Streamlining US Employment and Human Resources Management
As international firms scale in the US market, they increasingly face the burden of navigating a complex regulatory environment that differs from state to state.
This is particularly true when it comes to employing people. All US employers must comply with both federal and state labour regulations governing everything from workers compensation insurance, employee benefits and payroll taxes.
Key differences exist with how US workers access healthcare and how companies approach safety and risk management in the market. Furthermore, international investors must ensure they classify employees in accordance with Internal Revenue Service (IRS) frameworks and that state and federal payroll taxes are remitted as appropriate.
International investors employing people on the ground in the US face a steep learning curve from a compliance perspective—even US domestic firms find their compliance responsibilities as an employer burdensome. For this reason, many US companies outsource the management of payroll and human resources to experts such as Professional Employer Organizations (PEOs).
In episode 4 of the America Made Easy Podcast, we explore the compliance requirements that international companies employing talent in the US face and consider options for managing those responsibilities with Josh Balster, President and CEO of Avitus Group. Josh leads the Avitus International Team and in Episode 4 shares his years of experience helping international investors work through their employment challenges in the US market. We talk through the PEO model in the U.S. and how international investors can leverage it to streamline payroll and human resources so that they can focus on revenue growth.
Tune in to our 4th full length episode to gain a deeper understanding of the unique aspects of people management in the US market and tools available to companies, such as Co-Employment, to ensure they do not run afoul of federal or state regulations. This episode will leave listeners with a clearer understanding of how they can move forward with their U.S. hiring and human resource management in a way that minimizes overhead and provides their employees with the benefits essential to maintaining great talent.
Value Bombs from the Podcast
- Companies with 50 or fewer employees in the US are not required to provide access to healthcare coverage for their workers.
- Workers Compensation Insurance is mandated at the state level in the US for companies to have in place for all employees regardless of their work duties.
- PEO partnerships can allow small businesses in the US, whether international or domestic, to extend high quality corporate style benefits such as a 401k, dental and vision coverage etc. to their employees.
Resources Mentioned in the Podcast
Working with Americans: How to Build Profitable Business Relationships
By: Allyson Stewart-Allen and Lanie Denslow
-Download 2 free chapters at: http://www.workingwithamericans.com/downloads2.2.html
-Our listeners can order the book and claim a 20% discount with the code “WWA20” at http://bit.ly/WWA-order-Routledge. Note the code expires on 31 December 2020.
Support for America Made Easy comes from Newable Avitus the Transatlantic Joint Venture supporting ambitious SMEs with setting up in the United States. We help make entrepreneurs lives easier by providing an operational solution for their US expansion strategies so that they can focus on driving revenue and doing what they got into business to do in the first place.
Newable – On your side in the UK
Newable helps companies thrive by providing the essential resources they need to take the next step with their business by offering financing, premises and professional support. Newable works with 22,500 businesses a year at the heart of the UK economy, helping people start, scale and sustain their enterprises. Newable’s purpose is to achieve profit and social impact in equal measure.
For over 20 years, Avitus Group has provided business administration services for more than 3,000 companies in the US. Avitus Group’s Business Solutions includes a suite of specialist services designed to help clients simplify, strengthen and grow their business. From planning your entry into the US market to helping you sustain your business, Avitus offers the combination of customised and comprehensive support you need.
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