The Challenges and Benefits of Expanding to Ireland, from a US Company that Expanded into Ireland
Colm Power
Director, NFP Europe
Ireland has become a popular destination choice for many global businesses looking to expand into new territories, and many of the world’s largest companies call the Emerald Isles home.
At NFP, we know because we’ve done it; we set up in Ireland 6 years ago and we haven’t looked back.
We have been expanding rapidly ever since 2019, but only because we took the time to understand and navigate the key differences between America and Ireland, which in turn helped us attract, retain and motivate the bright talent that helped make our Irish expansion a success.
Challenges
While expanding into Ireland is a really exciting step for your business, here are just a few challenges that NFP had to navigate when operating in Ireland:
Legislation: Just taking employment law as an example, there are many complex differences surrounding recruitment, minimum wage, and annual leave (PTO).
Culture: Healthcare is maybe the most significant social difference compared to the US; Ireland’s public health system means medical insurance will not be your main employee benefits expense.
Expectation: In our experience, an American and Irish workforce have different perceptions about what they expect from their employer. Understanding these differences is key to becoming an employer of choice.
Due to our extensive capabilities in employee benefits, people and talent, healthcare insurance, commercial insurance, and health and safety, NFP are perfectly placed to help you navigate the complex legal and cultural differences in all areas of your business expansion. We work with some of the world’s leading companies, including those based in the US, so we may already work with you!
Benefits
Ireland is famous for its attractive tax environments; its corporate tax rate is among the lowest in Europe.
On the topic of Europe, Ireland’s European Union membership means an excellent trading relationship with other EU members.
Another benefit to being an employer in Ireland is workforce. Ireland’s pool of talent helps breed highly skilled, educated workforces, with over 62% of 23–34 year-olds having completed third-level education.
Is your Irish operation auto-enrolment ready?
Pension auto-enrolment is one of the next big legislative developments in Ireland, and it’s vital that businesses like yours prepare for it as soon as possible.
Introducing ‘Pension auto-enrolment: an informational guide’ - your insight into what auto-enrolment is and what it will mean for your Irish operation. Covering all key areas of pension auto-enrolment, this guide is designed to help you:
Learn how auto-enrolment will work
Understand what it means for your business and your people
Discover what your business can do now to best prepare for this change
Download your own copy of the guide at www.nfpireland.ie/ireland-auto-enrolment
About NFP
NFP, an Aon company, is an organisation of consultative advisors and problem solvers. We help companies and individuals around the globe address their most significant risk, workforce, financial planning and retirement challenges through custom solutions and a people-first approach.
