Safeguard Global enters China market to provide global market expansion solutions for local companies

Its industry-leading employer of record service will help Chinese companies quickly expand their international business

Beijing, April 12, 2022 – Safeguard Global, a company dedicated to shaping the future of work, recently announced its entry into the Chinese market, providing Chinese companies with the ability to quickly expand overseas markets, helping them to scale their business and seize market share.

Safeguard Global, headquartered in the United States, is a market leader in global employer of record (EOR) services, helping companies quickly hire the employees they need around the world, regardless of location, enabling them to quickly enter new markets and compete globally for the best talent.

A key challenge for all companies expanding into international markets is to quickly meet local employment regulations and compliance requirements to gain a competitive advantage.

Safeguard Global's solutions are based on a leading workforce technology platform that helps companies hire and manage employees in more than 170 markets around the world. Among them, the Global Employment Outsourcing (GEO) solution can more efficiently arrange new employee onboarding, manage working hours and attendance; it also provides local labor market expert support services, thereby helping companies enter new markets faster and achieve cost-effectiveness under the premise of compliance.

The Ministry of Industry and Information Technology (MIIT) said in November last year that it had fostered more than 4,700 national-level "little giants" and tens of thousands of small companies still in the early stages of development. These companies are mainly distributed in the fields of IT, telecommunications, biotechnology, automobiles and new energy.

" Many Chinese companies are ready to grow their business through international expansion , " said Bjorn Reynolds, founder and CEO of Safeguard Global . "China has become a global leader in artificial intelligence, cloud computing, mobile applications and many other emerging technologies. Once these Chinese 'little giants' successfully gain market share overseas, they will undoubtedly lead the next wave of innovation. However, how to hire the best talent in overseas markets will also become the key to achieving their development goals."

Currently, many Chinese brands are actively expanding their global market share. For example, Xiaomi is now the world's second largest smartphone manufacturer, and the number of monthly active users of TikTok, the international version of Douyin, has exceeded 1 billion. Chinese fast fashion brand Shein has also achieved great success in the Western market and has many young consumers. At the same time, Alibaba, JD.com and Tencent continue to expand their business to Southeast Asia while developing their domestic market.

In the post-pandemic era, work patterns will change, and Safeguard Global is actively supporting clients to prepare for the new way of working in the future. To succeed in the new work environment, it is necessary to meet the various needs and expectations of employees and potential employees. Those companies that adapt to reality as early as possible by providing flexible policies, practices and work experiences will have a competitive advantage in attracting and retaining outstanding global talent and expanding quickly into new markets.

“We can help Chinese companies create flexible, people-centric work experiences, what we call ‘work-by-your-own’ companies, that give employees choices about how, when and where they work,” said Mr. Reynolds. “To succeed in this, these companies will need an in-country partner who understands the culture and regulations to support them and prevent misunderstandings about work content. However, companies will need to adapt to this new way of working to succeed in new global markets.”

Safeguard Global in China

Safeguard Global has always believed that the Chinese market has huge development opportunities. To this end, Safeguard Global entered the Chinese market and launched a comprehensive development strategy to meet the growing needs of the global labor market, while shortening the distance with many local customers, thereby providing more convenient services for companies seeking market expansion solutions.

According to data from the Ministry of Industry and Information Technology, China has maintained its position as the world's largest manufacturing country for 12 consecutive years . In 2021, the added value of the manufacturing industry reached 31.4 trillion yuan (about 4.97 trillion US dollars), a year-on-year increase of 9.8%, accounting for 27.4% of GDP.

Lu Ming, deputy director of the China Council for the Promotion of International Trade Research Institute, pointed out that although China has gained advantages in global competition, many Chinese companies still lag behind foreign companies in terms of experience accumulation, business management, innovation capabilities and international talents.

Providing an experience that lets companies choose how they work will ensure they can hire and retain employees around the world. It will also allow them to attract more top talent, who will be the key to greater innovation and, in turn, greater market share.