5 Reasons Why Hiring Globally Can Benefit Your Business
Not so long ago, remote work was being described as the ‘new normal’. Nowadays, it’s simply normal, with many businesses choosing to continue embracing the trend despite no longer being forced to do so. In fact, a 2023 study highlighted that over a third of US employees now work remotely all the time.
One of the enduring attractions of remote work is that it theoretically removes geographical barriers when it comes to seeking new talent, meaning companies are increasingly able to look overseas for their next recruits. Whether you’re hiring an employee or a consultant, going global may be an appealing option.
But what are the advantages of hiring globally? Why would a business opt for a remote hire from another country rather than someone on their doorstep?
Let’s explore 5 reasons why hiring globally can be a good thing for your business.
1. It gives you access to a wider talent pool
Businesses that operate an office-only culture and limit themselves to employing locally will naturally have a finite pool of talent to choose from, meaning it may be more difficult to source high-caliber candidates — particularly for niche or specialist roles that demand a very specific set of skills.
If you’re a remote-first company that’s willing to employ talent globally, on the other hand, geography has little to no bearing on your recruitment strategy, and therefore you theoretically have a world of talent to draw upon. This can significantly increase the number of candidates who apply for your vacancies, enhancing the probability of finding someone with precisely the right skills, experience and profile to fit the position you’re hiring for.
Ultimately, hiring remote talent from overseas provides greater access to a diverse range of skilled, highly-qualified candidates, which not only means you’ll likely end up with a better quality of employee, but it may also help to speed up the overall recruitment process by enabling you to locate and hire the right talent even quicker — primarily owing to a lack of geographical limitations and a greater abundance of quality applicants.
2. It offers global expansion opportunities
For any business looking to expand internationally, hiring from a global talent pool is something of a no-brainer. Not only does this display your commitment to becoming a truly global enterprise, but it can uncover invaluable insights about the market(s) you’re planning to expand into and potentially open up access to useful local contacts.
Market research is a critical component of global expansion, enabling you to gain a deep understanding of key market trends and consumer preferences and tailor your strategy accordingly. And while it is possible to conduct this as an outsider, hiring someone who knows the local market — and can navigate challenges such as language barriers — will certainly give you an edge.
Of course, it’s also important to consider cultural factors when entering a new international market, as these can have a significant impact on how you market your business to potential customers in the region. Failing to understand these nuances might lead to your business coming off as ignorant or culturally-insensitive, while an employee with an in-depth knowledge of the local culture can help you tailor your messaging appropriately.
3. It increases diversity and innovation
Championing and promoting diversity is increasingly important in the workplace, especially when you consider that over three quarters of job seekers say diversity is a key factor when assessing a job offer. It’s essential that today’s businesses adopt a transparent recruitment process that doesn’t discriminate and affords the same opportunities regardless of gender, ethnicity, physical ability, sexual orientation, or religious beliefs.
But diversity and inclusion aren’t just important for a business’s reputation — they can also help to promote innovation and open up new opportunities and perspectives. Having a diverse team with a range of experiences and backgrounds brings a more varied set of views and beliefs to the table, ultimately helping businesses to be bolder in their decision-making and embrace new ways of doing things.
And while companies that champion diversity have a greater capacity to innovate, evolve, and adapt, businesses with a lack of diversity are likely to stagnate, often suffering from tunnel-vision and leaning on a “we’ve always done it this way” mentality. This closed-shop attitude can stifle innovation and growth.
4. It enhances productivity across time zones
Hiring globally is also advantageous for your company’s overall productivity, chiefly because it affords you around-the-clock coverage — meaning your workflow is always moving even when many of your employees have clocked off. By having team members working across varying time zones, projects can move forward without unnecessary delays, reducing bottlenecks and enabling continual progress.
In a geographically-dispersed business, a high level of productivity is reliant on effective asynchronous communication, a workplace concept that doesn’t demand real-time collaboration (which is key, because often time zones don’t allow for this). Instead, working asynchronously empowers employees to work autonomously, with communication not always expected to be immediate.
Moreover, if you’re a customer-facing business with an international clientele, it’s essential that you’re available to your global customers on their terms — if your customer service team is only contactable from 9 to 5 in the country you’re primarily based in, you risk alienating customers in other time zones who are unable to get answers to pressing queries at a time which suits them.
5. It can reduce your costs
In these cost-conscious times, it’s natural that businesses are keeping a close eye on their finances, always considering ways to trim their expenditure and introduce more cost-efficiency. Well, one of the ways to do this might be to hire globally, as doing so can introduce significant cost-saving capabilities when compared to recruiting locally.
For one thing, embracing a location-agnostic, remote-first approach means less (or perhaps no) need for a dedicated office space, with employees working either primarily or exclusively from a remote location. This can save on office-related factors such as rent, maintenance, security, and equipment.
Furthermore, hiring remotely in another country with a comparatively low cost-of-living can be significantly less expensive than hiring locally. In tech talent-rich markets such as India, for example, workers are typically paid less than their counterparts in the West, meaning you can recruit highly-skilled employees at a fraction of the cost.
In conclusion, hiring global talent can be hugely advantageous for businesses looking to tap into a wider talent pool, open up global expansion opportunities, benefit from increased diversity, increase productivity, and reduce costs. Remote work has made international recruitment increasingly possible (not to mention straightforward), and many businesses are already taking advantage of this opportunity.
One of the enduring attractions of remote work is that it theoretically removes geographical barriers when it comes to seeking new talent, meaning companies are increasingly able to look overseas for their next recruits. Whether you’re hiring an employee or a consultant, going global may be an appealing option.
But what are the advantages of hiring globally? Why would a business opt for a remote hire from another country rather than someone on their doorstep?
Let’s explore 5 reasons why hiring globally can be a good thing for your business.
1. It gives you access to a wider talent pool
Businesses that operate an office-only culture and limit themselves to employing locally will naturally have a finite pool of talent to choose from, meaning it may be more difficult to source high-caliber candidates — particularly for niche or specialist roles that demand a very specific set of skills.
If you’re a remote-first company that’s willing to employ talent globally, on the other hand, geography has little to no bearing on your recruitment strategy, and therefore you theoretically have a world of talent to draw upon. This can significantly increase the number of candidates who apply for your vacancies, enhancing the probability of finding someone with precisely the right skills, experience and profile to fit the position you’re hiring for.
Ultimately, hiring remote talent from overseas provides greater access to a diverse range of skilled, highly-qualified candidates, which not only means you’ll likely end up with a better quality of employee, but it may also help to speed up the overall recruitment process by enabling you to locate and hire the right talent even quicker — primarily owing to a lack of geographical limitations and a greater abundance of quality applicants.
2. It offers global expansion opportunities
For any business looking to expand internationally, hiring from a global talent pool is something of a no-brainer. Not only does this display your commitment to becoming a truly global enterprise, but it can uncover invaluable insights about the market(s) you’re planning to expand into and potentially open up access to useful local contacts.
Market research is a critical component of global expansion, enabling you to gain a deep understanding of key market trends and consumer preferences and tailor your strategy accordingly. And while it is possible to conduct this as an outsider, hiring someone who knows the local market — and can navigate challenges such as language barriers — will certainly give you an edge.
Of course, it’s also important to consider cultural factors when entering a new international market, as these can have a significant impact on how you market your business to potential customers in the region. Failing to understand these nuances might lead to your business coming off as ignorant or culturally-insensitive, while an employee with an in-depth knowledge of the local culture can help you tailor your messaging appropriately.
3. It increases diversity and innovation
Championing and promoting diversity is increasingly important in the workplace, especially when you consider that over three quarters of job seekers say diversity is a key factor when assessing a job offer. It’s essential that today’s businesses adopt a transparent recruitment process that doesn’t discriminate and affords the same opportunities regardless of gender, ethnicity, physical ability, sexual orientation, or religious beliefs.
But diversity and inclusion aren’t just important for a business’s reputation — they can also help to promote innovation and open up new opportunities and perspectives. Having a diverse team with a range of experiences and backgrounds brings a more varied set of views and beliefs to the table, ultimately helping businesses to be bolder in their decision-making and embrace new ways of doing things.
And while companies that champion diversity have a greater capacity to innovate, evolve, and adapt, businesses with a lack of diversity are likely to stagnate, often suffering from tunnel-vision and leaning on a “we’ve always done it this way” mentality. This closed-shop attitude can stifle innovation and growth.
4. It enhances productivity across time zones
Hiring globally is also advantageous for your company’s overall productivity, chiefly because it affords you around-the-clock coverage — meaning your workflow is always moving even when many of your employees have clocked off. By having team members working across varying time zones, projects can move forward without unnecessary delays, reducing bottlenecks and enabling continual progress.
In a geographically-dispersed business, a high level of productivity is reliant on effective asynchronous communication, a workplace concept that doesn’t demand real-time collaboration (which is key, because often time zones don’t allow for this). Instead, working asynchronously empowers employees to work autonomously, with communication not always expected to be immediate.
Moreover, if you’re a customer-facing business with an international clientele, it’s essential that you’re available to your global customers on their terms — if your customer service team is only contactable from 9 to 5 in the country you’re primarily based in, you risk alienating customers in other time zones who are unable to get answers to pressing queries at a time which suits them.
5. It can reduce your costs
In these cost-conscious times, it’s natural that businesses are keeping a close eye on their finances, always considering ways to trim their expenditure and introduce more cost-efficiency. Well, one of the ways to do this might be to hire globally, as doing so can introduce significant cost-saving capabilities when compared to recruiting locally.
For one thing, embracing a location-agnostic, remote-first approach means less (or perhaps no) need for a dedicated office space, with employees working either primarily or exclusively from a remote location. This can save on office-related factors such as rent, maintenance, security, and equipment.
Furthermore, hiring remotely in another country with a comparatively low cost-of-living can be significantly less expensive than hiring locally. In tech talent-rich markets such as India, for example, workers are typically paid less than their counterparts in the West, meaning you can recruit highly-skilled employees at a fraction of the cost.
In conclusion, hiring global talent can be hugely advantageous for businesses looking to tap into a wider talent pool, open up global expansion opportunities, benefit from increased diversity, increase productivity, and reduce costs. Remote work has made international recruitment increasingly possible (not to mention straightforward), and many businesses are already taking advantage of this opportunity.