges. To join our community (which is free), click here. As a business.com community member, you'll have access to:
If you are already a community member and want to be considered for our Member of the Month feature, send an email to editor@business.com. We'd love to share your business story. |
| How to Monetize Your Tech Knowledge Posted: 10 Jul 2019 05:30 AM PDT  I bet you take that knowledge for granted. Technology experts seem to think that just because we know the ins and outs of deploying a virtual machine, installing and configuring software or writing some code. It's not true. We are subject matter experts (SMEs), and the knowledge in our head is valuable. There are lots of people out there that would love to know what you know, and where there is demand, there can be a financial reward, but where do you start? If you've been toiling away in your job your entire life and have never considered creating training content before, the task may seem overwhelming. Where do you start? Whom do I contact? Write articles.One of the easiest ways to monetize your knowledge is writing articles like this one. Writing isn't difficult if you know how to explain yourself and write well. Start blogging to get used to writing. Ask for feedback on your writing from others and pay attention to how other authors write. Once you've built up a portfolio of written content, you will then use this as your resume to potential clients. Look for sites that publish tech content that you're interested in and contact them. Some will pay you and some will not. Compose an e-book.It's easier than ever to publish your own book. Although e-books entail a lot more writing than a 500- to 1,000-word article, they can be more financially lucrative because you're selling copies. Check out such sites as LeanPub that help authors publish e-books. I've personally published my Pester Book on LeanPub, and the rewards have been much more than I had expected. Record videos.You don't have to be an expert writer to produce great content; screencast videos work well too. If you can speak intelligently about a subject, have an excellent microphone and can walk someone through a software app or piece of tech entertainingly and engagingly, a video may be your ticket to success. There are many ways to monetize video content. You could produce and publish short videos on YouTube using their ad monetization platform; build online training courses with companies like Pluralsight, Udemy, Packt, CBT Nuggets, and others; join my startup TechSnips; or create and market courses yourself on platforms like Thinkific. You could even publish videos on your blog instead of written articles. Screencast videos are a great way to learn subject matter, and if you've got the know-how on a particular subject, fire up a screencast recorder, take out your mic and start training. Work with vendors.Once you've produced content for a while and have established an audience, vendors in your space will approach you to create content for them or sponsor your existing content. Vendors know your audience may be looking for their product and want to get in front of those people. Creating content for vendors can run the gamut from articles, blog sponsorships, white papers, e-books, videos or entire courses. Since your work is directly tied to a potential sale, you'll find that many vendors will pay handsomely for your training content or a review of their software. Even if you haven't established a presence yet in your industry, great content is great content. Vendors love to work with people who can explain complicated tech concepts with ease around their specific product areas. SummaryAs a tech professional, the hardest part to overcome isn't figuring out how to make money; it's overcoming the mental challenge of thinking you're not good enough and gaining more confidence. I struggled with putting myself out there when I first started, and I know every person I've ever helped faced the same struggles as well. Know that everyone has something to learn out there whether it's basic, 101-style content or advanced material. Everyone has something of value to share with the world locked inside their head. Get out of your comfort zone and start monetizing. |
| Open Office vs. Private Office: Which Is Right for Your SMB? Posted: 10 Jul 2019 05:12 AM PDT 
When deciding on your office design, it is important to consider more than just cost or personal preferences. Private offices and open office floor plans each have pros and cons that can affect employee productivity, job satisfaction and work-life balance. Depending on your industry, employee preferences and job functions, one workplace design might be a better fit for your office than the other. For instance, Dan Zakai, CEO and co-founder of Mindspace, suggested that while a more collaborative team might perform well in an open layout, employees whose job functions require more privacy and security may be better off in cubicles. Bill Himmelstein, CEO of commercial real estate brokerage Tenant Advisory Group, said the goal for improving your company's productivity is to give employees a working environment in which they can accomplish as much as possible. "Sometimes it's more collaborative in nature, and other times it is [finding] some quiet space and [staying] heads down for a while," he told Business News Daily. "Either way, an office space should be adaptable, support the company's culture, and … serve as a place where employees and partners alike want to spend time." A combination of open and closed floor plans is also an option, and a highly desirable one to consider. According to the Gensler U.S. Workplace Survey 2019, 77% of employees prefer work environments that incorporate features from both open and closed office plans. Many small business owners make the mistake of assuming which type of office plan is best for their workers, but this can cause issues in some organizations. Rather than picking what's most convenient or what you think is most popular, weigh the pros and cons of each, based on your team's needs. Open office plansOpen offices, for the most part, lack cubicles and private offices. Colleagues typically sit close to each other in a shared office space. This workplace design gives office workers the chance to communicate freely, which can be both good and bad for the company. Zakai and Himmelstein outlined the pros and cons of open offices. Pros:
Cons:
Open office layouts shouldn't be off the table, but there needs to be a balance. Throwing everyone together in one room, with phone calls, meetings and conversations between colleagues, is a recipe for disaster. "While the open layout is feasible for some industries, workers need zones dedicated to minimizing distractions," said Himmelstein. "Oftentimes, this style of office layout amplifies the negative effects of overcrowding, as finding a quiet moment to compose emails [and] reports or make phone calls can be a challenge." Editor's note: Looking for office cubicles? Fill out the below questionnaire to be connected with vendors that can help. Private office designsPrivate offices and independent workspaces give workers a better chance to focus on their own work without distractions. However, collaboration is limited, and company culture is often lacking. Zakai and Himmelstein outlined the pros and cons of private offices. Pros:
Cons:
While some jobs require more privacy than others, a certain extent of privacy is necessary in every business. "Businesses have quickly discovered that when privacy leaves the workplace, so does productivity," said Himmelstein. "Few private spaces leads to a lack of places to deal with personal issues that will inevitably distract an entire team if someone is stressed or upset. Additionally, employees may be less likely to take risks if their peers are watching them fail in the open." Combination of both office layoutsFocus on the nature of your business. What environment will suit the types of workers you employ and the tasks they must complete? "It starts with understanding your culture and how your people work, and then carefully planning the office space selection, design and construction," said Himmelstein. He advised speaking with a designer and broker about the best layout for your team, discussing how much privacy your workers need and what type of environment you prefer. Employees should have a say in the matter, and their situations and job functions should be considered in the decision. For example, Himmelstein said, you could limit private offices to top executives and add conference rooms as needed to give people places to meet in private. "Consider the work and your team's needs," he added. "Does the nature of the work require frequent phone calls with clients, or tasks that require strong focus? Or are your employees often engaged in group projects, necessitating regular communication?" While open offices may be popular today, many companies are finding out the hard way that they need boundaries. You can have the best of both by finding a balance. If you decide on a more open layout, provide private booths for phone calls and conference rooms for meetings. If you go with a more private office space, ensure you're still collaborating and maintaining positive company culture through team outings or check-ins. Some source interviews were conducted for a previous version of this article. Additional reporting by Sammi Caramela. |
| 9 Common Business Lawsuits You May Face Posted: 10 Jul 2019 05:05 AM PDT  Litigation addiction in the United States costs small businesses more than $100 billion each year. It's not a matter of if it will happen to your business, but when. Seek legal advice now rather than later and get your liability protection nailed down. Although the specifics of your business determine the types of litigation you may face, business lawsuits generally fall into one of three categories: You may be sued by another business, by one of your customers or by an employee. Let's take a closer look at the most common grievances and why they might be leveraged. 1. Breach of contractThis means you failed to carry out the terms of a contract. This can take many forms – failing to deliver goods, failing to pay for goods after you received them, delivering damaged or incorrect goods, revealing a trade secret, etc. You may be sued by another business, typically for breach of contract, says Israel Piedra, a civil litigation attorney at Welts, White & Fontaine. Customers and employees can also introduce litigation over breach of a contract. 2. Slip-and-fall accidentsThe name says it all. Someone slips, possibly on a wet surface, and tumbles or nosedives to the ground. These accidents can lead to serious injuries, says Tina Willis, a personal injury attorney and owner of Tina Willis Law. The costs if you lose can run into the hundreds of thousands of dollars, according to Willis. 3. Premises liabilityNegligent security means the business had insufficient protection. Protection can include locks, guards, trimmed bushes, lights and security cameras, according to Willis. These lawsuits come into play when someone is seriously injured or killed, usually by a third party, at a business location. 4. Auto accidentsWhen one of your employees causes an accident while driving a company vehicle, your business can be held liable. Willis notes that if the business has enough commercial auto insurance, the claim will most likely be handled and the owner won't have to worry about litigation. 5. Discrimination against employeesCharges can be issued because of perceived discrimination due to age, race, gender identity, sex, pregnancy status, religion, or disability, such as in cases of wrongful termination or lack of overtime pay. Employees sometimes file whistleblower lawsuits too, but those are less common, Willis said. U.S.-based small and midsize business have a 12% chance of an employee suing them, according to Insurance Journal. The Americans with Disabilities Act forbids discrimination against anyone with a disability in the workplace, public life, schools, transportation, and all public and private places that are open to the general public. 6. Discrimination against customersRefusing to satisfy a customer due to their age, race, gender identity, sex, religion or disability falls under this type of civil case. An example would be a bakery owner who refused to make a wedding cake for a same-sex couple. 7. HarassmentAnother big workplace issue, harassment, includes bullying, sexual harassment (like telling off-color jokes or romantically pursuing an employee), physical attacks and psychological aggravation. Sexual harassment is reported more now with the #MeToo momentum. 8. Employee injury or sicknessAs long as the issue happened at work or is related to work, workers' compensation should cover the costs. Never skimp on workers' compensation, as the costs in fines and punishment (potentially including jail time) can be hefty depending on the state. [Read related article: Workers' Compensation: What SMBs Need to Know] 9. Intellectual property rightsWhether it's your logo, an image you found on the web or the name of your business, another company may say you stole from them. You may then be held legally accountable. What types of courts hear business cases?Depending on the limit in your state, small claims court will address cases ranging from $3,000 to $10,000 in damages. Any complaint with more monetary costs at stake will likely be tried in a state court. If you've violated the U.S. Constitution or a federal law, you'll probably spend time in one of the federal courts. If you don't want to pay attorney's fees to try a case, you need to safeguard your business. Protecting your ventureConducting business at the highest standards for your product or service ranks No. 1 in avoiding legal grievances. Those standards should include exemplary customer service. "A lot of claims against businesses come from disgruntled customers, unhappy with the customer service they received," Piedra said. "These claims can be avoided if the business owner bends over backwards to make their customers happy." You also need to make sure your premises are safe and well maintained, he said. Another way to shield your business is to operate as either an LLC or a corporation and observe the formalities of either distinction. Piedra said you don't want to blur the lines between your personal and business identity. Of course, the right kind and amount of insurance also guards your company against these legal proceedings. Piedra said he tells his clients to discuss coverage needs with an insurance agent. Don't assume that general liability protection is all you need – this doesn't cover breach of contract or errors made by a contractor, accountant, architect and other tradespeople. Those cases would require specialty insurance such as an errors and omissions policy. "There is insurance coverage you can buy like errors and omissions or product liability, but many businesses don't have it," Piedra said. "Even if you feel the claim (someone lodges against your business) is baseless, attorney's fees can make settlement the wisest option." Instead of assuming you're covered, talk with others in your industry about disputes that may arise. Consulting with a lawyer about potential exposure is also a good idea, according to Piedra. "Even if you think you'll be careful, a catastrophic claim can mean going out of business," Piedra said. Hiring employment defense lawyers to train your staff, draft employment handbooks, and consult with you before you reprimand or fire an employee is another way to protect your assets, according to Willis, and well worth the attorney's fees. Corporate entities and assetsIf you have established a sole proprietorship, you can be held personally liable for most lawsuits, said Piedra. However, as a corporate entity (which includes corporations, LLCs and other legal entities), you're only held liable under limited circumstances, he says. "This is called 'piercing the corporate veil' and can occur if your company doesn't keep minutes or hold annual meetings and the corporation isn't sufficiently distinguished from the individual," Piedra said. "But this is quite difficult to prove." A corporation's business assets often have no protection if a court judgment is obtained against the company, Piedra said. That's why strong insurance coverage is so important. As a workaround, some business owners purchase certain assets personally (or through another business entity) and merely lease them to the main business, creating an extra layer of protection. This way, the business assets can be turned over to an individual and then leased back to the business. For every lawsuit, Piedra said, many more claims are lodged against a business. These claims may come in the form of a demand letter from a law firm representing a customer or another business, and typically a settlement is reached outside of court by the business or their insurance company, he said. Negative online reviewsThe number of slanderous cases emerging because of negative online reviews continues to rise, as these sources of testimonials (when they're positive) have become vital to small businesses. "Usually they're not deemed defamation," Piedra said. "Typically, that's considered an opinion – even if the business owner disagrees with the review. Even if the review is blatantly false, it's still difficult to prove, and courts are hesitant to prohibit or penalize for an opinion." As far as bringing legal action against the reviewer, he says it's not economical or practical for a business to pursue. |
| Expand Internationally By Leveraging Local PEO Services Posted: 10 Jul 2019 05:00 AM PDT  • A PEO can assist you with payroll, benefits and human resources support for your business Through a co-employment model, these organizations offer comprehensive human resource services abroad for business without a physical presence in the country. This is especially helpful for businesses who want to "dip their toe" in a new market but aren't yet committed to building an office. Having flexible human capability in a new market can be the difference in your success. Smaller business should look at what a PEO can bring to their work environment. Overseas employees can access benefits offered by (often larger sized) PEOs and have a localized support network. Understand what assistance you can find in a PEO and how they can support your business success. What's a Professional Employer Organization?Professional Employer Organizations (PEOs) take care of your overseas human resource requirements through a co-employment model. They support smaller businesses seeking to employ people in a country they don't yet have a physical footprint in. This enables businesses to focus on their core operations and staff at home. Editor's note: Interested in a PEO service? Fill out the questionnaire below to have our vendor partners provide you with information for free. A PEO partner can pay your overseas employees' wages on your behalf. They can also offer staff benefits offered in larger companies, such as health subsidies and training. Your business can relax about foreign tax and employment regulations; a PEO takes care of this too. Working alongside a PEOA PEO can take care of the needs of your staff abroad and make sure your business stays are compliant. This frees you up to focus on your operations and responsibilities in your home country. Employment laws and regulations can differ greatly abroad. You won't need to undertake extensive research to protect your business from penalties. Using an expert in this area will save you that time. At a micro level, a PEO can undertake a full range of HR administration activities, to avoid incompleteness in your overseas employment records due to lack of knowledge and connection. Note on risk mitigationIt's important for your business to land on its feet in this new work environment. Though you may only be hiring one person to gauge market potential, you'll have a number of new and complex laws to comply with. As mentioned above, a PEO will take care of many of these for you. While your expansion is underway, it's crucial to mitigate risk where possible. Your first impression on a new market is important, and unforeseen financial penalties as a result of noncompliance can be easily avoided. Besides support from an international PEO, you should also consider how other legal, financial and commercial representation could protect you from unnecessary risk. Find the right PEO for your businessPEO services can vary as companies try to distinguish themselves. An employee leasing company, human resources outsourcing organization, and administrative services organization can all offer assorted overseas human resource (HR) services. Generally speaking, a PEO can assist you with the following services:
You can identify the services your chosen PEO will take responsibility for (and to what extent) in the client service agreement. Client service agreement detailsBusinesses and PEOs agree on the arrangements for HR services through a client service agreement. This agreement will clearly outline your responsibilities and those of the PEO. Once agreed upon and signed, the PEO can employ staff overseas for your business. Notably, the PEO will need authority to undertake outsourced HR requirements such as payroll, for the purposes of complying with the foreign country's regulations. Recruit the right staffA PEO's flexibility means you can get their support bringing on a staff member you've already found abroad, or they can carry out the entire recruitment process. Work with your PEO to identify the talent you're targeting. Once selected, your overseas staff member will sign a co-employment contract. This contract will outline the roles of your business and the PEO. A PEO's expertise normally means that the onboarding process for your employees abroad is faster and smoother. Smaller companies can offer overseas staff 'big company' benefitsPEOs are especially valuable for small and medium businesses hiring overseas, as they can offer some benefits smaller firms cannot. Local support, advice and engagement is important for overseas staff. This weight is taken off your shoulders when working with a PEO. Bigger companies can cushion overseas employees with health and dental insurance, and training opportunities. Internal processes in areas such as safety, human resources and risk management may be more structured and accessible. Your overseas employees may have a more comprehensive support network, reducing the likelihood of turnover among staff abroad. Leveraging PEO services will help you avoid feeling stretched in having to monitor and comply with overseas laws. Consider how a PEO can support your business's success in market entry. Bridging cultural gapsSoft skills can often be underrated when businesses are moving into new environments. However, it's a topic that frequently comes up as key building new relationships and ensuring client satisfaction. When expanding into another country, it's important to consider the culture (and, if applicable) language differences you're likely to encounter. It's important when hiring your overseas staff for your expansion, to express the importance of integration into new communities. Populations in every country have different customs and ways of doing things that take time to understand. In business, you can bet that workplace environment, expectations and behaviors differ to your own in some way. Hiring overseas staff through an international PEO ensures your business can meet potential clients and partners on their terms and in the manner they're accustomed to. This shows that your business respects the customs of your new clients and stakeholders. Making an effort to bridge cultural or linguistic differences demonstrates your commitment to your expansion and building enduring professional relationships. Seeking out an international PEO offers comfort to a business moving into vastly different social, professional and cultural landscapes. International PEOs have the experience and etiquette knowledge for the country or countries they're working in. You can rely on their knowledge and soft skills to recruit the right employee and, if they're not local, support them through their induction into a new environment. Seamless integrationInternational PEOs are a lifeline for businesses entering new markets. They can support a business at different stages of expansion ‒ whether you're interested in hiring just one person overseas to test your market viability or taking the leap and establishing a permanent presence in a new destination. Make the most of what a PEO can offer; for small businesses, their international reach and company size offer security and support for your overseas staff member(s). Feel secure in knowing that an international PEO can take care of your employment needs and help you comply with local laws while you focus on the business at home. |
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