PEO is known as Professional Employer Organisation. Vietnam PEO partners with small and medium-sized companies in the country, assisting these companies with their co-employment services.
In general, PEO helps companies handle employment contracts and streamline the employment and HR administration process.
With a Vietnam PEO, you can mitigate risks substantially because a PEO provider is responsible to share the employer risks with you. Furthermore, PEO provides extra protection when there is an employee lawsuit.
PEO is regarded as a perfect solution for many established businesses in Vietnam that are seeking external HR assistance.
So what are the benefits that make PEO so alluring for enterprises? Here they are.
Benefits of Partnering with a PEO or Recruitment Agency in Vietnam:
1. You Save Money on Hiring
A PEO provider in Vietnam can help your company manage all sorts of HR paperwork and provide assistance on different HR functions. Therefore, you don’t have to hire a full-time employee to handle these taxing tasks in-house.
However, if you do hire a full-time HR employee, this person is on critical tasks, you can let a PEO handle the mundane ones.
This way, your HR personnel will focus on activities that will help generate the company’s revenue more directly and make your company a place that candidates want to work at.
2. You Save Money on Employee Benefits
When you partner with a Vietnam PEO, the PEO provider will group your employees with the rest of its co-employees to become one larger group. As a result, all your employees are eligible for healthcare coverage that is parallel with those of larger organisations.
This also means that your employees can enjoy a more premium health coverage but at a much lower rate for employers.
3. You Save Time and Focus on What Matters the Most
As an entrepreneur or a business owner, you feel like you always have less time than you’d have working for some else. You always have a lot of things to do and most of the time you are not able to get all of them done as planned.
There is a solution to this and that is the PEO. A smart entrepreneur should not do everything themselves and should delegate them to those who are more experienced and knowledgeable than they are.
Making use of PEO enables you to pass on those onerous and time-eating employment and HR-related duties to the experts. With that, you can often gain back many hours per week and use them on core business functions.
4. You Mitigate Risk and Protect Your Business
The number of companies getting fined in Vietnam for their payroll mistakes is skyrocketing every year. And this only just for payroll mistakes not including other employment or HR penalties. Therefore, absolute compliance is the only solution to avoid these unnecessary fines, even though absolute compliance is difficult to achieve 100% of the time.
If you do not have the experience and expertise in this area and are unable to keep yourself updated with the constantly-changing law, chances are, you will soon become one of the lawbreakers as well.
Your stake is high so it is best to engage a PEO professional to ensure full compliance with the local employment and labour laws.
Read More: Payroll and HR Outsourcing in Vietnam
Cekindo as Your PEO in Vietnam
Cekindo’s PEO service simplifies the way you approach complicated Vietnam’s business landscape.
Our Vietnam PEO solution guarantees complete compliance with a client base covering prominent small and large companies across a myriad of industries in the country.
Navigating through a new territory can be very challenging. However, Cekindo can equip you with the necessary HR tools to protect your business and minimise undesired interruption.
We are exactly what you need for your HR functions – professional, affordable, and friendly. You will have total peace of mind knowing that Cekindo’s experts are with you all through your expansion journey in Vietnam.
Learn more about our PEO service now. Fill in the form below.