PEO BETTER ALTERNATIVE TO OUTSOURCING

PEO BETTER ALTERNATIVE TO OUTSOURCING

Renowned economists Laurie Bassi and Dan McMurrer expressed that businesses that use PEOs grow 7%-9% faster. They have 10%-14% lower employee turnover and are 50% likely to go out of business. 

Engaging with a Professional Employer Organization (PEO)/ Employer of Record (EOR) has its unique benefits. Like it will give you better control over team selection, work allocation, and cost. They will act as the middleman in this setup of co-employment. Letting you focus on your core business. PEO services/ EOR services in India will handle all your non-core business hassels. This includes your administrative hassles, compliances, employee management, and taxation requirements.

Remunance has devised a PEO model by creating a unique basket of services. The intention is to offer you the best of both worlds. Our PEO service offerings keep in mind the foreign company’s requirements. This includes cost-effective growth opportunities, seeking high-quality talent, and lowering cost operations. We ease your business operations and understand your need for trustworthy business people.

In this article, we will take you through the process of how a PEO can be a better alternative to outsourcing.

Why are PEO services in India a better alternative to outsourcing?

A PEO (Professional Employer Organization) is an industry-created to provide services to overseas businesses. A PEO model will devise a strategic plan for your global business expansion.

Engaging with a PEO will give you the opportunity to have a business continuity plan. PEO benefits include employing dedicated resources at a cost-plus model. Having a happy and satisfied team with good employee benefits. It requires no upfront investments and offers complete legal-compliant operations. There will be no risks of development rights or confidentiality issues. It will give you an opportunity to have an entity in the future at an opportune time as well.

The downside of outsourcing for global business expansion

Outsourcing became a popular buzzword in the early 90s in the business world. Many technology startups and SMEs in the US and Europe outsource their work to foreign countries. Their reasons are better flexibility, quality output, and technological competence. India has been a preferred outsourcing destination for two-plus decades. Be it for customer support, BPO as shown in mainstream media, and the ideal hub of tech companies.

However, the outsourcing model will be a contractual arrangement. Your remote employees will work for you for a definite period for the duration of a particular project. You will have to compensate them for their extra services and efforts. You won’t be able to control or monitor their performances. This is the outlook of their parent outsourcing organization. This third-party setup will make you lose your peace of mind over security, confidentiality, and infrastructure.

Despite the advantages of outsourcing, there are some things you will need to consider if you have other goals. Motives like lowering your operation costs, increasing efficiency and productivity by hiring staff on the same salary budget. Also negligible legal compliances, employee retention, and HR support. Then a PEO- co-employment model will work great for you.

A PEO service organization would be a better alternative. If you have tested the outsourcing route and are looking for something more beneficial.

Remunance, your co-partner in global business expansion

Remunance as a Professional Employer Organization has pioneered as a leader in PEO services. Although the PEO industry is in its infancy stage in India. To date, Remunance has 70 plus clients from 16 countries. Our Founder, Mr. Rajendra, has spent significant time studying the PEOs in the US and created a business model that works in the favor of India.

We introduce you to an innovative PEO model in India that offers the best of both worlds. A business model that is built around the BOT ( build, operate, and transfer). We specially designed the business in India to help you succeed in India. Remunance will source the right talent to meet your startup and SME business needs. We will look after HR management like sourcing talent, onboarding new staff, and accommodating your employees in the right infrastructure. Remunance will set up their bank accounts, conduct timely payroll, and manage their taxes and insurance.

Our prime focus is to offer you hand holding and effective mentorship to help your business grow in India. We believe in equally sharing your risks and concerns. We will come into the picture as your legal employer for your remote employees. With our PEO model, you need not worry about legal compliance perils if you do not wish to form an entity right away. Except for project execution and management, leave all your concerns to us.

Joining hands with us will extend a collaborative, transparent, and constructive co-employment relationship.

Get in touch with us to know more about end-to-end umbrella PEO services.