Maybe you’ve dabbled with hiring one or two people from overseas during your time as an entrepreneur or CEO. But have you ever considered expanding your workforce to include international employees? It’s a move becoming more commonplace among companies of all sizes — not for cost savings on cheaper labor, but to access the world’s best talent for open positions.
So what exactly are the advantages of looking beyond national borders for full-time employees, seasonal workers, and independent contractors? Check out the following upsides.
1. You’ll stay at the front of the remote work curve.
Remote work has moved from the back of the house to the front of the stage in record time. In fact, telecommuting has arisen as a must-have benefit for many job seekers. Consequently, businesses are revising their workflow processes to allow more people to work from home.
In its 2021 Global Workforce Revolution Report, global HR provider Remote shows just how popular “work from anywhere” has become. Two-thirds of Remote’s survey participants said they expected to increase their virtual and hybrid-style working choices. And when asked, American employers felt that four out of 10 up-and-coming positions would be held by team members overseas.
These statistics show that work is expanding in a borderless direction. By bringing international staffers and contractors into your circle now rather than later, you’ll position your company as a leader in the movement.
2. You’ll extend your candidate reach.
By October 2021, even The Wall Street Journal was lamenting the disappearance of 4.3 million employees from the United States labor market. Indeed, some experts interviewed by the Journal believe that the post-pandemic worker shortage may last for years. Here’s the problem: You need high performers today.
Being able to source talent from anywhere without geographic limitations eliminates your worries about finding someone perfect down the street. Instead, you can find and hire anyone with the skills you need and access to a dedicated internet connection. Plus, you can finally construct the diverse, inclusive team you’ve dreamed about for so long.
To help you prepare for the shift, you may want to work with a partner company familiar with hiring and training overseas personnel. That way, you won’t have to worry that you’ll run into local compliance or salary issues.
3. You’ll open doors to new markets.
Let’s say you bring in a talented crew from one or more countries. In time, those individuals may help you break ground in uncharted areas. Perhaps they’ll realize that your product could make a splash in their community. Or they might hear of another company seeking a strategic partnership.
If nothing else, your workers will likely give your company recognition in their hometown. This could lead to marketing, advertising, or promotional opportunities. Who knows? You could end up scaling next year in a way you never intended.
Really, the international talent you snag today could end up as tomorrow’s leaders for your company’s global arm. Even if you never dreamed of taking your sales footprint overseas, you might end up rethinking that direction when you see how easy (and lucrative!) international expansion can be.
4. You’ll keep your tech stack fresh.
A wave of digital transformation is coming and coming fast. Eighty-five percent of business leaders McKinsey surveyed admitted they’d need to upgrade or adopt new tech by 2023. Otherwise, they said they wouldn’t be able to compete. You won’t have to worry about being left behind, though, if you hire globally.
When you start working with a remote team, you naturally will have to keep your tech stack up to date. After all, you’ll need everyone to be able to access information 24/7.
Updating your software and systems likely will require an upfront investment, yet that investment will pay off rapidly. Your entire team will be able to work together with tremendous efficiency. That means your company will be able to keep business rolling without missing a beat.
Hiring workers who are located abroad might not have been your plan a year ago. But that was then — and now, international hiring could be the advantage your company needs. Start small with your next job or project opening and take it from there. You may be surprised at how exciting and profitable it can be to tap top talent from different cultures and time zones.