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NelsonHall spotlights Acumen International as a pioneer of a “turnkey” solution for Immediate Global Employment

PROMPT RELEASE: A leading analyst firm outlines solid Global PEO service able to offer multi-national firms a “turnkey” compliant global expansion enabling HR and payroll delivery model in support of >190 countries, including support for talent acquisition and retention States strong organic growth of ‘express global employment for immediate hiring needs’ pioneer Points to deep… Read more NelsonHall spotlights Acumen International as a pioneer of a “turnkey” solution for Immediate Global Employment

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PROMPT RELEASE:

  • A leading analyst firm outlines solid Global PEO service able to offer multi-national firms a “turnkey” compliant global expansion enabling HR and payroll delivery model in support of >190 countries, including support for talent acquisition and retention
  • States strong organic growth of ‘express global employment for immediate hiring needs’ pioneer
  • Points to deep global expansion and employer of record services execution experience that is further validated as it has been adopted by other EoR providers, to supplement their own legal entity footprint gaps

London, UK, August 26, 2020 – A leading analyst firm, NelsonHall’s latest market analysis spotlights the key strengths and marks Acumen International as an industry leader among other Global PEO providers. This assessment analyzes Acumen International’s offerings and capabilities in Global Employer of Record (EoR) Services enabling multi-national firms to expand globally and engage global talent in >190 countries, including offering value-added tools for global expansion and talent acquisition decision making and providing tailored client support.

Acumen International is a Global Employer of Record company rendering a comprehensive set of services and standalone SaaS tools in support of firms seeking fully compliant global expansion and talent acquisition solutions as well as other EoR service providers.

The report prepared and published by its author Pete Tiliakos, a Principal Analyst at NelsonHall, scrutinizes Acumen International’s “turnkey” compliant Express Global Employment in support of >190 countries enabling streamlined businesses’ entry in the new geographies without own entity formation, as well as ability to convert their current foreign independent contractors into employees.

It includes Acumen’s express global employment and global employer of record solutions, work permit support for expats in-country employment post immigration, as well as additional benefits provision.

The report points to Acumen’s following key differentiators:

  • Acumen International’s 20-year experience in HR field and a 9-year experience applying deep expertise in global expansion and compliance
  • Unique offering for immediate employment needs that is ensured via Express Global Employment (EGE) allowing for compliant expedited employee onboarding in >190 locations within only 72 hours
  • Self-service tools in support of global expansion and talent acquisition and retention cost modeling, and compliance through its global payroll calculator (GPC) and global HR assistant (GHRA) solutions
  • In-country team of experts to collect data and make regular updates on the constantly changing labor laws and regulations in the countries of coverage
  • Unique ‘blended’ business model: Acumen International maintains a physical delivery presence in six countries including: the U.K., Estonia, Ukraine, Russia, Belarus and Georgia, where it has legal entities, and leverages in-country partners (ICP’s) in locations where it does not have legal entities in-country.

Clients receive direct support from client managers and support teams, while workers are generally supported locally by the ICP’s. However, workers can contact Acumen for coordinating support between themselves and the ICP’s as needed.

This model allows for using deep expertise of in-country market leaders and reducing costs too. In addition, Acumen International offers a flexible pricing based on the project employee number.

Nelson Hall’s analysis stresses the key role of International PEO in helping growing companies see ‘the world as a global workplace’ and points to the often overlooked EoR service model, even though the concept of global employer of record is not at all new.

‘For more than a decade, it has helped us act as our clients’ #1 trusted global partner with hyper local expertise supported by a sustainable international network’, said Acumen International CEO Nick Ganzha. ‘We are in a people business, which is why our Global PEO solution aims at giving companies freedom from own entity formation, which means not overlaying the cost of incorporation and entity maintenance to the client. Otherwise this would contradict the very nature of a PEO concept’ – he added.

According to the analysis, NelsonHall further expects Acumen International will achieve revenue growth for its global employer of record service offering of >30% for the calendar year 2020.

About Acumen International

Acumen International is a global PEO / Employer of Record with its headquarters in London, UK, and a Global Shared Service Center in Kiev, Ukraine. We offer our solutions on over 190 countries to help companies operate internationally in a faster and simpler way, and with no employment risks, which is through international workforce employment instead of own foreign company setup.

Using Acumen International global PEO and compliance solutions, you can have skillful employees and valuable project teams working for you or your client in any country where you are not established, a sales manager exploring a new market or temporary workforce fulfilling the project of any complexity or duration.

Source: NelsonHall assessment analyzes Acumen International’s offerings and capabilities in Global Employer of Record Services

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Guide to Global Expansion for Small and Medium Businesses

It is universally agreed that small and medium enterprises (SMEs) are the backbones of local economies. But being small doesn’t have to limit your market outreach. Thanks to innovations in technology and the support systems that evolved with them, businesses of any size can have a slice of the global pie. If you are ready… Read more Guide to Global Expansion for Small and Medium Businesses

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It is universally agreed that small and medium enterprises (SMEs) are the backbones of local economies. But being small doesn’t have to limit your market outreach. Thanks to innovations in technology and the support systems that evolved with them, businesses of any size can have a slice of the global pie. If you are ready to spread your wings and soar into the international marketplace, there are solutions available to help you succeed abroad.

Challenges of Establishing a Legal Entity Abroad

Just as there are rules of incorporation in the US that vary from state to state, when you open a company overseas, you have to comply with local regulations and standards. Entity formation in a foreign country can entail a mire of forms to be filled out, questions to be answered, and bureaucratic red tape to navigate. For some companies, overcoming the obstacles of local compliance can be a deterrent for international expansion.

In addition, international employment poses its own problems. Finding local qualified staff can be challenging, especially if there is a language barrier. Foreign governments often have rigid guidelines for employing locals, and even stiffer guidelines for sending your own staff members to work in a foreign country. Many SMEs lack the financial and human resources to overcome the challenges of setting up shop in another country.

Options for SMEs to break into the international market include:

  • Operating in foreign markets from your home country. You may be able to sell your goods and services abroad without leaving home, but doing so has its challenges. You will still need to find local employees to represent your interests, and managing, communicating and paying them will be difficult from a remote distance.
  • Going through established dealers or distributors to market your products. Identifying reliable business partners who are willing to handle your goods is another option. Just keep in mind that if you do find distributors you can depend on, you will still have to negotiate terms of doing business, manage shipping and inventory, and follow up on a daily basis to ensure your goods are reaching your target audience.
  • Establishing a foreign branch of your existing business, or setting up a local office. This option gives you more control, and ensures your interests are being represented and protected. However, be prepared to deal with local tax laws, legal red tape and obscure regulations for hiring local workers.

Fortunately, your SME does not have to be a trailblazer when embarking on foreign frontiers. Entities already exist to help you navigate the complexities of compliance, recruiting and staffing of your business entity in foreign lands.

Advantages of Working with a Global PEO

A Global professional employer organization (PEO) bridges the human resources gap for businesses who want to expand globally. Partnering your SME with a Global PEO gives you the tools to effectively manage risk and meet compliance requirements without having to form a legal entity in a foreign country. It allows you some wiggle room to explore your options and get established without draining your limited resources.

An International PEO can benefit your company in four key areas:

  • Hiring: A PEO can help you recruit and hire the best full-time sales talent without having to establish a legal entity. As a global employer of record, a PEO saves you from having to rely on temporary contractors with dispersed loyalties, and lets you form stable employer-employee relationships that breed loyalty and benefit your company in the long run.
  • Local compliance: The language, culture, customs and legal requirements of foreign countries can be overwhelming, making it a challenge to get your business up and running. A PEO already has systems in place in dozens of foreign countries to help you set up commerce with a minimum of hassles and red tape.
  • Cost: Getting established abroad can be costly, especially if you don’t know the language or the lay of the land. Fees and taxes for establishing a business entity can be prohibitive, and you are likely to make costly mistakes that delay your progress and result in unnecessary fees, fines and expenditures. A PEO can save you money by eliminating confusion and slashing through red tape.
  • Time: Establishing an office in a foreign country can be a long drawn out process wrought with paperwork and delays. A PEO can get you set up quickly with local sales representatives to work in your target markets without waiting for in-country incorporation formalities. A PEO can help you recruit and hire a reliable local sales force to represent your business in a relatively short amount of time.

Acumen International: Your SME Business Partner Abroad

If you are ready to test the waters of international commerce but hesitate due to limited resources and knowledge, Acumen International can help. We help SMEs operate in over 190 global markets by solving issues of staffing and compliance. Save money, time and headaches while you establish your brand and gain a local presence in foreign markets. Contact Acumen today, and learn how we can help your SME go global.

Contact us today or Request a Quote here.

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Compliance Guidelines for Companies that Hire Expats

When your company’s operations span the globe, sending representatives abroad is a necessity if you want to remain competitive. Yet now more than ever, the process of preparing expat employees and helping them get established in foreign jurisdictions is riddled with challenges. In addition to the global pandemic that imposes travel restrictions and causes widespread… Read more Compliance Guidelines for Companies that Hire Expats

When your company’s operations span the globe, sending representatives abroad is a necessity if you want to remain competitive. Yet now more than ever, the process of preparing expat employees and helping them get established in foreign jurisdictions is riddled with challenges. In addition to the global pandemic that imposes travel restrictions and causes widespread political and economic instability, you have to make sure that your company and your workforce are in compliance with local rules and regulations.

Challenges Faced by Expat Employees

Working abroad is not everyone’s cup of tea, and it takes a special type of employee to accept the challenges of an international assignment. For the special few who fit the bill, working in a foreign city offers intangible rewards in terms of culture, experience and personal growth.

But even the most qualified and avid candidate is bound to face some challenges, and it is important for your company to equip them to cope before you throw them to the wolves.

Obstacles often faced by expat workers include:

  • Language barriers. If your candidate does not speak the local language, begin language training early on, and set up a buddy system in the destination country with a local employee who can help the new candidate acclimatize. Be sure to forewarn local employees that the individual you are sending will need some help with language.
  • Culture shock. Provide your expat employee with as much information as you can about the local culture. If possible, put them in touch with a veteran who has lived in the country and can offer some helpful information on navigating the local culture.
  • Personal health and safety issues. Medical care and hygiene standards vary from country to country, so it is important to take the health of your employee into consideration. A candidate with a chronic medical condition that needs to be monitored or managed with medications may be a high risk. Expats also make attractive targets for criminals. Be sure to thoroughly advise your employee on safety risks and how to avoid them. An expat employee can quickly become overwhelmed in a foreign environment if they are not properly prepared, and their job performance will suffer. It is imperative for your company to equip expat workers to face obstacles and challenges, and to keep them safe while they live and work abroad.
  • Immigration procedure. Start early on, especially if you need to relocate the expat with their family and/or dependents. Check the documents required as well as the timelines to get a visa. Think carefully of how you will onboard and pay the person in the target country if a long-term assignment is at stake. Leaving workers on payroll in your home country is only justified in case of short-term projects for 3 months or less. If you are sending expats overseas long-term, you need to think how to arrange local payroll for them compliantly. If it is not viable for you to open your own entities and hire directly, make sure you partner with a reliable third-party employment or global PEO company. Mind that having a single work visa sponsor and local employer that would onboard expats post-immigration would significantly raise your chances to get a visa. It is fine if you have an entity in a foreign country and will apply for a visa directly. However, if you don’t have your own entity or at all don’t plan to incorporate in the target country, a global PEO can apply for a visa on your behalf in addition to arranging local payroll for your employees. Employee termination at the end of contract or visa prolongation can also be done by a global PEO partner.

Preparing Your Employees for Work Overseas

To successfully send a talented employee to work for your company abroad, it is important to provide them with a well-designed relocation package that includes cultural and language training, as well as detailed information on safety and health concerns.

In addition, it is important to assign key sponsors, both at the home office and at the host office, to keep the employee informed and provide support when needed. A sponsor who has worked in the host country can be an invaluable asset for helping the employee transition smoothly to their new home and job.

Frequent open communication with the home office is key to successful job performance, so be sure to keep your expat in the loop throughout the assignment period, and have a plan in place to bring them back into the home fold, once the overseas assignment is over.

Costs of Expatriation

In addition to preparing your staff to live and work overseas, it is important to calculate the cost of retaining a foreign workforce. In general, the expense of sending a worker overseas is calculated at three times their salary, so you want to be sure you’re getting plenty of bang for your buck.

Once you find the most qualified and reliable candidate for an overseas position, you need to crunch some numbers to be sure the assignment is financially feasible:

  • Salary
  • Living accommodations and expenses
  • Travel expenses
  • Taxes and benefits
  • Work permit expenses

Careful planning is key to successfully establishing an expat workforce abroad that is able to adapt to new environments and still maintain high levels of productivity. To successfully launch an expat employee, you should collaborate with your HR, accounting, operations, and other team members. With such a large investment at stake, the last thing you need is a steady turnover of failed assignments.

Getting Work Permits for Expat Workers

It is essential to provide your expat with the proper documentation for working in the host country. While short-term assignments often need only a visa, extended assignments that entail substantial business activities will likely require an official work permit.

Depending on the host country, obtaining a work permit can be a costly and lengthy process. Many countries are closely scrutinizing the applications of foreign companies who want to send workers abroad. Some companies try to skip this step by obtaining visas under false pretenses, but the consequences of doing so can be severe for both the employee and the company.

Acumen International for Global Workforce Solutions

Obtaining visas and work permits for your overseas workforce can be complicated. That’s why Acumen International developed our tailored solution for Expats Foreign Employment. We help companies like yours overcome the obstacles of obtaining work permits in over 190 countries and legally onboarding expats after they have received work permits. We can advise you on the documentation you’ll need, the procedures to be followed, and the nuances of working in your host country. Acumen’s solution can save you the hassle of mounds of paperwork and bureaucratic red tape, so you can focus on getting your employee ready to successfully live and work abroad.

Contact us today or Request a Quote here.