We’re living in an increasingly interconnected world, and this can offer a vast range of opportunities for startups seeking to scale efficiently with the best international remote talent.
The early stages of a startup are invariably the most challenging, and weak hires can undermine a good business plan at a rapid pace. So how can small teams recruit effectively amid a fiercely competitive and diminishing talent pool?
ManpowerGroup data shows that 75% of employers experience difficulty in filling roles, and the challenge of finding the right workers to suit your business needs with minimal risk of churn or underperformance can be overwhelming for small businesses.
It’s for this reason that more startups are looking to unlock the potential of accessing remote talent pools on a global scale. While this process would’ve been too complex for small recruitment teams until recently, technology is paving the way for a more frictionless process of discovering the best international prospects.
With this in mind, let’s explore four key approaches that can be undertaken for startups to acquire the strongest international talent in an efficient manner.
1. Incentivized Referrals
With 88% of employers believing that referrals are the most effective means of hiring talent, implementing an incentivized referral program can work wonders in building a strong remote team for startups without spending big money on enlisting the help of agencies.
When building an international team, you’ll gain access to employees with more international connections through their employment history and by networking locally.
This can help your startup tap into talent pools in emerging economies with more advantageous salary expectations to find the most appropriate new hires at rates far more budget-friendly than domestic inner-city hires.
Incentives can be monetary-based, or could offer more holiday time, company benefits, or free products depending on your industry.
This process can also be automated through dedicated referral programs that provide portals to submit referrals and track their progress through integrated messaging platforms like Slack.
2. Manage Compliance with an EOR
Employer of Record (EOR) services offer businesses of all sizes direct access to international remote workers and can work wonders for startups seeking to access talented candidates that may otherwise be too challenging to discover without external help.
The true value of an EOR can be found in compliance management. Because different nations have varied and sometimes complex legal and tax requirements associated with domestic workers, a strong EOR will help to cover the regulatory aspects of hiring overseas, ensuring that your startup won’t be at risk of any unwanted fines or falling into hot water with regulators.
This easing of administrative burdens comes alongside the ability for EOR services to access talent pools in hundreds of countries around the world, paving the way for more strategic access to the best possible recruits for your roles.
3. Using Technology to Discover Talent
Globally, many different emerging economies can provide startups with access to strong talent pools with budget-friendly wage requirements, and it certainly pays to research prospective markets before deciding where to focus your search.
Factors like economic and political stability will be core to your business, and the availability of leading social apps that can improve collaboration between remote teams is also vital.
Fortunately, collaboration tools are becoming increasingly commonplace globally, and recent advances in artificial intelligence have helped to provide seamless overseas collaboration between employees.
For instance, Microsoft Teams offers real-time translation functions for chat messages and Microsoft Office integrations, while Slack features integrations with Google Translate and the ability to create different channels for local language or regional collaboration.
Video collaboration leaders like Zoom and Google Meet both offer translations in the form of live transcription and live captions, respectively, meaning that you can interview, onboard, and communicate with international hires regardless of their level of fluency in English.
4. Distributed Cybersecurity
One of the biggest challenges of hiring overseas remote workers stems from cybersecurity concerns. Working away from offices means less secure intranet access to company data and more trust placed in WiFi connections that could offer dubious levels of security.
Fortunately, startups can counter this issue by adding training programs that encourage the use of a secure VPN, safe storage in the cloud, and a more robust level of scrutiny for possible phishing attacks.
We’re also seeing technology like machine learning helping businesses of all sizes to detect threats seeking to access company data from anywhere in the world. In actively monitoring unusual activity and learning the strategies that cybercriminals take, this technology is helping startups unlock overseas talent more securely.
Embracing the Potential of Remote Work
Remote work has quickly evolved to become the new normal for many industries, and this can offer plenty of opportunities for startups to grow strategically with the best possible international hires and access to the level of cost-effective talent that would otherwise be out of reach.
In capitalizing on these opportunities sooner rather than later, entrepreneurs can build their ideal teams using emerging technologies to ensure a smoother path to sustainability. This compliance-friendly approach will be key to securing your growth and can help to ensure that you continue to reap the benefits of international talent pools long into the future.
