There is a world of opportunity for international investors in Guyana’s growing economy. However, with this opportunity comes great risk in ensuring your organization recruits the most skilled talent, manages payroll, and makes sure your organization complies with local labor laws. Among these is how to manage local employment. Companies entering Guyana have the option of managing human resources directly or working with an Employer of Record (EOR). Considering the varying employment-related compliances from one country to another, more and more businesses opt for the latter.
An EOR acts as the local employer that would take care of employees hired by an offshore company. As employees play an integral role in a company’s success, you need to make sure that you get a competent partner to carry out this responsibility.
With its expertise in providing Employer of Record services, Excel Guyana’s Recruitment Division has this guide to help you out.
Clearly define your respective roles and contractual relationship. You need to establish the roles of the EOR and be clear about what is expected from your partner. The rule of thumb is this: Anything that is executed locally should be handled by the EOR. This includes local supervision and monitoring of employees’ attendance and output, performance management, administration of wages and benefits, handling of data requests, training, compensation reviews, retreats, and the like. The rest including employment policies remains with you.
Provide tangible means on how they can meet your requirement. Be specific on how you expect your EOR to accomplish their roles. It could be in the form of reports, and scheduled reviews, among others.
Responsiveness in providing support. Being offshore, you need to know that your EOR has a reliable point of contact to whom you can course through your concerns. Make sure that they are clear on how their support services work including issue and conflict resolution, response time, and protocols for emergency out-of-hours concerns.
Knowledge of laws and regulations. The last thing you want is to face litigation or pay fines because of violations in managing your employees. You must make sure that your EOR must has a strong grasp of local laws and regulations. Since the EOR is the local legal employer, it must take care of employees’ compensation, benefits, tax remittances, and the like; execute employment contracts; comply with all HR policies including local employment practices; and provide advice in firming the employment agreement. Added to this, they must also have efficient mechanisms in place that will keep all employment-related data safe, especially on payroll.
Discuss cost. Some EOR providers charge services based on a flat fee or a percentage compensation that is paid monthly. These practices may vary from one country to another. The important thing is their fee must be based on your needs which include the number of workers needed, services rendered, and the like. Make sure that your EOR partner discusses in advance any additional fee that they may charge.
Excel Guyana’s Recruiting Division’s dynamic team is the foundation for a fast-growing integrated company focused on offering comprehensive solutions to our clients and partners. Excel is committed to being a vital driver in the development of Guyana and welcomes interest from foreign partners that have skills and products that are essential to Guyana’s growth. It offers services to clients and partners in their recruitment needs including complying with local recruitment policies like the Local Content Registration. In addition, it also offers services to help job seekers in creating promising career paths and find sustainable employment in construction management, procurement and logistics, human resource, accounting, among others.
Excel’s leadership has more than 30 years of experience in building businesses in Guyana and the CARICOM region. With more than 10 years of local presence in Guyana, it has established networks in Argentina, Brazil, Canada, China, Colombia, the United States of America, Mexico, and Venezuela.
Learn more about positions available at www.ExcelJobsGY.com