More and more companies are taking advantage of a new borderless workforce and expanding or introducing operations into new countries. And the high growth region of Asia-Pacific (or APAC) is particularly inviting to multinational corporations seeking expansion. As APAC is home to two-thirds of the world’s population, and many of its nations are experiencing rapid business growth, the region is a great place to find the qualified talent needed to help a company succeed.
Although APAC has much to offer expanding companies, setting up operations can be particularly challenging. Managing employees in a new culture who speak a different language can be difficult enough; making sure they are paid in accordance with all of the local rules and regulations, which can vary from city to city and by type and level of employment, makes things even more complicated. And when companies don’t comply with such regulations, they face stiff fines and steep penalties.
Rather than trying to handle these complex payroll procedures themselves, many organizations turn to CloudPay, an experienced global payroll provider, to help them overcome some of the biggest challenges as they expand in the APAC region. Through CloudPay’s SaaS-based global payroll solution, organizations who partner with CloudPay have a cost-effective method for automating and standardizing their payroll procedures in each country in which they operate. Additionally, CloudPay’s experts stay on top of the latest legislation changes in each country, ensuring organizations are up to date and in compliance with all regulations.
To further assist companies considering expansion into the APAC nations, CloudPay will provide an overview of the payroll procedures of some of the most rapidly growing markets of the region in the coming weeks. So check back soon to learn all you need to know about hiring employees in Hong Kong, Singapore, China and the Philippines – and how CloudPay can make operations in these countries as smooth and successful as possible.