Payroll and HR Trends in Asia

Unlike in Europe, where governments strive for standardization, Asia will stay distinct and unique for the foreseeable future, but this makes doing business here considerably more intriguing! Some of the key payroll and HR trends in Asia are mentioned below.

• Enforcing accurate and timely payment
  Salary is an essential component when it comes to employee management which makes it critical. Getting payroll management and processing right has been a challenge for many organizations. There is also an increased interest in pau equity across the region.
  Due to the changes in working patterns in Asia, legislation will be applying increased scrutiny and stricter laws to impacted industries in the Asian region to safeguard the workforce from negative effects such as wage theft.

• The significance of employee well-being
  For many years, employees’ physical health and safety have been a major focus area in many organizations. However, the mental well-being of employees has taken center stage since 2020 and continues to have a significant impact on hiring trends in Asia. 
  According to Randstad Workmonitor data, 87% of Singaporeans believe that having the freedom to work from home improves their productivity, creativity, and job satisfaction. Similar patterns may be observed in other Asian nations.
  

How does an employer of record (EOR) work?

Skuad is an Employer of record in Asia, which serves as a Global HR Platform for companies looking to hire and pay remote talent. Partnering with an employer of record allows organizations to legally and effortlessly hire the best talent in Asia, without setting up a local legal entity. Skuad manages the hiring and onboarding of employees, runs payroll and provides statutory benefits, gives ongoing legal and HR support, and much more.

Skuad provides Employer of Record services in the following Asian countries: 

• Armenia 
• Azerbaijan
• Cambodia
• China
• Hong Kong
• India
• Indonesia
• Japan
• Kazakhstan
• Malaysia
• Mongolia
• Myanmar
• Pakistan
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Uzbekistan 
• Vietnam

Talk to our People Ops experts to discuss your requirements and see how Skuad can help. Book a demo today!