Doing Business in Australia with a PEO/EOR
Australia enjoys a highly developed economy and the largest median wealth per adult, according to 2018 data. While the advancement in technology is facilitating industry growth in finance, education, and media as it is elsewhere in the world, Australia continues to enjoy strong growth in its more traditional mining, tourism, and agricultural industries. The culture, language, and climate make Australia a popular destination for foreign investment, but that does not necessarily mean it is a straightforward process to expand there. For most companies looking to expand into Australia, partnering with a professional employer organization (PEO) or employer of record (EOR) would be a sensible move to ease transitions.
Why Use a PEO/EOR in Australia?
Although the language and culture makes Australia an easy market to enter from a day-to-day business perspective, the same unfortunately cannot be said about the legal and tax system. Australia has a complex immigration system based on points for various in-demand jobs, which makes visa processing alone a tough administrative burden. Partnering with a PEO/EOR, however, can relieve that burden. PEOs/EORs handle immigration and a wealth of other issues related to employment on a daily basis, so whether the issue relates to contracts, onboarding, HR, payroll, social security, tax, or conflicts, the in-country experts have your back.
1. New Horizons Global Partners: www.nhglobalpartners.com
New Horizons Global Partners domination of the Asia PEO/EOR market extends to Australia, and there too it is trusted by some of the biggest household name companies to deliver exceptionally fast and reliable market access through its local consultants. One of NHGP’s core strengths is deep localization, which helps to ensure that businesses not only get set up compliantly and efficiently, but that their staff truly feel at home in their new country.
2. Globalization Partners: www.globalization-partners.com
Globalization Partners offers PEO services in Australia. For clients that want to hire employees and run payroll in Australia, Globalization Partners offers a comprehensive knowledge base on topics like payroll, public holiday, and social security, and can set up some of the key services in the country on behalf of foreign companies. From the website, a potential downside of Globalization Partners is that they seem to target companies looking to establish a small team, whereas others in this list can handle larger team placements. Nonetheless, Globalization Partners is a well-respected global company with a large client base.
3. Global PEO Services: www.globalpeoservices.com
Global PEO Services prides itself on being able to offer an integrated set of services and technology for the foreign investor’s entire business lifecycle, meaning they can be a one-stop-shop for all aspects of expanding into Australia. This certainly proves attractive for many companies, who may be in a position to hand off the entire process to a third party provider assuming the strategic direction and ‘big picture’ aspects of the work have been set.