As companies look to international expansion, they delve into the complex and dynamic labyrinth of global compliance. Entity setup, hiring, onboarding, financial reporting, transactions, product and service commercialization are just a few aspects to consider. Does the company just beginning their cross-border growth have the breadth and capacity to navigate global compliance seamlessly? When it comes to talent, compliance starts with hiring and continues all the way to termination – and in some cases, all the way to the employee’s retirement. This article will explore the top compliance challenges faced by companies looking to expand internationally and offer insight into best practices for adherence.
Employment and Compliance
In the U.S., wage and hour legal cases have seen significant financial implications, with the top 10 private-plaintiff class actions of 2021 totaling over USD 641 million. In the European Union, regulations like the Posted Workers Enforcement Directive guarantee the same working conditions for locals and temporarily sent workers. Failure to comply with these regulations leads to steep penalties that are stringently monitored.
Privacy and Data Protection
The emphasis on data compliance has surged, with laws like the EU's General Data Protection Regulation (GDPR) and the California Consumer...
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