These key factors can slow down your business expansion
plans.
Setting up processes to manage the hiring, terminating and
paying of employees is 'extremely' or 'very'
complex in 42% of jurisdictions, according to a new
business complexity survey of 76 locations across the
globe.
The complexity lies in local labour laws, reporting requirements
and significant difficulty for businesses wanting to hire personnel
before being legally incorporated in a new jurisdiction, making it
harder for them to hit the ground running.
The Global Business Complexity Index highlights the impact of
frequent changes in human resources and payroll (HRP) laws. These
changes occur 'very frequently' or 'quite
frequently' in 45% of jurisdictions. Greece, ranked first in
the Index for business complexity, has applied many of its recent
changes retroactively, so businesses must move swiftly to meet new
obligations.
