Out of everyone whose job could be done remotely, nearly 60% of Americans are choosing to stay home and away from the office. And it’s not just Americans who have embraced remote work in the past few years.
Millions of people all over the world choose to work remotely for a variety of reasons. This growing trend allows companies to hire top talent not just from their local area, but from anywhere in the world.
However, hiring those in other countries is a tricky process. That’s where global employment organizations (GEO) come in handy.
Global employment organizations simplify the legalities of cross-border hiring, whether you are working with freelancers or full-time employees.
Keep reading below to learn more about global employment solutions so that you can start accessing worldwide talent for your company.
What Is A Global Employment Organization?
So what is a GEO? It’s a third-party entity that solves a lot of problems regarding staffing and hiring around the world.
Say an American company wanted to hire a worker in Japan. That worker couldn’t be hired as a full-time employee like a local American employee could.
Instead, the company would likely need to hire them as an independent contractor, which has its own set of pros and cons.
Or, if the company wanted to take its foreign hiring seriously, it could open up a local subsidiary in that particular country. This process takes time and costs a lot of money to start and maintain.
But it’s necessary in order to abide by local tax laws, employment rules, and visa regulations.
Or, the company could work with a GEO to ensure their new hire gets access to payroll, tax automation, and benefits. The GEO would technically be their local employer.
The GEO has a presence in that country, understands and abides by all local regulations, and streamlines the process of hiring those in other countries, or moving current staff into new markets around the world.
You can find more info here about the intricacies of a GEO.
Benefits Of GEO For Distributed Companies
So why would you want to use a GEO to handle the hiring of international staff? Here are just a few good reasons.
Access Global Talent Pools
The best and brightest workers might not live in your local market. If you aren’t willing to work with a distributed team, you are limited in the types of people you’ll be able to hire.
When you work with a GEO and are willing to hire those across the globe, you can access talent from anywhere. This can help you find the most qualified individuals to fill roles at your company.
You won’t have to pay tens of thousands of dollars to relocate employees to your location. And managing remote staff can save a ton of money over having employees working in-house.
Send Recruiters Into New Markets
If you’re looking to build a team in a particular market, the most effective way of doing this is by using a recruiter. Recruiters are specialists in finding and screening the most qualified candidates for particular positions.
By using a GEO, you can send recruiters into any country on Earth to scout and build out teams on your behalf.
Send Employees Or Teams Into New Markets
Looking to expand your business by moving into new, international markets? By working with a GEO, you can streamline that process and make the transition as simple as possible.
By sending a team of employees abroad, they can continue working for you without any hiccups or interruptions as far as payroll, taxes, and benefits that they rely on.
Sending an existing team of employees like this can help you to test new markets quickly and affordably, without having to build anything from the ground up before understanding the viability of the market.
Bypass Costs Of Establishing A Foreign Entity
In the past, companies were required to open up foreign entities if they wanted to do business abroad. While some still do it today, it can be very expensive.
They need to hire lawyers, accountants, and visa experts in both countries to ensure compliance on every level.
By working with a GEO, you can avoid all of those expenses and work with one entity that handles all of these aspects for you.
Offer Benefits To Attract Top Talent
Hiring independent contractors from around the globe is easier now than ever before. But finding high-quality individuals, and ensuring they stick around for the long term can be difficult.
That’s why it’s important to offer a benefits package to your global workforce. But providing benefits can be very difficult, thanks to the red tape of working with international employees.
A GEO makes it simple to offer benefits to your distributed workforce that abides by local regulations and tax laws. And they can act as your global HR team so that you don’t need to hire a dedicated person or team to do this.
So once you find top talent from around the world, you can keep them on your team for the long term. No longer do remote workers need to trade benefits for flexibility, making it a win-win.
Local Expertise
When working with people in markets around the world, it’s imperative to have local experts on your side. Every country has its own set of rules and regulations.
Not only that, by finding workers in those markets can be challenging if you don’t have an existing network to tap into.
By working with a GEO that has already established networks around the globe, you can tap into that as you begin the hiring process. You don’t need to start from scratch, because a quality GEO has already laid the foundation.
Plus, their expertise in working within various markets, and following all local regulations, will help you avoid any costly issues later down the line.
Global Employment Is The New Reality
The world is getting smaller. As a company, you no longer need to be restricted by your immediate area. Global employment organizations make it simple to find top talent around the world and to expand business operations into new markets with ease.
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