- Overview: Senegal
- Global PEO and payroll
- Global HR Compliance
- Work permit for hiring expats via PEO
- Expand without a company set up
- Contractor vs. employee: which is better?
Global PEO and Payroll in Senegal
One of the first questions you may have when considering expanding globally is about the legal framework for different types of business entities. While this can be a complicated topic, there are some essential basics to help you understand:
All businesses, whether in your home state or another country, have a legal structure that dictates exactly how the business will be run and who is responsible for what. These structures will vary somewhat depending on where you’re doing business. Some structures are more complex and expensive than others, but they all have benefits and drawbacks.
What is a Global PEO (Professional Employment Organization)?
Quick and easy market entry or exit with a global PEO (Professional Employment Organization) means you can grow your international business faster. Acumen PEO’s global presence can help you avoid the costs of establishing local employment infrastructure, IP protection, and HR compliance issues – all while you remain in full control!
For multinational businesses looking to enter a new market, ensuring their employees are eligible to work in the country can be an enormous effort. So much time is wasted on paperwork and legal and compliance requirements research.
As a global PEO and payroll solution provider, we can help you manage and coordinate your global employment needs, including foreign workforce immigration support. With our complete global employment solutions, delivering global payroll, administration, benefits, and immigration support, we ensure quick market entry into any country in a simple, hassle-free, and cost-effective way.
How Does a Global PEO Work? What Is the “Co-employment” Model?
Organizations that partner with a Global Professional Employer Organization (PEO) enjoy many benefits. By working with a PEO, businesses can take advantage of a co-employment relationship which can free up time and resources that can be better spent on strategic decision-making and business growth. Global PEOs are responsible for payroll, withholding and paying payroll taxes, managing compensation and benefits coverage, and providing HR compliance guidance.
The global PEO becomes a co-employer of the organization’s employees, and PEO shares the employment responsibilities of the client organization. PEOs assume many administrative and HR compliance tasks that businesses would otherwise have to handle, giving business owners and management teams more time to focus on running their companies.
In addition, Professional Employment Organizations can provide valuable services and expertise that businesses might not be able to access on their own. Using a global PEO and payroll solution can be a great way for businesses to improve efficiency, save time and money, and gain access to valuable resources and expertise.
Acumen’s Global PEO and Payroll solution was designed especially for companies like yours to smooth the way for quick, easy, and risk-free business operations in Senegal without establishing a legal business entity.
What Services Does a Global PEO (Professional Employment Organization) Provide?
- Global Payroll management;
- Compliance with local tax rules (file & deposit) of the country where the EOR company is located;
- Handling compliant employment contracts:
- Background, education, and other checks;
- Onboarding and termination processes, as well as employee’s compensation;
- Arranging visas and work permits for employees;
- Ensuring the working process is organized under local labor laws;
- Processing workers’ medical insurance and other benefits (day-offs, bonuses, and more);
- Global employment process maps, matter maps, employment guides, and other documentation.
Why Use a Global PEO?
Expanding your business globally can be risky, but by partnering with a global PEO, you can stay flexible and mitigate major global expansion risks. This allows your business to enter new markets securely and efficiently while knowing there is always an exit strategy available if needed.
With a global PEO partner, you can test the waters before making a permanent commitment. Before you decide to invest in offices, equipment, and employee training at an overseas location, you’ll get valuable information about whether the location will be successful by seeing how well operations are received via a third party before committing to managing them yourself.
In addition to helping with taxes and payroll, global PEOs can also help handle things like relocation, providing temporary housing and support while you find a permanent location for your employees to live.
Why Should You Choose a Global PEO Service Over Setting Up Legal Entities?
As your business expands globally, it is essential to be agile to make the best decisions for your company. Markets and consumer demand are constantly changing, so it is vital to be as flexible as possible. The more agile you are, the easier it will be to make the right choices for your business.
Outsourcing can be an excellent way for organizations to save money and increase efficiency. By carefully selecting which global employment functions to outsource and working with a trusted partner, businesses can reap the benefits of outsourcing without putting themselves at risk. Outsourced standard functions include payroll, benefits, and absence management, but the decision of which functions to outsource should be made case-by-case. With careful planning and execution, outsourcing can help your organization run more smoothly and save money in the long run.
When expanding your business into new countries, there are many benefits to using a global PEO (Professional Employment Organization) or EOR (Employer of Record). A Global PEO and EOR Partners can handle all the immigration, hiring, payroll, tax, and HR compliance for you, freeing up your time to focus on other aspects of running your business. And if you ever need to leave the country, you can do so without being tied down by any long-term commitments.
The main benefit of using a global PEO versus a new entity for your business setup abroad is a lack of administrative cost and burden. Your global PEO and payroll solution provider will handle the complex logistics of staying compliant and managing your international employees without a legal entity. However, you ultimately have the final say on what gets done. Also, by going this alternative way, you still get the most considerable benefit that setting up a foreign entity could give you – expanding your presence in a new and lucrative market.
Difference between a Global EOR and a PEO. Employment Risk Mitigation Strategy
When expanding your business into new countries, there are many benefits to using a global PEO (Professional Employment Organization) or EOR (Employer of Record). A global PEO or an EOR is an alternative to hiring your employees via an in-country legal entity. Instead of hiring your employees, you contract with a global employment solutions provider to hire and manage them for you.
A Global PEO and EOR Partners can handle all the immigration, hiring, payroll, tax, and HR compliance for you, freeing up your time to focus on other aspects of running your business. And if you ever need to leave the country, you can do so without being tied down by any long-term commitments.
However, both global PEOs and EORs work differently. So, it’s important to understand the differences between the two, so you can find the right one for your needs.
The main difference between a global EOR and a PEO is how they hire the workers. A global PEO assigns employees to the client company for employment so that it can replace the clients in their duties of hiring and managing the employees. The PEO is not a direct employer on paper. An EOR, on the other hand, is an employer of record in the country of business. They hire and terminate employees on behalf of the client company.
|Employment Model||Co-employer||Sole Employer|
|Key Services||Global employment, payroll, benefits, immigration (visa, work permits), mobility||Global employment, payroll, benefits, immigration (visa, work permits), mobility|
|Local Entity Establishment||Required||Optional|
|Liability||Shares responsibilities and liabilities||Assumes all responsibilities and liabilities|
|Global Labour & HR Compliance||Optional||Required|
How Much Does a Global PEO Charge?
Payroll taxes and service fees can be a big burden for employers. Many companies choose to use a Global PEO (Professional Employer Organization) to help with these costs. PEOs typically charge a percentage of the total payroll, including employee insurance fees. It can be difficult to determine the actual costs for these services, especially when some employer taxes are only paid on wages up to a certain threshold.
Single Global Service Agreement
A global PEO can cover all your international projects within a single contract and add new employees and services as you expand your global workforce in the new countries.
No Required Minimums
We accept projects of any length, with any number of employees.
Whether you need to scale up or down, we adjust your pricing based on the project employee number.
End-to-end Global Employment Solution
We manage all your global services, including employment, recruitment, immigration, legal and global HR consulting, saving you valuable time. And Acumen International covers the cost and saves you the effort of finding and selecting local employment-related service providers.
How to Choose a Global PEO (Professional Employer Organization) in Senegal?
When looking for a professional employer organization (PEO), it can be difficult to know which one will be the best fit for your business. What questions should you ask? What are some red flags? And what do you look for in an international PEO?
The short answer is: carefully. You need to find a global PEO company that can address your industry’s challenges. The needs of each business are unique, and the same goes for international PEOs. A good global PEO and payroll solution has a strong track record and fiscal stability that can provide comprehensive support and compliance expertise. Make sure they offer services and coverage in all your business areas. Get references from other clients in your industry to ensure you make the best choice for your business.
Acumen International – Your Single Point of Truth and Global Employment PEO Solutions Provider in Senegal
- 100 % compliant, quick, easy market entry. Acumen Global PEO is your local legal entity, helping you reduce the cost and time associated with incorporating
- Immediate global employment service coverage in 190 countries
- Both a single point of contact and a dedicated account manager for your project for all target countries
- Compliant and secure global employment operations. We help you adhere to all local laws and regulations in 190 countries
- A single contract for all in-country services (employment, immigration, legal, etc.)
- A single PEO provider assumes full responsibility for your international employees in multiple countries
- Payments are made within the UK or to the UK bank company account
- Fully compliant with standardized procedures and reporting systems
- You can delegate to Acumen Global PEO all HR responsibilities Payroll & benefits administration, background checks, and HR helpdesk
- Standard payroll breakdowns for all target countries
- As soon as we receive your request for a project in any country, we will send you a payroll breakdown and offer within 2 working hours
- Full 100% fee money-back guarantee for the employee or contractor payment delays
- Tailored and 100% compliant employment contract drafts
- With Acumen in your corner, you can quickly and easily onboard and compensate your employees without risk of legal repercussions
- Acumen Global PEO protects your company’s Intellectual Property rights
Acumen International is here to help, from payroll and tax management to social security disbursements and immigration services. We’ll give you the peace of mind you need and reduce your company’s legal costs by 50% or more.
|Our Global PEO&Payroll||Client|
|Employment risks mitigation|
|Tax compliance & payroll processing|
|Incorporation costs||no need for own
|Coverage||190 countries||190 countries|
Global Payroll Calculator: Accurate Global Employment Cost Estimation
When hiring employees and contractors across the globe, you may not be choosing the most cost-effective and business-friendly country.
- Do you know which country is the most cost-effective place to hire employees?
- What are the costs of entity establishment and legal representation?
- What are the payroll costs and management fees?
- What are your ongoing annual tax compliance costs?
- Are you fully aware of banking implications?
- Did you know that labor laws and hidden costs could make your company less efficient when choosing a country to run your business?
- Did you know that there could be a more cost-effective country to hire employees in and save up to 50%?
This is because countries have different labor laws, compliance, and tax regulations. What if, instead of limiting your company’s international expansion by cutting through the jungle of local regulatory compliance, tax, labor, and immigration requirements, you could have all the information of 190 countries at your fingertips?
Acumen International offers the Global Payroll Calculator to help businesses understand the compliance requirements for conducting business in a new country. Acumen’s research team tracks developments in 190 countries around the globe. It provides up-to-date data on local regulations related to tax, payroll regulations, benefits, hiring practices, compliance requirements, and other labor-related factors that impact an employer’s bottom line. This valuable information makes the Global Payroll Calculator an invaluable tool for businesses looking to expand internationally.
Global Payroll Calculator helps companies reduce labor costs by providing up-to-date information on hiring, compensation, and tax requirements. It is also an ideal tool for quickly locating employees in any country.
Disclaimer: Any above information is subject to changes imposed by Senegal’s laws. To get the latest updates on taxation in Senegal and 190 countries worldwide, contact Acumen’s team of global employment experts.