New businesses often need to recruit people with specific skill sets but it can be difficult to hire good employees if you lack an established presence and track record in a new region or don’t want to set up a full office. If you are looking to start up or expand your business in Hong Kong but don’t yet have the capacity or resources to hire directly, you should consider the option of ‘secondment’ – outsourcing the hiring and employment of staff to a Professional Employer Organisation (PEO).
Secondment – sometimes known as co-employment or dispatch employment – is a flexible and cost-effective model of employment that enables companies to operate and expand without the administrative burden and expense of direct hiring and without the long-term liabilities that employees create. This arrangement will aid start-ups or smaller companies and will also assist larger businesses that don’t want to add to their headcount.
The PEO becomes the employer of record for pension, tax, and insurance purposes and the employee will be on-boarded and seconded back to the client to perform the required work under a service agreement. Management tasks such as payroll, social security, insurance, pensions, and other benefits can all be shifted to the PEO and handled at a lower cost than client companies could achieve on an individual basis.
Sovereign Business Solutions Ltd. is licensed to operate as an Employment Agency in Hong Kong. By partnering with it, you can build PEO services into your structure and workflow to provide stability and a firm foundation for growth.
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