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Hiring, Paying and Retaining Employees Across the Globe: Compliance & Best Practices
 

Hiring, Paying and Retaining Employees Across the Globe: Compliance & Best Practices

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Video & Slides: http://www.proformative.com/events/hiring-paying-retaining-employees-across-globe-compliance-best-practices ...

Video & Slides: http://www.proformative.com/events/hiring-paying-retaining-employees-across-globe-compliance-best-practices

As your organization expands internationally, the complexity of your operations will increase, and the manner in which your company hires, pays and retains your employees is critical to driving sustainable growth in international markets. Processing multinational payrolls, expatriate vs. in-country staffing to engage and retain the right talent, paying employees on time, and complying with local regulations can leave room for error, and lead to significant compliance and business risk exposures. Join us to discover the best practices and common pitfalls when planning for and executing your international staffing strategies. If your company is preparing to expand internationally, or already has overseas operations, you won’t want to miss this event.

Speaker: Katie Davies, Senior Director, HSP

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  • Employment terms/benefits may depend on location.Without an entity, employee roles need to be clearly defined in contracts to avoid PE risk.France: May end up paying above market rates for additional, mandatory benefits (think CBAs)U.K.: As a result of direct debit requirementAnother issue- obtaining credit for basic equipment (cellphones, IT, leases, etc.) may be difficult with NRE
  • Largely a finance and tax matter, but will impact how benefits are sourced and administered.Ideal world: Structure options should be decided long before the hiring process starts.
  • Keep an open mind and be ready to modify your processes. Expect the unexpected.
  • Though very effective in the U.S, the standard American offer letter is generally not allowed outside of the U.S. PAY:Good to state this is GROSS. Currency choices that are not local can lead to issues exchange rate is not addressed in a contract.PTO: PTO requirements vary by country. Additionally, individual countries may not permit PTO as a catchall for all time off, with vacation, sick and personal time requiring different allowances, rates of pay and carryover rules.STOCK OPTIONS:Certain countries have rules surrounding issuance of stock options that can subject your employees to major tax consequences. AT WILL CLAUSE: Doesn’t exist outside of U.S.; contract needed.

Hiring, Paying and Retaining Employees Across the Globe: Compliance & Best Practices Hiring, Paying and Retaining Employees Across the Globe: Compliance & Best Practices Presentation Transcript

  • Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Hiring, Paying and Retaining Employees across the Globe: Compliance & Best Practices
  • • Discover key tactics to acquire and engage talent for international operations • Understand how to mitigate key operational risk exposures when expanding across borders • Understand key issues and trends in multinational payroll
  • • • •
  • Ask, Share, Learn – Within the Largest Community of Corporate Finance Professionals Hiring, Paying and Retaining Employees across the Globe: Compliance & Best Practices Katie Davies, Senior Director, Advisory, High Street Partners
  •       Company structure can dictate elements of your benefits plan
  •       
  •  • • •   
  •    Remember: Everything will be different overseas
  • Dear Jane Doe, On behalf of XYZ INC. (the “Company”), I am pleased to confirm our offer of employment to you for the position of EMEA Regional Sales Director … You will be paid a base salary of $5,000 per month less applicable tax and other withholdings. You will also be eligible to participate in various Company fringe benefit plans, including group insurance and 401(k) programs. You will also be eligible for fifteen (15) days of paid time off (PTO) each year. Subject to the approval of the Company’s Board of Directors, you will be granted an option to purchase X shares of Company common stock…. Your employment with the Company is “at will.” It is for no specified term and may be terminated by you or the Company at any time, with or without cause or advance notice…