A highly developed market economy and strategic location continue to make Australia a leading player in the world’s trade sectors. GDP has remained steady for years. As a member of the Asia-Pacific Economic Cooperation, (APEC), G20, Organization for Economic Co-operation and Development (OECD), and the WTO, it has a broad appeal for foreign investors. Australia is very supportive of entrepreneurial growth, with government initiatives and a thriving economy that encourages new business development. The government is pushing strongly for growth in the areas of cybersecurity, infrastructure, and digital payment platforms, making tech startup entries very appealing.
With four legal business structures, making an entry into the Australian market can become complicated. The most popular solution for any start-up interested in testing out the possibilities of a new Oz business is to partner with local Professional Employer Organizations (PEOs) and Employer of Record (EOR) services.
As they operate as legal employers, they can handle everything from hiring and human resources to payroll and other benefits management. They make the transition into the country much faster and more simple than undertaking it alone, and can expedite nearly every facet of employee onboarding.
We’ll look at more benefits of Australian PEOs/EORs, and look at the best ones for your needs.
Why partner with a PEO/EOR in Australia?
Despite the friendly climate towards foreign businesses, the initial set up and launch of a business can be slow. A local PEO/EOR presence is invaluable. In addition to handling the legal hiring of talent, they can continue to handle the variety of HR issues that are covered under their umbrella.
Best Australian PEOs and Employer of Record
New Horizons Global Partners: www.nhglobalpartners.com
With headquarters in Shanghai, New Horizons Global Partners are leaders in providing comprehensive support services for Oceanian business ventures in a variety of countries. NHGP has a diverse worldwide portfolio that includes Fortune 500 companies. In Australia business expansions, their local presence extends to staffing, recruitment, entity setup, and more. Tailored solutions are key to their fast growth in the country.
For businesses that want to try out the market in Australia, New Horizons offers a full suite of PEO/EOR solutions. A reliable partner in delivering turnkey business openings, they can handle everything from finding office space to recruiting and managing staff. It’s a simple answer to the question of how to explore the possibilities without setting up legal entities for hiring.
Papaya Global: www.papayaglobal.com
A presence in more than 100 countries has positioned Papaya nicely in the Australian PEO game. Their workforce solutions, powered by an online SaaS system, allow clients to interface with HR and payroll areas while remaining remote. For new companies that have found their own local specialists in Australia, they can offload HR support issues to their all-purpose system.
Papaya promotes fast onboarding and recruitment solutions as they handle hiring and workforce management as the legal employer.
Globalization Partners: www.globalization-partners.com
Serving 170+ countries to date, Globalization Partners is experienced in foreign market entry. Their global platform deployment can provide a nearly hands-off approach to payroll and human resources management. By keeping it all in-house, their reach is quite broad.
GP’s sheer size can limit the qualities that a company looking for more personal solutions might require. It’s possible that a PEO/EOR with local consultants can provide a more tailored solution for new businesses.