FUELING ORGANIC GROWTH: Business Expansion and Talent Acquisition
Abstract
Business growth into new markets may occur through organic growth or acquisition. When acquiring a business enterprise, a company, through due diligence, will determine whether key relationships have been properly entered into and maintained by the target company. When growth is organic, a company must evaluate issues ranging from market potential and supply sourcing to attracting, retaining, and managing talent. This paper provides an outline of principles to be considered for organic growth in any country, and specifics regarding the requirements in Thailand and the Philippines. It offers the reader a framework for understanding the legal, regulatory, and compliance issues that are germane to talent acquisition, including how to engage employees and independent contractors. It provides information on mandatory requirements for establishing an employer-employee relationship in the focus countries, and the ways in which local legislation affects this relationship after it is established. It highlights risks related to mischaracterization of the employment relationship. It also considers practical requirements such as company registration and reporting, contracting with payroll service providers, and tax and social benefits payment and reporting.
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