Safeguard Global’s blog featured tons of valuable content in 2022, covering remote work trends, paying employees internationally, salary benchmarking, hybrid work models, and more.
Here are the year’s most popular articles.
#1: 3 HR tips for letting employees work remotely from another country:
As an employer, you’ve made the (smart) decision to offer flexibility in where your employees work. After all, remote workers report being 32% more satisfied with their careers—and when they’re happy, they’re more productive. They also contribute to employee retention.
But what if, as part of your flexible work policy, employees want to work really remote. As in, from another country.
It’s possible, but there are some important HR and payroll considerations to be aware of and plan for, because with digital nomads, the regular rules may not apply, especially when it comes to taxes, visas, and worker classification. Read the article to take a closer look.
#2: Top 3 advantages of globalization in India:
India boasts the fastest growing economy on the planet, and it’s projected to join the U.S. and China over the next decade as one of the top three economic world powers.
India’s massive economic growth is largely due to globalization—a transformational change that didn’t occur until the 1990s. Since then, the country’s gross domestic product (GDP) has grown at an exponential rate, increasing from $270 billion in 1991 to $2.87 trillion by 2019, with projections that it’ll reach a whopping $4.5 trillion by 2026.
But why did this globalization occur and what are the advantages of globalization in India for foreign businesses? Read the article to find out why.
#3: 5 countries with the best maternity leave:
New parents need time to care for an infant and to adjust to a new family dynamic. That often means temporarily taking a step back from work. While it may not be ideal for employers, it’s necessary for the health and wellbeing of employees and their families.
Depending on where your business operates, time off can mean different things. How many weeks an employee can take and how they will be compensated varies from one country to the next—and it all factors into how businesses and their employees rate the policies for paid time off.
So, which countries have the “best” maternity leave? Find out in this article.
#4: What is 13 month pay? Get a grip on this popular payment:
In some countries, certain types of payments are required by employment law or are customary, in addition to base salaries. When it comes to these extra payments, it can be a fine line between noncompliance and cultural faux pas. And you guessed it—13 month pay falls into this category.
So, what is 13 month pay, and why does it matter to multinational companies?
We'll give you a hint: It's not exactly a bonus.
It’s a type of compensation required in some countries. Like a bonus, it’s an extra paycheck, but figuring out when and how to distribute these payments to employees varies by country. Let’s take a look.
#5: Paying foreign contractors: What you need to know to stay out of risk:
Accurately paying foreign contractors requires thorough knowledge of the tax and employment laws in the countries where your business operates.
There are many factors to consider when paying foreign contractors if you want to stay in compliance, minimize operational costs and keep valued contractors happy on the job. This article explores important considerations to keep in mind in order to stay out of risk.
#6: 1099 for international contractors? Requirements for hiring and paying foreign workers:
U.S. companies continue to look overseas for talent, with worldwide employment of foreign workers standing at over 42.5 million workers, according to the U.S. Bureau of Economic Analysis.
Although hiring globally can help fill employment needs, it can also expose organizations to risk when dealing with a key foreign worker demographic: international independent contractors.
Other countries have their own rules and mandates on what constitutes a full-time employee and what constitutes an independent contractor, and lax oversight of local employment regulations and compliance could lead to severe regulatory fines and penalties. Here are the full details you need to know.
#7: 5 benefits of expanding into new markets:
Whether you’re a large enterprise or small or midsize business, your operation’s underlying goal is to grow. But maintaining business growth without pushing boundaries is impossible—it’s more likely to lead to stagnation than an increased consumer base.
Naturally, the larger you grow, the greater the risk—alongside the reward. Put simply, a business that wishes to be the top enterprise must continuously spread its roots.
Expanding into new markets is easier said than done. It requires a thought-out business and marketing strategy. And you must also determine that it is, indeed, a good fit. Even an agile company that’s experiencing great success may struggle against an established competitor in a new market. Here are a few things to keep in mind when you’re considering expanding to new markets.
#8: International salary benchmarking: A how-to guide:
Before you can hire internationally, it's important to understand what salary range is appropriate for each position and what compensation is required in each country where you plan to do business.
If your offers aren’t in line with the local market, you risk being unable to attract or retain the right talent. And improper compensation can also open you up to legal troubles if you violate employment laws.
Read this guide to global salary benchmarking, which is based on our experience over the past decade helping organizations large and small hire workers in over 165 countries.
#9: The evolution of the hybrid work model:
Companies like Google, Microsoft, Citigroup, Ford, Meta, and Dow Jones, among others, have kicked off long-awaited plans to return to the office. But for most, this so-called ‘great return’ isn’t a return to pre-pandemic norms of the 9-5, in-office, traditional work model.
While many organizations will continue to offer fully remote options, it’s more important than ever to build successful hybrid work models for the great swaths of employees who want or need to toggle back and forth between remote and on-site work at times and locations of their choosing.
Since a recent survey of senior executives found that 81% of executive leaders believe hybrid work will be the foremost working model by 2024, it is more important than ever to ensure that your organization has a detailed hybrid strategy. Read this article to learn more about how to create one.
#10: Global employment guide for fast-growing companies:
For many hypergrowth and gazelle companies, hiring top talent anywhere in the world is key to meeting market demands and capturing opportunities as first movers. The challenge is how to add workers in new countries without taking on the traditional delays and costs of international expansion.
Especially in today’s competitive talent market, you have to move fast when it comes to filling the crucial roles needed for advancing business goals—all while navigating unfamiliar employment laws and compliance risk, often without local HR resources.
This guide is based on our experience helping hundreds of companies overcome hiring challenges and add the workers they need to grow their business all around the world.
Partner with Safeguard Global in 2023
If international expansion and hiring is one of your company's goals in 2023, Safeguard Global can keep you compliant with employment regulations in more than 170+ countries around the world. When it comes to international hiring, our employer of record solution along with our qualified teams of in-country experts are here to support you throughout the entire business lifecycle.
Contact us today to speak with a global solutions advisor and learn how Safeguard Global can compliantly meet your international hiring needs.
