A perfect PEO partner for establishing business in India
Embarking new business into one of the world’s fastest growing economies – India, is undoubtedly a progressive decision. And now is the time to take the right steps in choosing the perfect PEO partner who can support in establishing the business – the way you want. More importantly: a PEO partner having seamless, transparent & efficient processes with economies of scale.
On the search, there are several PEO Service Providers In India – some great, some not so great. Some offer few services and some specialise in efficiency and have solutions that go a long way to form a strong plinth for successful business. If you think your business needs a PEO, we recommend that you do your thorough homework. The first step in your research process should be to establish your needs so you know exactly what features and services you want before you start talking to different companies.
Mentioned below are 10 broad pointers that one should keep in mind while narrowing the search for a PEO partner:
1. Industry-accredited PEO
The accreditation (of the PEO), is an added advantage and will ease the overall process of setting up the entity in addition to the business and industry understanding.
2. Services considering business growth
As your business grows, will the PEO service be able to cater to the growing business requirements, and does it have the capability to add the services upon growth. The PEO should be a partner in progress. The PEO should be a catalyst and natural progressive partner in the business growth.
3. Exit Clause
What is the contract structure and the termination Or the cancellation policy. The entry and exit policies of the PEO partnership should be mutually flexible for both parties.
4. Trained & Seasoned team
The PEO must have a trained team that is well versed with the state and local labour laws and relevant compliances. It will be best if the PEO partner has your industry specific knowledge and understanding.
5. Solutions, Control and Accessibility
It is important to know what kind of user access does the PEO offer, like is there an online payroll portal or mobile app? Transparency and Control of operations should be easy and accessible to both parties for smooth and seamless operations leading to successful business establishment.
The cost structure is also one of the main factors to sign up for the PEO service provider. Whether the charging model is – on the basis of number of employees Or a percentage of total payrolls. The commercials should be suiting your budgetary requirements keeping in view the prevailing business conditions.
7. Customization of services
All business establishment requirements are not the same. They change as per the business objectives; also it may differ from company to company and industry. Can the PEO tailor its services to fit your business’s needs? The ability to create bespoke solutions is utmost important as each and every business / industry requirement is different. The flexible yet compliance ready approach is a must for a PEO partner.
8. Service after business hours
Customer service is of utmost importance for the PEO. It is important to know if the top management can have personal access to the lead team of skilled professionals. Also, if there is an IT support line in case you have technical problems after hours. The accessibility, especially after the usual business hours availability, considering the usual business time and varied time zones is extremely important. The team’s availability – physical Or virtual, for seamless operations is must.
9. Communication channels
What support channels does it offer? Some companies offer live chat in addition to email and phone support. Which communication method would your business prefer?
The mode and model of interaction – professional and global approach is also important for a PEO partner.
10. Business Referrals
Last but not the least, industry referrals are the best testimonial to partners. The PEO must have appropriate referrals. If the PEO service provider has positive referrals then it is the biggest strength and most valuable credential. Combing through online reviews and talking with other business owners can help you understand if the PEO practices what its sales team preaches.
Remunance has been in the business of providing PEO services for 16+ years. It is a seasoned player with extensive experience, spanning across sectors, of setting up successful companies in India from 15 + countries. Remunance offers a one stop solution to all foreign companies who are aiming India as the next business operations destination.
As a foreign company that does not have any establishment in India cannot directly hire employees to work in India. If this foreign company does not wish to establish an entity in India or would prefer to test the waters before that, going through a PEO/ EOR agency like Remunance is the ideal way forward in order to build the team in India.
A Professional Employer Organization (PEO) is an excellent starting point for small, medium and growing businesses to venture into a new country. PEO is a company that acts as a legal employer for the employee in another country while the employee works for his actual employer company (Client). The PEO agency takes care of cost-effective services for HR, payroll, insurance, benefits, and risk management. Remunance goes one step further – in addition to what generally PEO agencies offer, we provide extended services like leave management, recruiting, employee training, office infrastructure and HR management.
The other allied services of Remunance include- HR, Accounting, Taxation & Payroll management. Remunance comes with a proven experience of establishing over 56 global companies in India. Remunance has been offering the PEO/EOR services for over 15 years and this long experience, maturity, seamless processes & professional approach helps establish any foreign entity in India in the easiest manner. For more information, visit :https://www.remunance.com