Businesses today are expanding rapidly across borders. The capability to go global is critical for competitive businesses. Having operations in different countries might enhance their profit, but recruiting, hiring, onboarding, paying and managing remote employees can be difficult and risky.
There are a lot of things that you must take into consideration while hiring a full time employee in another country. If you're doing business internationally, you need a reliable and efficient payroll solution to handle the complexities of multiple currencies, a local guidance to comply with regulations, you must be aware of wages and payment methods, and you’ll need to provide your employees some benefits such as health insurance and paid vacation days.
Latin America has been a growing market to look for remote employees, however there are significant challenges to hiring here. You must take into account political, legal, and economic landscapes to a successful expansion into any region, including in Latin America.
We’re going to list you 3 musts that you need to know while hiring full time remote employees in Latin America and also we’re going to tell you how to make it easier.
How to Hire International Full time Employees
Hiring an employee from another country can be a great way to diversify your workforce and tap into new talent pools.
However, there are a 3 things you must consider when hiring international full time employees:
- First, you'll need to make sure you follow the proper protocols for their countries and remember that every country has different laws and regulations that you need to follow in order to make a full time contract with a candidate
- Second, you need to open a legal entity if you want to hire someone as a full time employee. In Latin America it takes between 10 and 17 business days, more or less an entire month and it costs around 200 to 400 USD on average.
- Finally, you'll need to be aware of local minimum wages, if you're hiring remote employees, you'll need to think about compensating them fairly. Also you need to know your employees currencies and their preferred payment methods, so you'll probably have to adjust your payrolls to make that possible.
Hiring an employee is a process that can seem daunting, but with a little bit of help, it doesn't have to be.
Ontop helps you hiring remote full time employees
Now, you may be wondering if hiring remote employees is the right move for your business.
There are many benefits to hiring remote employees, but there are also some challenges as the ones mentioned before, that you need to be aware of, and at Ontop we will help you manage everything with our Employer Of Record (EOR) solution while you focus on your business.
An EOR is an excellent alternative to hire and pay your employees. It is easier, faster and more convenient for your business as it is not as expensive as opening a legal entity.
Our Employer Of Record (EOR) solution offers many services like timekeeping, payslips, and compliance which are all handled; taking care of every aspect from the start until finish so you won’t have any worries. We can help you process payroll in multiple countries, manage currency conversions, and comply with international laws and regulations.
We know that one of the most important aspects of running a business is ensuring that your employees are paid on time and accurately and with our payroll solutions you're going to have that issue totally covered.
In addition, we offer more than just basic paychecks; there are also benefits too for your employees as well as a concierge service to give you and your employees a 1:1 assistance for any case.
Let us be your hiring and payroll partner
As a business owner, you're already wearing a lot of hats.
You're responsible for managing your team, keeping up with customer demand, and ensuring that your products or services are the highest quality.
The last thing you need is to have to worry about hiring and payrolls. But unfortunately, dealing with these issues is one of the many responsibilities of owning a business. So cheer up because our Employer Of Record solution is here for you.
At Ontop we can be your extended arm for hiring and payroll. We can look for the best talent for you, make sure all the regulations are being complied, we provide a global payroll platform, we’ll help you with the onboarding process and even give real assistance for you and your employees.
We know that running a business is hard enough without worrying about hiring and payroll, so we take care of it for you. However, we also know that sometimes businesses need to downsize or change their workforce.
We offer payrolling services for companies who need help making sure their employees are paid on time and correctly. Our platform makes it easy to pay employees with online payroll services worldwide in their local currency, and we take care of all the paperwork and compliance for you.
We also know that onboarding a new remote employee can be a bit tricky. First, you want to make sure they feel onboarded and comfortable, but you also want to avoid overwhelming them with a lot of information.
Ontop can take care of the whole onboarding process for you as well.
If you're looking to expand your business into new markets, or hire your first international full time employee, our EOR service is your solution. We will manage hiring, take care of compliance and payroll processing, among many other duties of managing human resources.
Ontop is changing employment by automating international hiring and payments, making it easier and more compliant for businesses to expand their workforce.
With our Employer Of Record (EOR), you can attract the best global talent without worrying about contracts, paperwork, or compliance.
So whether you're looking to hire your first international employee or expand your workforce into new markets, at Ontop we have you covered.