Global Employment Companies in the Isle of Man

Global Employment Companies in the Isle of Man

Quite clearly, global business activity requires an aligned global HR strategy.  Easy to say but not so easy to execute.

In days of yore, ‘global business’ was the preserve of multinational corporations but the size threshold now is considerably lower.  Couple this with a higher propensity for workers to be located elsewhere to the business hub, and you naturally conclude that the demand for effective cross border HR solutions is on the rise.

A Global Employment Company (“GEC”) can be a powerful tool in this regard.

Amongst the many benefits of a GEC are:

·         Centralised management of global talent

·         Establishing and maintaining a consistent global rewards strategy

·         Multi-currency and tax-equalised payroll processing

·         Operational efficiency

·         Corporate governance and risk management

·         Confidentiality and data protection

·         Fast redeployment of international workers to other countries

·         Buying power for financial benefits

·         Harnessing global HR expertise

If you are sold on the benefits of a GEC, the challenge is finding a jurisdiction that can deliver all of them.  The Isle of Man can.

The starting point is the company itself.  The Isle of Man has a distinct legal framework that governs the incorporation, governance and operation of companies as well as providing for a wide range of corporate structures. Such flexibility allows businesses to choose the most suitable structure for their needs and objectives.  For a “managed” GEC, the regulatory oversight of corporate services is amongst the best in the world.  

The data protection laws, such an extremely important consideration in employee management, meet the highest of international standards and are independently regulated by the Isle of Man’s own Information Commissioner.

The Isle of Man itself benefits from enviable political and economic stability in contrast to many parts of the world that a global employee benefits programme may reach.  Being in a central global time zone with a sophisticated international banking system provides a clear operational benefit too.

And finally, but rather importantly, the Employee Benefits Isle of Man cluster provides a central hub of product and service providers for the GEC to tap into, right on its doorstep.

All of this translates into peace of mind for those in the C-Suite struggling with the challenges of global talent management.