The challenges of managing a global workforce have never been more complex.
As a result of varying regulations in every country, handling employment, compensation, payroll, and benefits takes a lot of paperwork, time, and costs money.
Some of these processes could be so daunting that they ultimately prevent you from focusing on your business.
This is why it’s important to offload such responsibilities and paperwork to a third-party platform like Boundless, which acts as your employer and save you from all the legal stuff.
Whether you’re hiring overseas, expanding internationally, or seeking to optimize your remote workforce, Boundless stands out as a reliable partner that handles the intricate details of cross-border employment.
In this review, I would like to introduce you to the various features, benefits, and user experience that Boundless offers.
About Boundless: Simplifying Global Payroll & More
Boundless takes pride in its mission to make global employment straightforward.
As a trusted Employer of Record (EOR) provider, the platform offers a solution that caters to companies seeking to navigate the complexities of international employment, while ensuring legal compliance and seamless operations.
Whether it’s hiring a critical team member abroad, retaining invaluable talent across borders, or legitimizing a contractor, Boundless positions itself as the bridge between employers and their global workforce.
Features of Boundless: Navigating International Employment with Ease
As a platform that handles international employment, global payroll, and remote employee benefits, boundless certainly has lots of features if these things are going to serve your company. Let’s take a look at these features, from cross-border employment to benefits administration for remote employees.
International Employment: A Seamless Process
Boundless thrives on its ability to simplify international employment. The platform serves as a hub that addresses the legal and compliance challenges associated with hiring in foreign countries.
Operating as a Professional Employer Organization (PEO), Boundless’s EOR model streamlines remote employment operations, making the entire process quick and hassle-free.
Here’s how the entire process looks like:
- signing up for a Boundless account as an employer,
- selecting the target country or countries where you want to engage the services of global teams
- inputting basic employee information,
- signing a three-party employment contract (between your organization, Boundless, and the employee)
- Then Boundless takes it from there to manage payroll, tax filing, salary distribution, and HR compliance.
Global Payroll: A Unified Solution
Boundless extends its services to encompass global payroll for diverse teams. Whether your workforce is centralized or distributed globally, the platform boasts the capability to handle your payroll requirements, ensuring that your employees are accurately compensated, regardless of their geographic location.
Boundless’ global payroll handles the following:
- Salary: The base compensation amount before any deductions or taxes.
- Taxes: Income tax, social security contributions, and other applicable taxes based on local regulations.
- Statutory Employer Payments: Contributions or taxes that employers are legally obligated to pay on behalf of their employees.
- Allowances and Bonuses: Additional payments for various purposes, such as housing allowances, performance bonuses, and other incentives.
- Overtime and Leave Calculations: Accurate calculation of overtime hours, leave balances, and related payments.
- Currency Conversion: Converting salaries and payments into the local currency of each employee to ensure accurate and timely transactions.
- Compliance Reporting: Generating reports and documentation required by local authorities for tax filing, social security contributions, and other legal obligations.
- Multi-Country Regulations: Adhering to diverse labor laws, tax codes, and employment regulations in each country of operation.
- Record Keeping: Maintaining detailed records of payroll transactions, calculations, and reports for auditing and historical purposes.
- Payment Processing: Facilitating the distribution of accurate payments to employees via various methods, such as direct deposit or check issuance.
Global Employee Benefits: Comprehensive Coverage
The platform also focuses on ensuring comprehensive employee benefits for global teams. With a user-friendly interface, Boundless centralizes international employee benefits, encompassing in-country pensions, health and life insurance, and flexible benefit allowances.
This holistic approach alleviates the administrative burden for employers, while granting employees the peace of mind that comes with comprehensive benefits.
Boundless for Employees: Empowering the Global Workforce
Boundless doesn’t solely cater to employers; it also champions the rights and privileges of remote employees.
The platform allows workers to legally operate for companies around the world while retaining employment benefits and rights within their home country.
This means that employees can enjoy all the legal protections and benefits applicable to them, including healthcare and pensions, without the hassle of invoicing, accounting, or additional tax risks.
How Boundless For Employees Works
For employees, Boundless offers a unique co-employment arrangement. This is how the relationship looks like:
- Employees are legally tied to both their employer and Boundless, which serves as a legal entity in their home country.
- This structure ensures compliance with local labor laws while providing employees with lifelong access to their employment details through the platform’s app.
- Boundless takes care of salary distribution, tax handling, and returns, allowing employees to focus on their work without the burden of administrative complexities.
Why Choose Boundless? Key Benefits
Boundless stands out among its competitors for several compelling reasons:
Compliant Employment:
With Boundless, legal compliance is automated, ensuring employers operate within the bounds of local labor laws and regulations.
Effortless International Hiring:
The platform facilitates the process of expanding your workforce into new countries within minutes, enabling swift global expansion.
Simplified Payroll and Taxation:
Boundless offers a one-click solution for payroll and taxation processing, alleviating the intricacies of international payroll management.
24/7 Customer Support:
With consistent and reliable customer support, Boundless addresses any concerns that may arise during your global employment journey.
Flexible Global Benefits:
Boundless ensures that global employee benefits are seamlessly managed, ensuring consistent coverage regardless of geographical location.
Automated Local Currency Payments:
With Boundless, you can trust that payments are handled in local currencies, streamlining financial transactions across borders.
Boundless Pricing and Plans: Affordable and Scalable
Boundless’s pricing structure is designed to accommodate a range of business sizes.
They charge a competitive 8% of total monthly processed payroll, which covers gross salary, taxes, statutory employer payments, pension contributions, and any additional benefits payments or contributions processed through payroll.
This transparency ensures that employers can accurately budget for their international hiring and expansion initiatives.
Final Verdict: Unlocking Global Workforce Potential
In an era where global expansion and remote work are becoming the norm, Boundless steps up as a powerful solution to streamline international employment, payroll, and benefits.
Their comprehensive platform, backed by an EOR model, empowers both employers and employees by navigating the complexities of cross-border employment.
With its intuitive interface, robust features, and dedication to legal compliance, Boundless emerges as a reliable partner for organizations aiming to harness the potential of a truly global workforce.
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