As a recognized leader in the Employer of Record (EOR) industry, G-P is always advancing the conversation around the future of work and the new opportunities our EOR solutions are helping to create. In a recent episode of our Pangeo Perspectives podcast, we explored the flexible work models that benefit both employers and employees.
As technology continues to progress and possibilities abound, employment models are rapidly shifting. From project-based workers to full-time employees and everything in between, today’s workforce is more diverse than ever. So the question is: How can companies adapt their work models to work for everyone?
On our Pangeo Perspectives podcast, Tiffany Cruz, Senior Employment Counsel Manager at G-P, and Michelle Feddersohn, Senior Director of Global Payroll at G-P, discussed the changing relationship between employers and employees, and how companies can build new work models that work for both them and global talent — all while remaining fully compliant in a rapidly changing global environment. Here are some key takeaways from the conversation.
Embracing more flexible work models to power your business
There are plenty of challenges when it comes to flexible work models, but there is also much to gain — one significant benefit being access to a global talent pool. The perfect person for your open role could be in another country, and with modern work models, you’re no longer contained to candidates within your immediate vicinity. This global approach also gives you the ability to embrace diversity of culture and thought by hiring people from different backgrounds, adding tremendous value to your organization.
When companies provide flexibility, employees take notice. Embracing more flexible work models can result in greater productivity and greater talent retention. When you let employees work in ways that work for them, support them with relevant benefits, and embrace asynchronous tools so they can work within their own time zone, your teams will feel seen and cared for, making them more likely to do quality work and stick around for longer.
But for companies to truly compete on a global level, it takes having solid frameworks — adjusting your plans, approaches, and policies — and the flexibility to meet potential new team hires with adaptable work arrangements.
Remaining compliant amid constantly changing laws and regulations
With greater flexibility comes greater legal responsibilities. As global mobility gains momentum, local laws and regulations are evolving faster than ever. Remaining compliant in an ever-shifting atmosphere can be a challenge for growing organizations.
Global growth hinges on executing locally, so it’s essential to have in-depth knowledge of the market you’re entering. For example, in the U.S., each of the 50 states has its own statutes and regulations that companies need to be aware of when doing business there.
One way to avoid all the red tape and ensure compliance is by partnering with an Employer of Record (EOR) like G-P. We can help you find, hire, and manage talent in 180+ countries, without setting up new entities. Having access to a team of legal and HR experts with extensive experience in global employment helps mitigate compliance risks while enabling the flexibility you need to adapt to different work models.
Hiring contractors to give your business a competitive edge
The ability to hire contractors anywhere opens up a world of possibilities and gives companies the flexibility to hire workers when they’re needed most and prioritize resources. Having a subject-matter expert or a regional specialist in your target country could be the edge your business needs, and independent contractors make it possible.
However, worker misclassification is a common pitfall that can expose your business to stiff fines and legal penalties. So when considering the contractor route, compliance is crucial. Since worker classification rules vary by country, make sure to research the specific regulations in your target location to understand what qualifies a worker to be a contractor vs. an employee.
Finding the work model that works for your business
There is no one-size-fits-all approach to business growth, which is why finding a work model that works for your organization is an individualized journey. A good starting point is understanding the full employment lifecycle and your compliance necessities. From there, you can map out what the path to success looks like for your company and determine how a flexible work model could benefit your teams.
For more in-depth insights and expert commentary on this topic, listen to the full episode of New Work Models that Work for us All, delve into other related podcasts in the Pangeo Perspectives series, or check out our 2023 Global Growth Report to discover how other industry experts are seeing the future of business.
As the recognized leader in the global employment market and standard bearer for industry compliance, we continue to pave the way with new technology for new times. The #1 Global Growth Platform™ helps companies find, hire, and manage global teams in 180+ countries, quickly and compliantly. G-P continues to gather key perspectives and insights from growth-minded leaders, HR innovators, and entrepreneurs from around the world through our Pangeo thought leadership efforts as we help shape the global growth conversation.
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