Hiring the right individuals for your UK-based business can always be met with a bit of trepidation.
You need to make sure they are appropriately qualified and that they will fit into the culture you have worked hard to establish.
Hiring homegrown talent can be laborious and costly, especially when there are cheaper options out there.
Looking to the rest of the world and taking advantage of international remote talent can often work out best for UK-based businesses.
Accessing a global talent pool
Many hiring managers will recognise the feeling of mild despair when you have had a vacancy open for a while and still have not found the right person to fill it. It may be that local talent is tapped out, so you need to get creative.
Accessing talent overseas can open up a whole world of possibilities. Finding someone who has the specific knowledge and skills you need in another country means you can still take advantage of hiring them, just remotely.
Cost savings and increased efficiency
There are many direct cost savings which can be attributed to hiring a remote workforce. In London, businesses can be paying up to £150 per square foot in the city for office space, which adds up quickly as you expand and take on more employees.
Remote workers don’t need desk space in an office, meaning you can scale down to your core staff or adopt a hybrid formula for those based in the UK.
Hiring skilled remote workers from different countries means that the wages you pay may work out being cheaper once exchange rates are taken into account.
That being said, make sure you don’t break any local labour laws by paying too little! You could always use an employee cost calculator to make sure your ballpark figure is realistic.
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Simplifying compliance with an Employer of Record
Staying on the right side of the law both in the UK and wherever your remote workers are based should be of immediate priority. Failure to comply with tax laws and local labour regulations could result in financial penalties and even criminal proceedings.
There are some solutions to this pressure. Partnering with an employer of record means you can simplify your compliance responsibilities and have peace of mind that all legal and payroll obligations are satisfied. This is all done without needing to establish a local entity in each country.
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Enhancing diversity and global perspectives
Having a diverse team can be an incredibly big advantage to any business.
Hiring people from different backgrounds, countries and genders means that they have unique life experiences which can foster new ideas. Driving innovation, creativity and adaptability will help the organisation grow into a successful industry leader.
Remote workers based overseas can also work in your favour when it comes to potential growth. If you did decide to set up a physical presence abroad, having an established workforce that you trust can help greatly in setting up operations as well as give them a chance to progress in the new branch.
