The archipelagic Republic of the Maldives is the smallest Asian country, forming an archipelago of
almost 1,000 islands, but the small island country is located on the busy international sea routes and is a
major tourist destination, yet remains dependent on imported goods.
However, expanding a business in Maldives can be a tricky and drawn-out process given the complicated
bureaucratic procedures, cultural differences, and unique regulations.
At ExroAsia, we offer a comprehensive range of outsourcing services to accelerate an organization’s
successful expansion into Maldives. We provide professional employer organization (PEO), payroll, and
employ of record (EOR) services that cover all the administrative tasks and legal compliance work, so
that you can focus on your rapid and successful expansion.
There are a bunch of different ways we can partner on recruitment. We can acquire and onboard new
recruits on your behalf, freeing you up to focus on other business priorities. Additionally, you can
leverage our Maldivian entity to act as your employer of record, saving you the hassle of setting up a
local entity.
If you are expanding your business globally, using an EOR in Maldives can save you a considerable
amount of time and resources. You will not need to set up an entity in Maldives, which can take months,
and you will not need to pay your employees in Asia during that time, you can use EOR services of
ExroAsia and outsource to Asia. This can help you avoid significant delays in your global expansion plans.
We prepare and certify all local employment contracts, making the induction process for you and your
employees more streamlined—all you need to do is provide the necessary information and review and
confirm the employment agreement.
We source talent from Asia, the most skilled and competent workforce required to empower your
business. Talent in Asia is diverse, multi-lingual, multi-cultural and skilled with global exposure. ExroAsia
has a team of experts in the region who work with multiple partners to cater to your requirement within
a short span of time.
Expand to Maldives with ExroAsia
ExroAsia can help you get started in Maldives in a matter of hours which can be financially beneficial if
you don’t have a legal entity in the country yet. Understanding that employees are your most biggest
asset, we provide services with utmost care and decades of collective experience in supporting our
partners expand across the globe.
We manage the payroll, benefits, and expenses in the Maldives for organizations of all sizes, while
offering HR, recruitment, and accounting-related services. We are the one stop shop for all your
outsourced HR needs. PEO services in Maldives and Employer of Record will be cost effective and you
can focus on strategy while we support you with everything you need for your expansion in Maldives.
Our experts can setup operations for you in a matter of days and save you over 80% of expansion costs
even without having an entity in Maldives. We source talent from the most skilled and competent
workforce required to grow your business. Our professional staff in the region is diverse, multi-lingual,
and multi-cultural, with strong professional backgrounds in leading companies from around the world.
We have a team of regional experts working around the clock to link talented professionals to your
organization.
Our dedicated workforce and partnerships guarantee that you will receive customized, consistent and
reliable, enterprise solutions to drive your business needs. From recruitment, hiring and training, to
staffing, payroll, and benefits, to organizational development and employee engagement, we have you
covered! Many businesses look for the right partner to expand their operations, a solution which can
mitigate the risks and lets the company expand with confidence. ExroAsia has many years of experience
with a team of experts on board who can support your growth journey. Drop a message if you would like
to have a chat.
Hire & Onboard Remote Teams Fast with ExroAsia
Companies look at different ways of structuring their business when faced with international expansion. Most companies either send their employees to manage operations in the new country, or set up an independent agency through which to experience growth (e.g. affiliates, agencies, etc.). For specialized and high-end services, some companies look at acquiring a local company or establishing a joint venture to share profits and control.
With economic recession, companies are closing down their overseas branches and offices. They are doing this in order to save money and cut costs. However, instead of closing, these companies are choosing to transfer their foreign branch to a global PEO. Transferring to a PEO will be a lot cheaper, faster and easier than maintaining multiple subsidiary. Global PEOs like ExroAsia offers their low cost services to companies so that they can transfer their foreign company to a PEO.
We recruit, hire, and onboard your team in your chosen market of expansion, and act as your Employer of Record to manage all aspects of their employment, including: – recruiting, hiring, and onboarding – creating and managing their employment contract(s) – managing their payroll, tax, and benefits – answering all types of work-related questions – ensuring regulatory compliance, including through international labor law, immigration and visa requirements.
A global PEO such as ExroAsia can manage your entire business from recruitment to taxation. By outsourcing your HRM, you can cut down on your operational costs and focus more on growing your business. Further, by engaging a PEO, you do not have to worry about complying with complex labor laws or tax regulations.
Our global PEO & EOR solution has helped many entities from different industries who expanded their operations in Asia.
How to Return to Work Safely – Guide to Employers
While many companies have welcomed remote working with open arms facilitating employees to work
from anywhere they like, many multinationals are looking at returning to work for so many reasons.
When many giants focus on returning, small companies tend to follow the trend. Before returning, there
are so many things that have to take place, such as introducing new work policies and bridging gaps in
the existing rules and regulations to accommodate the “new normal” working environment.
Returning to work has to be carefully planned as it is not a simple switch from earlier operating
procedure to the new, where a decision is made and employees are expecting to adhere to it. It is a
complete lifestyle change to employees and unlike the pre-pandemic state, employee well-being and
mental health are given much high priority in workplaces. Driving business needs through flexibility
especially to cater to employee needs is key and allowing hybrid work modes for employees is also
necessary based on job and location.
Providing a safe work environment becomes a mandate, on how employees can be vaccinated, isolated
and given allowance to work from home if exposed to a Covid patient. Using precautionary measures
such as masks, adequate ventilation, spaces and cleaning becomes another area that has to be
addressed with caution. Restating the hybrid work policy, getting in technology to support hybrid work
stations, equipment and tools are also necessary.
If the company decides to opt for a hybrid work mode, where employees divide their time at office and
remote to work which is a favoured option among employees now : both needs have to be balanced
equally. Allowing best of the both worlds, allowing them the freedom to collaborate and commute as
they wish. Employee engagement, basic needs and wellbeing has to be looked into for both options
equally.
Bringing your staff back to the office gradually via a gradual return program can help to reduce the
overall strain on your business, both from a financial and operational perspective, as well as reduce your
employees’ anxiety.
At ExroAsia, we understand the different modes of working available as well as the challenges in
maintaining employees’ health and well-being throughout their working lives. We can help to support
companies returning to the office, those continuing to work remotely, and those developing a deliberate
hybrid model.
Co-Employment and How it can Help Expansion
Co-employment is an employment relationship between two organizations. Often, a client business and a Professional Employer Organization (PEO) share employer responsibilities between them. For many business owners, the beginning of the year is a great time to review the overall financial health of the business. One area that they are often left to ponder is their payroll. Many owners think about outsourcing the payroll, but do not know what exactly outsourcing entails.
In co-employment there are defined tasks that the company manages by themselves. Day-to-day business operations and daily HR tasks which also include employee performance activities are managed by the company. Job targets and KPI’s are also monitored by the company itself in most scenarios. Management of the employee however is taken over by the PEO. Recruitment, placement of employees at different locations on requests, managing payroll, benefits and deducting tax, complying with local tax and regulatory laws and even performing employee surveys and exit interviews become a part of the PEO’s role.
There are many benefits of co-employment for a company that is expanding globally. One of the key benefits is that PEO takes responsibility for the legal and administrative side of employees allowing the company to focus on its core business.
The HR can be agile and managed seamlessly with a PEO onboard in terms of quality, international standards and guidelines. PEO with their expertise in the region can guide a company plus provide additional benefits to the employees such as pension, insurance, medical benefits etc
Payroll planning and management can be done efficiently while PEO would handle paychecks and taxes on behalf of the company, allowing them to focus on strategic expansion. Not just compensation, PEO manages benefits including leave, retirement and entitlements.
Co-employment with a PEO also entails that they support the company have a robust HR strategy to support the expansion strategically. PEO allows the company to take decisions while they focus on growing the human capital and supporting with HR policies and statutes.
There’s lots of paperwork involved in the complex HR responsibilities of a company. Working with a PEO can simplify the HR responsibilities, by taking over the administrative and labor-related tasks of a company and becoming its co-employer.
Outsource to Sri Lanka: Add a Skilled and Resilient Remote Workforce to your Organisation
Sri Lanka is an island country in the Indian Ocean, located in Southern Asia. The country has a rich history dating back over 2,000 years, and is a renowned tourist destination. Sri Lanka is a great place to outsource resources, as it offers a variety of benefits. These benefits include low costs, skilled labor, and a business-friendly environment. Sri Lanka is an ideal destination for businesses looking to reduce costs and increase efficiency. Sri Lanka produces skilled workers for ICT, BPO and management sectors annually where these skilled employees work remotely for many outsourced companies outside Sri Lanka. Technologically savvy with fluency in English and high adaptability and resilience is what Sri Lankans bring into the global work arena, at a cost that is comparatively low to Asian context.
The island is transforming to take reins to become a global IT hub in Asia with resources that is skilled and competent to take over the world. The industry is looking at expanding into IT products, services, software development and BPO centres within the country and working towards exponential growth for the next three years.
The low cost of living in Sri Lanka also makes it an attractive destination for businesses. Colombo is an appealing destination for businesses looking to expand their operations due to its rapidly growing workforce. This workforce is low cost, highly adaptable, English speaking, and loyal, making it an ideal choice for companies looking to tap into new markets Sri Lanka is replete with recreational facilities that are situated no more than a 2-3 hour drive away from Colombo. Exquisite beaches, wild life sanctuaries, cultural heritage sites and tea plantations are just some of the places that can be visited.
There are many reasons to outsource resources to Sri Lanka, but the most important one is the cost savings. With the right provider, you can save a significant amount of money on labor, overhead, and other associated costs. Additionally, Sri Lanka has a highly skilled workforce that can provide quality services and results. If you’re looking to outsource resources for your business, Sri Lanka should be at the top of your list.
Why do you Need an Outsourced Architect to gain Competitive Advantage?
Post pandemic, businesses are suffering with many financial and economic issues which affects a dynamic business. Outsourcing many services is a great way to reduce risks and costs on an operational level, organisations are now open to the concept of outsourcing not just professional services but skilled labor related areas such as architecture.
Outsourcing architectural tasks like design, drafting and 3D modeling, can help free up your time to focus on other tasks in-house. By completed these steps remotely, you can streamline your operation and get more done efficiently.
Here are few ways why outsourcing architect related jobs can gain you competitive advantage.
Architects and Interior designers
Designers can help you make your dream space, whether it is a new construction or a renovation come true. All design related activities such as concept development, drawings and 3D visualization could be provided to the satisfaction of the client.
Skilled draftsmenship
Using skilled draftsmen to draw up high-quality working drawings is time saving. Floor plans, sections, elevational drawings as well as door and window detail drawings could be drawn according to the required specifications using AutoCAD and Revit.
3D modeling and animations
3D models make it easy for the client to visualize the building at the initial stages of design. This gives them a clear understanding of what the final product will look like, and helps to ensure that any changes or adjustments can be made early on in the design process.
Benefits of architectural outsourcing
When it comes to outsourcing architectural solutions, Sri Lanka can be a great option. By working with a team based in Sri Lanka, who are well qualified, you can save valuable time and resources. Plus, you can enjoy peace of mind knowing that your project is in good hands
ExroAsia can provide a range of services if you are looking at outsourcing to Asia, with their wide experience in different sectors they will provide a solution on your specific requirement.
All About Managing a Diverse Workforce
A more diverse workforce brings together a greater number of competent employees from a wider range of backgrounds. This includes employees from different races, genders, social groups, physical abilities, communication styles, and ages. By harnessing the talents and skills of this broader range of employees, organizations can improve their performance and better meet the needs of their customers or clients.
There are few types of diversity, demographic diversity covers race, gender, sexual orientation and age while experiential diversity is where past work experiences, hobbies, interests, cultures and innate abilities are taken into consideration. Interestingly cognitive diversity includes problem solving approach, neuro divergence and social attitudes.
Benefits of having a diverse workforce
Investing in workforce diversity can have numerous potential advantages for your business, from increasing revenue and productivity to improving employee engagement and successful team problem-solving. Making diversity a priority can help you attract top talent, nurture a positive company culture, and stay ahead of the competition.
Diversity is essential for preventing stagnation of corporate culture and maintaining an organization’s vision. By encouraging different perspectives and ideas, diversity helps reduce negative manifestations of groupthink and keeps the corporate culture open to new ways of doing things. This, in turn, helps the organization to stay agile and responsive to change.
Recruiting a diverse workforce
To attract top talent from diverse backgrounds, it’s important to carefully craft job descriptions and advertising materials. Make sure your advertising reaches a wide audience, and that your company is perceived as a fair and reputable employer. When reviewing candidates, be aware of your own personal biases and strive to make objective hiring decisions.
Beyond the job ad, potential applicants will probably take a look at your company’s public image. If the job description mentions commitment to diversity but published data and imagery show that almost all employees share the same characteristics, applicants may be turned off by this inconsistency
Managing a diverse workforce
Although recruitment is an important part of building a diverse workforce, it is only the first step. To truly benefit from diversity in the workplace, employees must have equal employment opportunities and be able to participate on a level playing field.
An organization’s ability to manage a diverse workforce is essential and requires the commitment of senior leaders as well as managers throughout the organization. Leaders should be willing to review and improve organizational structure as necessary, including along the following lines.
ExroAsia is a PEO and EOR company which takes care of your operational HR when companies expand globally. Diverse workforce generation is key and ExroAsia is committed to recruit and manage diverse workforce for your company on request. Please message us for a chat, we will get back to you soon.
8 Tips on Payroll Compliance you can Practice with Ease
As an employer, it is your responsibility to ensure compliance with payroll taxes. There are many things you need to know in order to stay compliant, including: – Withholding taxes from employee wages – Filing quarterly and annual payroll tax returns – Making timely payments to the government Failure to comply with payroll taxes can result in significant penalties, so it is important to understand the requirements and make sure you are in compliance.
Understanding government regulations clearly
Adhering to all government regulations regarding payroll is essential for employers. Failing to do so can result in issues with the IRS and costly fines. Adhering to local payroll laws for each employee is mandatory.
Avoid non-compliance mistakes and penalty
Most payroll laws are relatively straightforward, but non-compliance can result in significant penalties. Small business owners in particular want to avoid mistakes that can have a negative impact on their bottom line.
Classify independent contractors separately
Since independent contractors are required to pay different taxes, employers may want to reduce costs by not making a worker an employee. However, misclassifying an employee can have severe consequences.
Keep required payroll records
The risks associated with not retaining records for the required period of time include the potential for an audit and lack of evidence to support compliance with laws and regulations. Companies have been unsuccessful in legal proceedings due to inadequate record retention.
Keeping a track of overtime and paying on-time
Although it may be a simple error, not tracking your employees’ overtime and fringe benefits can create problems later on if an employee feels like they were shortchanged on their pay. The best way to avoid these issues is to rethink your payroll process.
Introduce a payroll software
Automating payroll can save time and avoid errors. Spreadsheets can be time-consuming and are subject to human error. Automated payroll software can help calculate employee hours, wages, and payroll records accurately.
Outsource your payroll to an expert
If you are running a small business, it may be in your best interest to outsource your payroll to a provider. Your payroll service provider can take care of payments, paperwork, and compliance for you, freeing up time for you to focus on other aspects of running your business.
Maintain a payroll compliance checklist
When creating your payroll, it is important to be aware of both federal and state regulations. You can create separate sections for each when organizing your checklist. Be sure to take a closer look at local laws as well, to make sure that you are in compliance with all relevant regulations.
Understanding payroll regulations and complying for small businesses who are expanding rapidly to different regions can be a daunting task, outsourcing such services to experts such as ExroAsia makes your business safe and secure in the long run.
Types of PEO Insurance Offered for Companies Looking for Global Expansion
PEO insurance is a type of insurance administered by a Professional Employer Organization (PEO). This organization often provides employee health insurance, but could also offer other types of insurance that would benefit employees, such as unemployment insurance or life insurance.
A Professional Employer Organization (PEO) provides payroll and HR solutions for client companies, ensuring compliant payroll, tax withholding, and HR services for employees. Where the PEO operates internationally, it is known as a Global PEO or International PEO.
Some countries do not mandate employer-provided health insurance, but it is customary for employees to expect it nonetheless. In other cases, businesses elect to offer private health insurance as a voluntary benefit to make working with the company more attractive.
Other types of insurance that a PEO may choose to provide include: workers’ compensation, liability, and property insurance.
Workers Compensation
Workers compensation is a type of insurance that reimburses employees for lost wages in the event of an injury, rather than filing a negligence lawsuit against the employer.
Disability Insurance
Disability insurance provides income replacement for workers who become disabled and are unable to continue working. Benefits can be used to cover living expenses, medical treatments and other costs associated with the disability.
Life Insurance
Death is a difficult time for any family, and life insurance can help ease the burden by providing a lump sum payout. This can help cover costs like funeral expenses or outstanding debts.
Unemployment Insurance
Unemployment insurance is a benefits program that provides supplemental income to individuals who have lost their jobs. Unemployment insurance is usually jointly funded by employers and employees, and it provides more financial assistance than what is typically available through social security or social welfare programs.
The original motivation for employers outsourcing health insurance may have been simply due to the efficiency benefits: By having a third party provide the insurance, the client company could focus on its core business.