As companies discover the advantages of setting up a business presence in Malaysia, they often discover that it can provide challenges. Their newly industrialized market economy is bolstered by one of the best economic records in Asia, and all indicators show that they are poised for continuing, rapid expansion. They’re on pace to rise to the world’s top 20 largest economies in 2050 with a GDP of $1.2 trillion, assisted by electronics and appliance exports, and a stable labor force.
Professional Employer Organizations (PEOs) and Employer of Record (EOR) services allow new Malaysian businesses to hit the ground running. These simplify the recruitment and hiring of employees in Malaysia as they expedite staffing and company setup. Business owners can expand without setting up a legal entity in the country while focusing on company growth and strategy in this growing economy.
Read on as we explore the benefits and ratings of the best Malaysian PEOs/EORs for your needs.
Why partner with a PEO in Malaysia?
Dealing with Malaysian businesses laws and cultural differences can slow market entry. The experience and local expertise of an Asian PEO allows businesses to hire employees in Malaysia efficiently and quickly while remaining compliant with local laws and regulations. As PEOs operate in the country, they manage time-consuming aspects of your business, such as contract administration, benefits, and payroll. Serving as a local partner and EOR in administration, they can prove invaluable for overseas companies.
Best Malaysian PEOs & Employer of Record
New Horizons Global Partners
Based in Shanghai, New Horizons Global Partners leads with a robust client roster that includes Fortune 500 companies. They can secure and administer contracts in Malaysian and guarantee legal and tax compliance. They accomplish this with localized expertise, providing new companies with smooth market entry and seamless employee procurement.
For any company that requires a simplified launch with turnkey management aspects and a full suite of PEO/EOR solutions, NHGP has proven itself to be an invaluable partner in new Malaysian markets
The American company Velocity Global provides end-to-end services for expanding businesses and has a global reach. For research, their helpful online Resource Center offers information on global expansion, the general ins-and-outs of PEO, and suggestions on how to handle onboarding.
With its focus on fast employee launches, Velocity Global has worked in 185 countries since 2014, including Malaysia. They pride themselves on their knowledge base and are currently expanding their cloud-based platform capabilities.
Global PEO Services
A newer company with a diverse client list, Global PEO has a single point of contact and multiple service offerings. Their roster includes over 150 countries.
They emphasize management throughout the cycle of company and employee growth, including long-term hire-to-retire staffing. Their centralized management approach is easily accessible. However, for companies interested in trial market entries to explore growth opportunities, the tailored approach of a localized PEO service could be just as adequate.