Hiring staff through an employer of record in Australia allows investors to establish a local team quickly, while also avoiding the need to incorporate a legal entity.
That can be particularly attractive to anyone who only wants to launch a limited-scale or short-term operation, or who only needs a small number of local staff, while also offering investors the opportunity to get to know the market better before making a deeper commitment through the likes of company formation in Australia.
An employer of record is also referred to as an EOR, or a professional employer organization (PEO), while a PEO firm will often advertise its services as payroll outsourcing. As such, it may also be referred to as a PEO payroll company.
Australia has experienced more than two decades of economic expansion and is one of the wealthiest countries in the Asia-Pacific region. The country is well-known for its strong global trade ties, and has free trade agreements (FTAs) in place with a wide range of major economies, as well as regional associations such as the Association of Southeast Asian Nations (ASEAN).
It is also recognized for its favourable business climate, ranking number 14 out of 190 countries in the World Bank’s Doing Business 2020 report.
The country boasts significant agricultural, mining, and manufacturing sectors, with key exports including gold, iron ore, aluminium, hydrocarbons, meats, and cereals.
Meanwhile, the services sector accounts for more than two-thirds of gross domestic product (GDP), which was close to $1.4 trillion in 2019 (all figures in USD).
For anyone interested in doing business in this lucrative market, hiring staff through an employer of record in Australia can be a great way to rapidly get established.
Read on to understand more about what an employer of record in Australia will do for you and the benefits involved in choosing this outsourcing solution, or go ahead and contact us now to understand more about how we can help you achieve your commercial goals.
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What will an employer of record in Australia do for you?
An employer of record in Australia will hire staff on your behalf through its locally incorporated entity, meaning that you will secure local employees in only the time it takes to find them. That could be a matter of weeks or even days, depending on the profile of the employees you are looking for.
While those employees will officially be contracted by the employer of record, you will retain full control over their workloads and schedules, and they will report directly to you as if they were your employees.
In the event you are seeking to hire people for skilled or executive-level positions, you will be able to count on your employer of record in Australia having a good understanding of the best educational institutions and qualifications to be found in the market, meaning that you can count on them to identify high-quality candidates for such roles.
You will also benefit from the guaranteed compliance that comes with hiring via an employer of record in Australia, as explained in more detail below.
An EOR guarantees your compliance
Your employer of record in Australia will have extensive knowledge of the local regulatory regime, be that corporate, labor, or employment law, and will be aware of upcoming changes to such legislation, meaning that you can rest assured that your operations will remain in full compliance with local laws.
That will include implementing proper working hours, providing holidays and leave in accordance with the law, drawing up and implementing contracts that adhere to regulations, and providing you with all of the information you need regarding occupational risks and other key aspects of employee welfare.
While you will not personally be liable for infringements of any such matters, should you be planning a deeper commitment to the market later down the line, you will benefit from maintaining your good standing in the eyes of authorities that comes with full and proper compliance.
Key benefits of using an employer of record in Australia
Hiring via an employer of record in Australia brings with it a number of benefits:
- Rapid establishment, via the EOR’s locally incorporated entity, means you can have staff in days or weeks.
- Reduced costs, associated with not having to establish or liquidate a company, in the event of a short-term or limited-scale operation.
- Local knowledge, which comes from strong connections and years of operating in the country, means you can count on finding the right staff for your needs.
- Risk protection, from the guarantee of compliance and proper implementation of all applicable laws and regulations.
- Market familiarity, which you will generate during your time hiring via an employer of record in Australia, meaning you can make an informed decision about deepening your commitment to the market.
Biz Latin Hub can be your employer of record in Australia
At Biz Latin Hub, our multilingual team of corporate support experts has the experience and know-how to act as your employer of record in Australia. We offer a comprehensive portfolio of back-office services, including company formation, accounting & taxation, legal services, and visa processing, as well as hiring & EOR services, meaning that we can continue to support you should you decide to deepen your commitment to the market.
Contact us today to find out more about how we can support you in Australia, New Zealand, or any of the 16 countries around Latin America and the Caribbean where we have teams in place.
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