Why is now the time to hire beyond borders?
Remote work was once considered a fun trend. But one pandemic later, remote work is now the norm for professionals worldwide. While many company executives are still figuring out how to make remote work function efficiently, there are some leaders that are already capitalizing on the benefits that remote work provides, such as building a global workforce.
Expanding beyond traditional talent pools and recruiting from across the world can provide a multitude of benefits. Here are just a few reasons why now is the time to hire beyond borders.
1. You Don't Need to Worry About Compliance and Payroll
Before we explore the benefits of hiring a global workforce, let’s debunk a common misconception: operating a company across national borders is too complex and too much of a headache to even consider. But with advancements in technology, this fear is no longer justified. There are countless tools available that automate and streamline the administrative minutiae that comes with hiring around the world. These third-party tools allow employers to take advantage of the rest of the benefits of a global workforce without opening Pandora’s box in the process.
2. You Gain Access to a Larger, More Affordable Talent Pool
The unemployment rate is currently at an all-time low, making talent retention a challenge for many companies. By expanding beyond traditional talent pools, you can access a larger talent pool with more qualified candidates with sufficient training and experience. In addition, for many industries, hiring outside of common talent hubs can significantly reduce the cost of each hire without undercutting the value of the compensation package to the employee.
3. You Can Unleash Multi-Dimensional Growth
A willingness to grow your workforce through remote workers around the world can jumpstart growth in multiple areas of business activity. Not only can you quickly find qualified workers to fill skill gaps or scale your workforce, but a global workforce can also provide connections and insights into new markets. This presents opportunities to grow in unexpected directions as a company scales its operations.
4. You Foster a Truly Diverse and Dynamic Workforce
When you hire across national borders, you introduce a wide variety of cultures, beliefs, and personal experiences into your workforce. This yields many powerful benefits, including hiring for diversity, equity, and inclusion. A global workforce can also spark creativity, flexibility, and productivity as a result of having diverse perspectives on a team.
5. You Can Build Resilience Through Geographic Diversity
Natural disasters, political turmoil, and other unforeseeable circumstances can cripple a business that operates solely in one geographic region. By having a global workforce, you can build resilience against these kinds of threats by having a more diverse and distributed workforce.
In conclusion, building a global workforce is no longer a daunting task. With the help of third-party tools, you can streamline the administrative work, gain access to a larger and more affordable talent pool, unleash multidimensional growth, foster a truly diverse and dynamic workforce, and build resilience through geographic diversity. Now is the time to take advantage of these benefits and capitalize on the remote work experience.