Vital Role of PEO on your Business Expansion in Singapore

Some business owners don’t have the time or expertise to manage all the aspects of human resources (HR). That is why a professional employer organization (PEO) can add tremendous value. PEOs can help with routine administrative HR tasks and compliance requirements so you can focus on the strategic, revenue-building aspects of your business.

With exceptional standards of education and professional training, Singapore has a tapented professionals with global exposure and experience. Any investors looking to start a business in Singapore or test the markets would do well in partnering with a reputable professional employer organization (PEO) or employer of record (EOR) in the country. PEOs/EORs in Singapore are able to handle all administrative and legal aspects of having a workforce in Singapore, from contract creation through to renewal or dismissal.

What is a PEO?

A PEO can be useful for many business and recruitment situations. If you are expanding your company into a new market, they can help you hire local personnel without forming a legal entity in the country. A PEO will handle all of your employer’s responsibilities, such as taxes, human resources, and the payment of wages.

This is a great way to save time and reduce costs. In fact, this is why many businesses choose to use our PEO services when expanding their business into another country. You do not have to worry about spending time on the employment process and worry about complex manpower regulations. You can continue your day-to-day management of the company and let the PEO take care of your personnel in the new country. 

Why are PEO Services needed for Business Expansion in Singapore?

Moving your business to Singapore is an enticing and potentially lucrative prospect. The World Economic Forum Global Competitiveness Report declares Singapore as one of the top economies for sustaining inclusive growth. In fact, Singapore is seen by many companies as a gateway to the Southeast Asian market – an economy that consists of 600 million people spread across 10 countries. More than half of the 37,400 international companies have based their headquarters in Singapore, as it is easy to set up a business in the region.

If you want to minimize risk when moving to the Asia Pacific, you’ll want to hire a PEO that is familiar with the economic infrastructure. 

This is where InCorp can help.

As emerging markets turn their attention to Asia, many businesses are looking to establish a Singapore office. InCorp offers a range of solutions for companies looking for dynamic, reliable, and efficient employees based on the island.

Among a multitude of other services, InCorp offers clients:

• Business expansion into Singapore without the need to local and legal entity setup
• Expert business consultancy and support
• Efficient project roll-out
• Support in business process change and accounting system implementation
• Maternity and temporary cover
• Employee resources restructuring
• Qualified candidates suited to your business
• Access to a shared services center

Read more about Singapore PEO at this InCorp Global blog.