“Networking” may evoke images of insincere business professionals frantically darting from one artificial conversation to another in a bid to offload as many business cards as possible. Building a network, however, is more than casually exchanging contact information. It’s developing a trusted resource of knowledge and expertise that can be turned to in both our personal and professional lives – including when looking for assistance with international expansion.
For a business looking to expand internationally, building a network should be a key element of any growth strategy. But what factors should you look for when identifying a global network that can support your ambitions and propel your businesses international success?
Identifying an international network for business growth
Typically, a network capable of supporting your global success will include various resources, including accountants and lawyers to guide you through complex tax laws and support you through the red tape of registering bank accounts, as well as HR and payroll experts to advise you on hiring your employees.
Organizations looking to expand into brand-new market or expand their footprint globally for the first time should rely on a network that can help them navigate the local nuances. However, building a network that you can trust completely takes due diligence that can deter many companies—to the point of discarding their pursuit of international projects, and in turn, any potential growth for their organization.
Take the example of an international manufacturing company that had decided to expand its sales force to capitalize on an investment in new markets. The company first moved forward with local, in-country human resources agencies, but soon realized that this decision would create problems and negatively affect its business processes. The company then turned to us to leverage our existing partnerships—underscoring the value of a trusted network. Read more about the advantages the company gained.
Expanding an already-global network
Just as it would be considered unusual for us to maintain the exact same personal network over the course of the next 30 years, companies that already have a significant global presence should also strive to continually review and develop their international networks.
Ensuring you have a trusted “go-to” for any unforeseen problems is a prudent approach across all areas of life—and international business expansion is no exception. Having a global employer of record in your network can help relieve the burden on your internal resources, freeing them to focus on supporting your organization’s long-term objectives. A global employer of record partner can also remove cultural or language barriers, so your day-to-day contacts and executive personnel receive communication relevant to their requirements.
Global network solution
The true value in a network should be in connecting you to ideas, areas of expertise and resources that you don’t have or can’t develop internally. For global growth, having an international employer of record in your network is crucial. Such a partner can help you bypass the painstaking process of building your own global network of HR and employment experts. Instead, it can help you benefit from trusted, established HR relationships that save you operational costs and time.
Learn more about how your business can benefit from a global employer of record like Safeguard Global. Let our network become yours.