PROJECT / HR OUTSOURCING SERVICES – PREFERRED BUSINESS MODEL IN THE “NEW NORMAL”
The growth of the outsourcing business strategy can be tracked down to the early 90s. Initially, companies recognized the need for such services if they weren’t self-sufficient or didn’t have the competency internally. Later companies realized the opportunity to use outsourcing services as cost-saving measures. However, organizations remained cautious and no core competencies would be outsourced.
In the last 20 years, those services evolved naturally and nowadays outsourcing of core competencies gives effective results.
The most common reasons why companies outsource are:
- Reduce and control operating costs
- Improve company internal focus
- Gain access to world-class capabilities
- Improve time management or insufficient resources
- Share the responsibility with partners
Now, is it possible to outsource the entire department or even create an international branch without knowing the local legislation, local markets or even having a registered legal entity?
Yes, it is possible!
We have provided the whole specter of outsourcing services to our partners abroad and we are quite experienced at it.
Bulgaria is the preferred outsourcing destination for its:
- Highly qualified workforce (half the population has university degree)
- High number of qualified professionals
- Rich variety of language skills
- Most favorable Tax Regime within the EU (Corporate Profit tax (flat) – 10%. Personal Income Tax (flat) – 10%)
- Lowest Social Security Contributions in EU
- Bulgarian legislation is completely synchronized with the EU legislation
- Bulgaria has signed Double Taxation Treaties with 80 countries all over the world
- Lowest business costs in the EU
So, if you want to take advantage of the favorable business climate in Bulgaria, here are the outsourcing services we can offer:
- Recruitment of top professionals in their fields and assembling a team (or a whole department) as per your instructions
- Staff leasing is a service that enables the employer company (the client) to hire employees whose labor contract is signed with another company (Toro Group) and practically work for the assignor company
- Payroll services and full HR administration for the employees, including processing sick leaves, paid/unpaid leave, maternity leave, hiring and dismissal process, etc.
- Signing contracts for telecommunication services and leased vehicles if needed. Using all discounts and preferential terms from all our vendors.
Personnel expenses management.
- Renting office space, facility management, furnishing (if needed), arranging periodic deliveries of office supplies/water/catering/hygiene products, etc.
Everything needed in order to have a fully functional office space.
All expenses are summarized in monthly reports that are to be confirmed before we proceed with the payments. This way it is easy for you to track all expenses and see for yourself the benefits of outsourcing services.
Toro GroupS is on the Bulgarian market for 20 years and one of the innovators in HR outsourcing services. Your business can have all mentioned above, all you need to do is let us know what you want and we will provide it.