- Overview: Honduras
- 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 Honduras
Now is the time to expand your business overseas. With a well-crafted plan, you can enter into new markets and start generating revenue from them. If your competitors are doing it, there is no reason why you shouldn’t be able to do it as well. As the CFO or COO of your company, you are in a prime position to make this happen. Delegate the task to someone you trust who has the time to see it through.
12 Burdens a Global PEO Can Relieve for Your In-House HR Department
- Global expansion complexity
- Global payroll administration
- Employee benefits administration
- Drafting compliant employment contracts to adhere to local labor and tax regulations in 190 countries
- Lengthy onboarding
- Complex and risky offboarding
- Background checks
- Workforce compensation administration
- Compliance assistance
- Guidance on best practices of voluntary benefits provisioning
- Immigration and relocation support for your ex-pat workforce, such as visa sponsorship and securing work permits
- Lack of institutional knowledge.
What is a Global PEO?
PEOs are professional employer organizations. That means they offer comprehensive HR solutions for small businesses across the country. By paying a single fee per employee, employers can outsource all their HR needs to an expert who specializes in managing this aspect of their business. Some services provided by PEOs include
- Payroll processing
- Benefits administration
- Tax reporting
- Workers’ compensation insurance
- Labor and tax compliance
Outsourcing some global employment and HR functions to a PEO and payroll provider means that the business owner is not bogged down with processing payroll, benefits, or securing visas and work permits. Instead, they have more time to concentrate on other company matters, including big-picture issues.
Why Use a Global PEO?
The best global PEO and payroll solution is worth its weight in gold because of the services it provides. Without this kind of global employment support and talent engagement model in today’s fast-paced workplace environment, you will most likely not be able to compete on a global scene with other companies that have one.
PEOs are an exciting new trend in the business world. Initially created to help small businesses manage their employee benefits, PEOs are now being utilized by big corporations and start-ups alike. They offer many benefits that can help companies save money, including the ability to bundle services from multiple providers, lower prices for employee benefits, coordinated global administration payroll and benefits administration, and streamlined global employment compliance.
The greatest benefit of these organizations is the ability to outsource the time-consuming tasks associated with running a company while focusing on your organization’s core business. PEO’s also work well for companies with multiple locations or remote workers because they provide uniformity regarding worker experience. They can integrate any new hires into the overall culture of your organization.
A Global PEO Can Help You Replace Numerous Vendors
If you’re looking to streamline your company’s operations and get a handle on global workforce management, partnering with a global professional employer organization (PEO) can be a great solution. PEOs can provide a full suite of services to help you replace the following numerous vendors.
- Payroll Company
- Employee Benefits Broker
- HR Consultants
- Background Checks Vendors
- IP Attorney
- Tax Advisor
- Translation service
- Legal Advisor
- Immigration Advisor
- HR Compliance Advisor.
- Licensing Consultancy
How to Choose a Global PEO (Professional Employer Organization) in Honduras?
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.
How Much Does a Global PEO Charge?
Global PEOs typically mark up payroll totals by a certain percentage to cover taxes and fees. This figure can vary depending on the size and scope of the business. Some PEOs also include the cost of employee insurance plans in their overall percentage, while others bill for these separately. It can be difficult to determine actual costs since some employer taxes (state and federal unemployment taxes, Social Security) are only paid on annual wages that exceed a certain threshold.
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 labour 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%?
- How to hire international teams without setting up a local entity?
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?
The Global Payroll Calculator is built by Acumen International 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.
Acumen International – Your Single Point of Truth and Global Employment PEO Solutions Provider in Honduras
- 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|
Ready to get started?
Global Employment Services: How a Global PEO can Help You in Business Transition
Acumen International is a global employment (PEO and EOR) company that provides services to businesses during international transitions. Acumen understands how employers can benefit from outsourcing their human resources management and the challenges an employer faces during this period of change. Acumen can help minimize these risks by offering businesses compliant and secure global employment services.
Acumen International provides flexible solutions tailored to your company’s unique situation. Acumen helps clients manage the fallout of an acquisition or merger by providing professional experts who can support and guide them through the HR changes they’re facing.
With global PEO support from Acumen, you can access local HR experts in 190 countries who are knowledgeable about your global employment needs. By partnering with Acumen Global PEO, companies in transition can ensure compliance with termination procedures, protect their employees’ benefits and reputation, and avoid unfair dismissal claims.
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|
Disclaimer: Any above information is subject to changes imposed by Honduras’ laws. To get the latest updates on taxation in Honduras and 190 countries worldwide, contact Acumen’s team of global employment experts.