Advantages of Hiring Remote International Talent
The article is contributed by Christopher McNamara, Chief Revenue Officer at Remote.
From saving costs to gaining a wider talent pool, here are the many advantages of hiring remote international talent
Hiring remote international talent can be a great way to access a global pool of skilled workers and expand your business. Whether you’re a small business owner in need of some basic IT assistance, or a bigger entrepreneur who needs employees like software developers, the solution is crystal clear: it’s time to go global.
What Is Remote Talent And Recruitment?
Internationteleal remote talent refers to employees and contractors who are located outside of the country where the company they work for is based, and who work remotely, either from their own home or from a remote office. International remote workers are typically hired for their skills and expertise and can bring a unique perspective and set of experiences to the company.
Hiring international remote talent can provide access to a larger pool of skilled workers and can help to diversify a company’s workforce. It can also offer cost savings and the ability to tap into different time zones for round-the-clock coverage.
Advantages To Hiring International Remote Talent
Here are some potential advantages to hiring international remote talent:
1. Access to a wider group of skilled workers: By hiring internationally, you can tap into a larger pool of talent, which can be especially beneficial if there is a shortage of qualified candidates in your local area.
2. Lower labour costs: In some cases, hiring international workers may be less expensive than hiring locally due to differences in cost of living and wage expectations.
3. Ability to tap into different time zones: By hiring workers in different time zones, you can potentially have someone working on your project around the clock, allowing the team to get so much more work done in a smaller amount of time.
4. Diversification of the workforce: Hiring international workers can help to diversify your company’s workforce, bringing in new perspectives and ideas.
5. Increased flexibility: The big advantage is that international remote workers are not tied down to a specific location, which can give your company increased flexibility and better life-work balance for everyone.
Keep in mind that there are some important things to think of when hiring remote international workers, to make sure that the process runs smoothly and that you avoid any potential costs or legal issues.
First, it’s important to understand that any company can only hire employees in countries where it has a legal entity established. The alternative is to work with an Employer of Record, who acts as the employer on your behalf internationally. They will be responsible for compliance with the laws and regulations in the country where the worker will be based, as well as any relevant labour laws in your own country, helping you to avoid any potential legal issues.
Second, you will need to consider the tax implications of hiring a remote international worker. This may include withholding taxes and other obligations, such as Social Security and Medicare taxes. An employer of record can manage this as well to help avoid any potential penalties or additional costs.
Third, you will need to consider the logistics of managing a remote international team, including communication and collaboration. This may require investing in technology and other tools to ensure that your team can work effectively together, regardless of their location.
Tips On Saving Costs
There are several ways that you can save costs when you hire international remote talent, including:
1. Casting your net widely: Searching outside of saturated areas like tech hubs, and hiring from areas with higher talent supply and market value salary costs, can be a cost-effective way to expand your team.
2. Offering flexible work arrangements: In recent research from Remote, 57% of remote workers ranked flexibility as even more important than their compensation. Global remote workers prioritize the ability to set their own schedule or work from anywhere, and may be open to compromising in other areas like salary.
3. Offering top-tier benefits: Remember that even workers located half a world away will expect a competitive employment package with good local benefits. This can be an opportunity to augment the base salary and attract and retain talent, and can include perks like training and development opportunities and retirement savings plans. An Employer of Record can help in this area too by offering locally relevant and compliant benefits packages.
4. Leveraging technology: By using tools and technologies that enable remote work, such as virtual collaboration platforms and communication tools, you can reduce the need for travel and other expenses associated with on-site work.
Overall, hiring remote international talent can be a great way to access a global pool of skilled workers and expand your business. The key to saving costs when hiring remote talent is to be open to new ideas and also be willing to compete for the best talent.
However, it’s important to understand the relevant laws, tax implications, and logistics of managing a remote team to ensure that the process goes smoothly and that you avoid any potential costs or legal issues.