Running a start-up can be exhilarating, charged with activity and collaborative, but with the highs of starting a business come the lows. Every start-up will come across challenges, especially in competitive business environments like New Zealand.
When it comes to hiring in New Zealand, it can be challenging for start-ups to attract desirable talent when their brand and reputation is lesser-known than other major corporations.
Start-up operations often have a limited budget to work with, which means they can find it difficult sourcing talent with the right skills they need to fulfil the tasks of their open roles. It can be a challenge finding the right talent who share their passion for the business.
Hiring can cost around 75% of an employee’s salary when you factor in entitlements, induction programs, training and recruitment expenses. So, without proper funding, gathering enough finances to hire a full team can be enough for any start-up business owner to tear their hair out.
You’d be forgiven for thinking it impossible for young businesses to expand into New Zealand, given the inherent challenges. If start-ups are experiencing the risks and adversities that they do in their flagship country, how can they be expected to flourish in New Zealand? Most start-up executive teams are armed with vision and passion for their ideas and not the technical know-how or experience to turn those dreams into a reality.
Without enlisting the help of ANZPEO to help your start-up take off in the country, the challenges that come with operating under new laws and market can hold too much load for a small business to bear.
What is a PEO?
A Professional Employment Organisation (PEO) is a dedicated payroll agency that your business partners with and pays your workers on your behalf. For instance, ANZPEO would share joint responsibilities regarding specific HR tasks and become your workers’ employer of record so that your international business doesn’t have to set up a local entity to operate in New Zealand.
Partnering with ANZPEO means you’d not only lessen the risks and burdens of hiring and managing remote teams in a foreign market, but you also release the burden of not having to know and keep on top of changes to NZ employment law.
Why should start-ups use a PEO?
Minimise the burden of payroll
By partnering with ANZPEO, we’ll take on all the necessary functions for payroll, expenses reimbursements, entitlements and terminations so that you can concentrate on other critical areas of the business.
Keeping on top of compliance
One of the most significant risks of operating in a foreign market is not understanding the employment law in that country. We keep on top of all regulatory changes that occur in New Zealand to mitigate the risks associated with non-compliance on your behalf.
Shared liability
Handling legal issues on your own can be enough to cripple a start-up. By entering into a co-employment agreement with ANZPEO, we take on a share of the responsibility and liability of hiring your staff. So, if we run into a legal disagreement regarding our shared payroll responsibilities on a very rare occasion, we share all legal costs going forward.
Are you a start-up wanting to partner with a PEO to help you expand into New Zealand?
We have the skills, experience and knowledge of the New Zealand market to drive your business growth in New Zealand. Speak to us today about how we can help.
