Establishing a distributed remote team in the Asia-Pacific (APAC) Region comes with challenges like hiring the right talent, managing their payroll, staying compliant with the local laws, amongst others. These essential tasks can be very time-consuming and expensive.
With an Employer of Record (EOR) in the APAC region, you can now have a team of your own without setting up a local legal entity. Skuad is an Employer of Record that helps you simplify hiring and compensation of full-time employees in a foreign country.
Key Payroll and Talent Trends in the APAC Region
The 2020 Deloitte Global Payroll Benchmarking Survey found several significant trends and variances throughout the world's regions, including APAC, North America, and EMEA. Here are some of the most important discoveries for Asia-Pacific:
- When employing managed services, the payroll cost per employee in APAC is USD 146, compared to USD 483 in EMEA.
- 82% of respondents execute payroll in APAC every month.
- Online pay slips are received by 92% of employees.
The Global Payroll Complexity Index also identified Asia and the Pacific as regions prone to payroll outsourcing, owing in part to sensitive cultural issues and complicated security rules.
Another payroll-related development that has been noted in APAC is the increasing significance of digital currencies. Experts also foresee a considerable increase in the usage of alternative payment methods in the coming years.
The Talent Trends 2021 report included new insights and market sentiment for industries that have experienced significant change in the recent year. The study examines key recruitment and talent-related focus areas in the Asia-Pacific region, such as digital preparedness, organizational design, flexible work, leadership, and diversity and inclusion.
The Asia Pacific Executive Talent Trends 2021 Report's Key Takeaways
- In 2020, female executives will fill 31% of senior executive positions.
- By 2021, 68 % plan to increase their investment in technology and digital tools.
- In 2021, 53% of firms maintained or increased the frequency and quantity of channels outside email.
- For four out of every five employees, working from home is equally or more productive.
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How does an employer of record (EOR) work?
Skuad is an Employer of record in the Asia-Pacific, 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 the Asia-Pacific, 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 APAC countries:
Talk to our People Ops experts to discuss your requirements and see how Skuad can help. Book a demo today!