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Remote Work, Global Hiring Drive Explosive Growth in ‘Employer of Record’ Partnerships—Everest Group

Everest Group

DALLAS, February 21, 2023 — Everest Group research suggests that 71% of organizations want to improve their geographical footprint; however, global expansion can be a complex and lengthy process, with organizations needing to navigate new legal systems, regulations, taxes, cultures, languages and more.

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Webinar: COVID-19 Update—How to Keep Global Hiring Initiatives Running During Uncertain Times

Velocity Global

These obstacles make running global businesses challenging or nearly impossible, as millions of companies around the world shut down in an attempt to control the spread of the virus. However, for some companies, the outbreak has not stopped business entirely, and many of these firms need ways to keep their global hiring initiatives moving.

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The Definitive Guide to Employer of Record (EOR) Services

Global Expansion

In 2020, 32% of finance executives engaged with a global EOR. Another 90% believe that a trusted global EOR performs better than a typical company in handling global payroll, tax obligations, and the complex legalities of global hiring.

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HR Outsourcing Service Providers Rising to Meet New Demands for Digital Transformation

Avasant

To address these challenges, enterprises are increasingly relying on service providers for flexible HR operations and digital transformation. This has led to a seven percent growth in HR outsourcing adoption between June 2020 and June 2021. Challengers: Capita, CGI, Safeguard Global. Disruptors: Conduent, SD Worx, WNS, Zalaris.

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Globalization Benefits and Challenges

Velocity Global

Again, International PEO allows companies to compliantly employ workers overseas, without having to establish a legal entity , making global hiring easier than ever. What are the Challenges of Globalization? While globalization offers many benefits, it’s not without challenges. Ready to go global?

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Upskilling Employees: A Complete Guide

Velocity Global

For example, a fintech company looking for an alternative to London’s highly competitive hiring landscape can turn to an emerging market like Lithuania. Not every global hiring method offers time and costs savings compared to upskilling programs. It’s a full-service international expansion solution. trillion in revenue.

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How Global Remote Hiring Addresses New Zealand Tech Talent Woes

Globalization Partners

In fact, this trend reached its peak in March 2020 just before the pandemic hit, with a net migration of 91,000 people. This reduced inward migration means industries like manufacturing, agriculture, service, and tech, which depend on international talent, are currently finding it difficult to grow or even sustain their operations.

Payroll 52