As the world grows more integrated and connected, it has become common for companies big and small to target international talent. The “office,” as it was once conceived, is no longer a physical place — it is a team spread across time zones, all pushing toward the same organizational goals.
If you’ve considered hiring remote international employees but are unsure how the practice can benefit your company specifically, consider the points below. Please note that hiring internationally will require the help of a global Employer of Record (EOR) like Borderless AI. An EOR assumes the legal and HR responsibilities for international employee management, ensuring compliance and lowering your risk exposure throughout the process.
Cost Reduction
A commonly cited reason for hiring international employees is cost reduction. Often, equivalent talent can be found in other countries at a fraction of the price here in the US.
Tech roles are a glaring example of this fact. A backend developer position in California commands a comfortable six-figure salary, the same role in Eastern Europe (where STEM education is world-class) demands about a half or third of that salary. The same principles apply to customer service roles, business development positions, and several other jobs.
Heightened Diversity
Diversity, equity, and Inclusion (DEI) is more than just a modern buzzword in business parlance.
Expanding organizational diversity opens you up to new perspectives and skill sets. This broadening approach helps you fine-tune your products/services, understand diverse market segments, increase relateability, and craft a more attractive company culture.
Round-the-Clock Productivity and Service
Here are two simple case studies illustrating why businesses benefit from spreading their labor force across time zones.
One, let’s say that you run a popular Fintech app company. You need to provide round-the-clock customer service to satisfy clients in other time zones (or night owls in this country). Naturally, you would turn to international remote employees to fill the gaps.
Two, imagine a telecommunications company that needs to address bugs, tweak coding, and monitor service to ensure consumer satisfaction. Rather than siloing these responsibilities to a North American workday, you increase productivity by supplementing your core teams with round-the-clock workforces in Europe and Asia.
New Market Expansion
When trying to gain a foothold in overseas markets, you need local know-how and talent. They’re the ones who will oversee the distribution of your product, and aid in tailoring the sales, marketing, and support divisions of your company to the new market.
Expansion into new markets is only possible with a dedicated local workforce. In these cases (as above), it’s imperative to find a quality EOR partner to ensure your company is compliant, and that your local teams are happy to ensure high employee retention rates.
To summarize, companies considering hiring overseas remote employees can expect to reap several benefits. You can save money, increase diversity, drive productivity, offer unparalleled support, and expand effortlessly into new markets. To do it right, connect with a trusted EOR provider to hire, manage, and pay your new international employees without the hassle of entity establishment.
