Why Businesses Should Hire Internationally in 2022

Benjamin Stewart | National Sales Manager - US, CloudPay

As the business world becomes more global by the day, it’s natural to explore options for hiring new staff in different territories. However, many firms still shy away from it, citing the complexity of dealing with multiple sets of laws; difficulties around communication, collaboration and training; and the complications it can add to running payroll.

These challenges are not insurmountable, though, and the benefits of hiring employees from further afield can substantially outweigh the difficulties. In this blog, we’ll highlight five reasons why unshackling your organization from geographical hiring boundaries can help you grow and succeed:

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Access a larger talent pool

At a time when nearly 73% of employers are finding it difficult to find relevant candidates to recruit, every opportunity has to be taken to find great employees. But if you’re only hiring talent from the country where your business is headquartered, then it’s increasingly the case that you’re hiring with one hand tied behind your back. Spreading the net globally, whether for employees working from new offices overseas or connecting virtually to a worldwide workforce, gives you the best possible chance of getting the skill set your business needs.

 

Benefit from cultural exchange

When you have a workforce that’s made up of people from different countries, they have a much wider variety of different backgrounds, life experiences and outlooks. This diversity of thought can be immensely valuable to a business, by adding new ideas and creativity to their decision-making processes and day-to-day company culture. When employees in one region are able to demonstrate their ideas to co-workers in another, the overall knowledge base of the workforce can improve, and people can have their minds opened to new perspectives.

 

Work regulations to your advantage

The differences in laws, payroll regulations and compliance requirements from country to country can be seen as an opportunity rather than a challenge. Companies with a global outlook can site more of their operations in countries where the regulatory climate is more friendly and less complicated, helping keep operational costs down and potentially drive a competitive edge. The use of a global payroll solution that simplifies the process of running payroll across multiple countries and currencies can be particularly useful in making this remote work approach possible.

 

Increased productivity

A global approach to your workforce means you can break out of the traditional nine-to-five. Imagine, for example, a situation where you have three teams all contributing to the same department: in Los Angeles, London, and Perth. The time zones of these three cities are all fairly evenly spaced around the world, between seven and nine hours apart from each other. Between them, those three teams can ensure that the department is operating virtually 24 hours a day, massively increasing productivity potential, reducing customer turnaround times and improving efficiency.

 

Improve your local business understanding

Getting business right in multiple markets requires good expertise of how those countries operate, economically, politically and culturally. There is no substitute for local expertise in this situation, especially in gaining insights to certain ‘quirks’ that wouldn’t always be obvious or apparent to an outsider. Hiring employees with this expertise in their native countries can therefore give companies the edge in new markets, especially because these employees speak the local language and know particular customs.

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In summary

As all the points above demonstrate, a more positive outlook towards hiring staff from around the world can quickly generate benefits that can spread throughout your business. Part of the way forward is technological, through innovations like global payroll solutions, and part of it is driven by people through changes to HR and hiring policies. However, as the coronavirus pandemic has ably demonstrated over the past couple of years, a distributed and diverse network of employees connected virtually shows a successful way for most types of global business and the future of work.

 

CloudPay is a leader in global payroll, both for our innovative solutions and for the expertise we have gained in markets all over the world. Learn more about what we do and how we do it here.

 

Benjamin Stewart | National Sales Manager - US, CloudPay

 

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