Simone Nardi, the CFO of Globalization Partners, one of the largest providers of Employer Of Record (EOR) services, joins CJ for a masterclass in expanding internationally. Simone explains the concept of an Employer of Record, how it handles employment-related tasks and obligations for companies going abroad, and how it differs from a Professional Employer Organization (PEO). Together they flesh out a framework for CEOs and CFOs looking to build teams internationally. They talk about everything that goes into hiring great people abroad and doing it in a cost-efficient and strategic manner, including how to budget for an international workforce, staying abreast of changing regulations, using EORs to move employees between countries, considering the fluctuation of currency values, and even exit cost considerations. Simone also sheds light on Globalization Partners’ business model, the different revenue lines that they forecast for, and the metrics they track.
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TIMESTAMPS:
(00:00) Preview and Intro
(02:12) Sponsor - NetSuite | Maxio
(04:47) Definition of Employer Of Record (EOR)
(06:51) Definition of Professional Employer Organization (PEO)
(11:19) Key Considerations for Expanding Globally
(15:16) Use Cases for an EOR
(16:01) Costs That People Overlook When Hiring Abroad
(19:28) Sponsor - Planful | Leapfin | Mercury
(23:15) Time Considerations for Establishing an International Team
(24:20) Using EORs to Move Employees Between Countries
(24:54) Staying Abreast of Evolving Regulations
(26:12) Budgeting for an International Workforce With an EOR Versus Without One
(28:48) Exit Cost Considerations
(30:05) Considering the Effects of Currency Swings
(32:54) Countries Seeing Growth in Outsourcing of Labor
(34:55) The Different Revenue Lines That Globalization Partners Forecasts for
(36:14) The Metrics That the Company Tracks
(38:55) The Technological Component of Globalization Partners
(41:31) Long-ass Lightning Round: Advice on Pace, Reading the Room, and Delegation
(47:37) Craziest Expense Story
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