The Employer of Record (staff leasing) service can offer significant advantages for small and midium-sized business owners. The way it works is that instead of hiring employees directly, your staff are employed by an outside company–an employer of record. The staff leasing provider (Professional Employment Organization) handles HR administration work including payroll, freeing your business of the burden typically associated with maintaining direct hires. Such service providers are also known as PEO – Professional Employment Organization.
By definition PEO means „Professional Employment Organization“. PEO manages wages, compensation and other payroll obligations for the human recourses of the client company.
Usually PEO has experienced HR staff, legal advisors, tax advisors, accountants. Businesses are partnering with PEO, to reduce cost for administration and compensation, because Employer of Record is a service designed in favour of the employer. Using PEO is a successful way to expand without a risk, without registering legal entities all around the world. PEO could acompaning the hiring challenges internationally, being compliant with the local legislation.
PEOs are useful with the cost reduction for unemployment compensation. компаниите. Working with PEO is a great way for SMEs to offer their employees bigger benefits, without accumulating administrative weight.
There’s no need for you as a Client to have expertise in finding high-quality talents needed for your roles. The professional employer organization will do it for them as additional service if it is needed. Horizons Bulgaria is the best choice for Employer of Record partner in Bulgaria.
The professional employment organizations are trained to coordinate with tax agencies and other offices and comply with their required paperwork needed for new staff. With this, employers can assure that they will file these documents with minimal errors on their part. Hire in Bulgaria without hassle. With our Employer of Record service we help you onboard employees in Bulgaria and are 100% compliant with local laws.
In case of unnecessary human resource available you don’t need to pay solid dismissal compensation and to carry immense legal and reputational risk of staff redundancy procedures.
The cost of working with Professional Employment Organizations is usually cheaper than hiring accounting and HR professionals. Morеover staff leasing service also saves companies money in times of crisis, when the survival and adaptation of the business is crucial.
One of the great advantages small and medium-size businesses receive from employer of record solution is the ability to focus on their core business goals and competencies. Staff leasing lets someone else handle your HR administration work so you can focus on what you do best.
In a staff leasing arrangement, your staff are employed by the employer of record. This, combined with the specialized HR skills of your leasing provider, leads to less employment risks for you and your business.
Read more about Benefits of Staff leasing during a pandemic