With the rise of world trade and developments in technology, it has become easy for companies to extend their operation across countries boundaries. This leads to challenges of going around unfamiliar laws and regulations in various nations when expanding globally. These are the reasons why one may need PEO (Professional Employer Organization) and EOR (Employer of Record) services.
Understanding the Malaysian Talent Pool
Malaysia is a vibrant country with a rich array of cultures and ethnic groups. It is inhabited by young, well-educated, and technically oriented population that forms workforce. Malaysian talent pool, with its proven work ethos, ability to adapt, and fluency in English, provides ideal opportunities for companies exploring opportunities in Hong Kong and Malaysia.
Benefits of Hiring Malaysian Talent
The Advantages of Involving Malaysian Talent in Your Business. Here are a few:
Cultural Understanding: Malaysians know the intricacies of the local culture and business etiquette in Malaysia and Hong Kong. This knowledge is indispensable for movement within these areas.
Language Proficiency: Malaysians are mostly fluent in two languages or three; consequently, they speak English very well. Thus, facilitating smooth and effective communication.
Tech-Savvy: There is a great level of digital literacy in Malaysia. The younger generation is particularly more technology savvy and responsive to new technological advancement readily.
Cost-Effective: By hiring the talented people of Malaysia, firms can still produce high-quality results at a lower cost than in other regions.
Strategies to Unlock Malaysian Talent
There are 3 primary strategies you can adopt to leverage the potential of Malaysian talent for your company located in Hong Kong:
- Visa Application and Relocation
- Establishing a Malaysian Branch
- PEO or EOR
It has to be borne in mind that such activities as visa application and setting up of a company in Malaysia are quite complicated processes legally speaking, costly and lengthy. This entire process can also be simplified using that of a PEO or EOR, so as not to require visa application and company incorporation in Malaysia where they have to follow certain local rules. This makes everything straightforward, thereby making it a straightforward process without violating any legal or regulatory considerations. In our previous article, we discussed PEO and EOR in detail. For a comprehensive understanding, dive into the provided information.
PEO Services in Malaysia and Hong Kong
Contractually, a PEO service implies that an organization enters into a relationship with a PEO that has the PEO act as a co-employer of its workers. In this relationship, the PEO takes charge of personnel recruitment and overseeing administrative issues linked with payment, benefits and employee taxation. Such service enables a company to enjoy more flexibility at reduced costs while fulfilling legal obligations.
EOR Services in Malaysia and Hong Kong
These services involve a formal contractual arrangement between a company and the EOR in which the EOR becomes the legal employer for all its employees in Malaysia or Hong Kong. This facilitates the hiring of local employees without the company having to set up a physical base in the country. The EOR handles all legal compliance aspects while the company remains wholly in charge of every activity and task done by their employees.
In our recent article, we discussed the success story of enhancing business efficiency through the exploration of PEO and EOR services.
There are a number of advantages of hiring Malaysian talent by firms expanding their operations in both Malaysia and Hong Kong. Companies can reduce risks of hiring through the use of PEO and EOR services, and thereby remain compliant with local labor laws and practices. The presence of Malaysian employees with different skill sets, cultural understanding and affordability provides a good opportunity to boost a business in both countries that borders Malaysia and Hong Kong. Utilize this competent employee pool for your company’s expansion endeavors. Contact FastLane Group – Get in Touch Today!