Elements Global Services vs. iWorkGlobal: Which Global Expansion Platform is Better?
Every local market is vast for almost every industry, but sometimes, a business enterprise gets big enough to cater to the needs outside the local sphere. The expansion of a business enterprise beyond a locality and the entrance into new territories is not a new concept. Its origin can be traced as far back as the roman empire.
For many organizations, global expansion is a crucial metric in their business goals. As exciting as it is to have the organization’s footprints in multiple countries, the expansion process is not just a daunting task but extraordinarily complex and dynamic. In many cases, the template for instituting an organization’s presence in a country varies. The need to grasp the processes is crucial and vital; else it will significantly disrupt its business activities.
Thus, the creation of Employer of Record (EOR) companies is essential in handling the depth of the complexities and difficulties of globalization so that the expanding organizations can focus on their core business activities.
Elements Global Services and iWorkGlobal are top-tier and two of the most trustworthy EOR partners. These two EOR solutions successfully handle the expansion process, onboarding new hires for organizations, management, and payment of distributed teams.
In this article, the offerings and differences of Elements Global Services and iWorkGlobal will be highlighted to make choosing the best fit for your organization easier.
Elements Global Services
The primary goal of Elements Global Services is to simplify expansion for its hiring organizations. It is no news that globalization is a nerve-racking and challenging process. However, with the right third-party partner to handle these duties, it will be an absolute walk in the park for these organizations.
With Elements Global Services’ presence in over 135 countries, they do more than managing remote employees in foreign countries. Elements Global services stands as an agile solution for global employment and compliance. Understanding that the workforce is the lifeblood of any organization, Elements Global Services goes the extra mile to recruit the best international talents in the hiring organization’s regions.
Other offerings:
ApprovPay: ApprovPay is Elements Global Services global human capital management (HCM) platform to manage international payroll, HR, and benefits administration. With this platform, global payroll is simplified for its hiring organizations.
Expandopedia: Expandopedia is Elements Global Services global HR and tax regulatory compliance tool. It is a SaaS platform that leverages top-tier technology to ensure your organization remains compliant.
iWorkGlobal
With a 97% client retention rate, iWorkGlobal lives up to its mantra of transforming the workforce of its hiring organizations. Recently acquired by Velocity Global, iWorkGlobal provides global expert-level top talents for organizations and fast-track the complicated process of hiring from a different territory.
Since its establishment in 2011, iWorkGlobal has received over 18 awards in tech and services. Its reach has grown to an astounding presence in over 170 countries in the world. By giving the hiring organizations’ workforce a pulse check, iWorkGlobal assesses the hiring talents and provides a detailed risk assessment for each worker’s engagement, and ensures that they are compliant with the labor laws of the new country.
Other offerings:
iWorkGlobal platform: an iWorkGlobal platform allows for the seamless automation of global payroll for organizations. It has a comprehensive map-based dashboard that displays global engagement and details. With this platform, payroll automation is easy, and worker invoices are paid from one intuitive dashboard.
Other trustworthy global HR and payroll platforms -
Skuad:
Skuad is a top-tier platform to build, manage, and pay globally distributed teams without the need to set up local entities. Skuad’s platform is a global infrastructure that provides a single interface to hire and manage employees and contractors. With a focus on Intellectual property, Skuad is a secured platform that protects its hiring organization’s data wherever they operate. With a far-reaching network of over 150 countries, the platform ensures that onboarding is carried out while remaining compliant with the region’s laws on taxation and labor. Other features of Skuad’s unified dashboard include one-click payments, generation of compliant contracts, automation of tax documents, employee benefits, etc.
Deel:
Deel’s decision to streamline their services to organizations that want payroll solutions to only their remote teams has proven to be a significant game-changer. Since its establishment in 2018, Deel recently achieved the status of a unicorn. As a payroll platform developed to reimagine payouts for organizations with global remote workers, Deel has gained a massive global reach of over 150 countries. Its SaaS platform drafts compliant labor laws, automates the collection of tax documents and essentially operates as a trusted EOR partner.
Conclusion
Expanding into new markets is as complex and nerve-racking as any task imagined. However, by utilizing the right EOR partner, these processes can be simplified while allowing them to concentrate on their core business activities. Admittedly, choosing an EOR partner has to do with a preference on what the organization aims to achieve. Notwithstanding, it is best practice and advisable to use an EOR for global expansion into new territories.
