Global PEO in Ireland
As a growing SME or startup business, you know expansion is inevitable if you want to reach maximum profitability. You probably also know that to find top talent, you need to search outside of your local vicinity.
So how can a growing business with limited resources accomplish global expansion? Is your company ready to start doing business in Ireland but you don’t know where to start? Or do you have an existing employee looking to relocate and you don’t know how to keep them on the payroll?
Well, you don’t have to worry! When you work with a professional employer organization (PEO) in Ireland, like Skuad, you can easily hire, onboard, and manage workers.
With remote working becoming a popular option across all industries, almost anything is possible.
Are you wondering what a PEO is? Keep reading and we’ll explain what it is and how it can help your company with doing international business in Ireland.
What is a PEO?
A PEO is an HR service provider for SMEs, startups, and businesses of all sizes. A PEO manages everything from payroll to compliance so you can focus on your core operations. Partnering with a PEO enables your business to offer competitive compensation and benefits packages to attract top talent in Ireland.
When working with a PEO, you transfer the time-consuming HR tasks to your partner organization for a fraction of the cost it would be to hire an internal HR team. The best part is PEOs are global experts, meaning you can expand quickly!
Most PEOs have entities all over the world to allow you to hire the best talent for your business.
At Skuad, we hire, onboard, and manage workers in 160+ countries, including Ireland. Contact us today to see how we can help your organization grow
What are the benefits of using a PEO in Ireland?
Ireland’s economy is booming. Workers are provided many benefits and expectations are high for employers to provide the best employment packages. While navigating laws can be complicated at times, hiring workers in this part of the world is well worth it.
Partnering with a PEO in Ireland opens many new opportunities for businesses. You’ll have access to benefits and resources you may not be able to afford without working with a PEO, such as health insurance plans that require a large number of employees.
You’ll also have experts on hand to help you navigate the legal landscape in Ireland. Keep reading for more benefits of working with a PEO in Ireland.
Hire top talent from Ireland
If you find your dream candidate, their location should not be a deterrent. Working with a PEO allows you to hire employees all over the world, meaning you have access to top talent that may not be available locally.
Ireland is a fast-growing economy. Don’t let talented Irish residents miss out on working with a great international company like yours. Partner with a PEO to open doors for everyone!
Position your company as a global competitor
Setting up a business in Ireland is a timely and costly endeavor. It might take a year or more to get everything needed in place, meaning you lose out on valuable time to position your business as an industry leader.
Plus, your business’s reputation will improve significantly because you’ll be in global demand.
Save on unnecessary costs
There are a lot of costs associated with global hiring — and setting up a business in Ireland. Managing legal partners, registering with agencies, etc. can add up quickly. You can avoid those costs, and the associated headache, by partnering with a PEO.
The PEO provides HR services without the costs of hiring an internal team.
Interested in learning more about how Skuad can help your business expand in Ireland? Contact us today.
Discover in-depth insights into global markets
Many small businesses dream of global expansion someday. Maybe you have ambitions to open entities all over the world within the next 10 years. But why not get a head start on learning the market?
Hiring employees in other countries, such as Ireland, can give you insight into how the country works and the cultural differences. This will give you leverage if you do decide to expand in the future.
Avoid setting up a new entity in Ireland
There are many costs required to establish and maintain an entity in Ireland. You can avoid these with a PEO. Most PEOs have entities all over the world, meaning you can hire global talent without new entities.
So, save your company the expenses and the stress of setting up a new entity by partnering with a PEO. You can have new hires working in days to weeks instead of months to years.
Expand cultural awareness
The best way to expand your cultural knowledge and awareness is to do business abroad. You can learn how to interact with different cultures, a skill that will benefit you for years to come.
For example, did you know that lunch breaks in Ireland can last anywhere from 30 minutes to an hour and a half — and that’s totally accepted practice for local workers?
Full compliance with Irish labor laws
There are several Irish labor laws to comply with. Failing to comply with these laws can lead to hefty fines and penalties.
The standard working hours in Ireland are 39, and asking workers to do more than 48 hours in a week is simply not permitted. Employees are required to have at least 11 hours of rest between shifts and are entitled to at least 1 rest which is 24 continuous hours.
Employees who work on Sundays are entitled to higher compensation rates, too. There is no national standard for overtime pay, but most employment contracts outline how much additional pay will be provided.
Jot the below notes down if you’re considering doing business in Ireland…
Payroll in Ireland
- Ireland’s income tax is either 20% or 40%, depending on income limits and marital status.
- Employees in Ireland are accustomed to a monthly payroll cycle.
- The currency in Ireland is the Euro and VAT is 23%.
Payroll taxes and deductions
Both the employer and employee have required contributions, found below.
- 8.8% to 11.05% for the social insurance program (Pay Related Social Insurance - PRSI)
- Universal Social Charge (USD), ranging from 0.5% to 8%
- 4% and up for the social insurance program (PRSI)
- Ireland recognizes 10 paid holidays and employers are required to provide an extra 20 days of paid time off to Irish workers.
- There is no national sick leave policy, but employers generally outline the conditions in the employment contract.
- Employees are entitled to 26 weeks of paid maternity leave, paid by the state. They can also take an additional 16 weeks of unpaid leave. The minimum requirement is 2 weeks before birth and at least 4 weeks after.
- Paternity leave is for 2 weeks whether the child was just born or adopted. Parents can take 26 weeks of unpaid leave for each child under the age of 12.
There are also leaves for adoptions, family emergencies, and caring for incapacitated persons.
You don’t need to concern yourself with memorizing all of the ins and outs of Irish payroll and employment laws in Ireland. Book a Skuad demo and we’ll take the work off your hands instead.
What does it cost to build a team in Ireland?
How much it costs to build a team depends on how you decide to do business in Ireland. You have two options: incorporating as an entity in Ireland or working with a PEO.
Let’s look at each in turn…
Incorporating in Ireland
When you complete the Ireland company registration process, there are several steps and fees involved. You must register with governmental agencies, obtain certificates to do business, and establish a business bank account in Ireland. The process can take months to complete.
Additionally, you have to consider the costs after you’ve established an entity in Ireland. You have to run the location and pay the employees who manage it. You’ll also have to have legal professionals on the payroll to help you maintain compliance with Irish employment laws.
Or you could take the much easier route that costs a fraction of what it does to incorporate…choosing to work with a PEO. You will have employees hired and working for you in days instead of months.
PEO services in Ireland
The price of PEO services varies based on the company you decide to work with. With Skuad, we have a transparent pricing structure with no hidden fees. And the best part? You get to start for free and cancel at any time.
You can set up and pay contractors for only $19 a month per worker with Skuad. We also offer employer of record services for $199 a month per employee and special pricing for enterprise clients. Check out our pricing page for more information.
Want to book a free demo?
Are you ready to partner with us to expand your team in Ireland? With our global PEO services in Ireland, we will help you hire, onboard, and manage global employees while remaining 100% compliant. Book a free demo today to check out our easy-to-use platform.