Staffing solutions for remote teams and adapting to a global workforce
Remote work has been regularized since the pandemic struck back in 2019-2020, reshaping how companies operate and recruit talent. However, many organizations still face the challenge of having limited access to top talent, increase in costs of hiring locally, lack of diversity in their workforce, and the trouble of facing compliance issues.
But when should you consider hiring remotely?
Remote hiring is a great strategy for small and large businesses. You may need to rely on remote hiring when you need specialized skills from the professionals you want to hire, as it helps you find talent you may be unable to find in your local market.
In this blog, we will highlight the benefits of hiring remotely, salary insights for various job roles across countries, potential challenges you may face when you hire remotely, and how Global Squirrels offers global staffing solutions for remote teams while also offering payrolling solutions that streamline everything from talent scouting to compliance management.
Four benefits of remote hiring
The shift towards remote hiring has transformed the employment landscape, offering numerous advantages for both you and your potential employees.
1. Access to a global talent pool
With remote hiring, your business gets to access a rich and diverse talent pool that has no boundaries. With this access, your organization gains the ability to access very talented candidates from all backgrounds, experiences, and cultures, which can help drive creativity and innovation in teams.
2. Diverse perspectives and innovation
Hiring remotely encourages diversity by bringing professionals from various cultural backgrounds and experiences. This diversity helps to create innovative solutions and approaches within teams, enhancing your overall business performance.
3. Cost-effectiveness for your business
Hiring remote workers can help your business save on costs. This means you can save on overhead costs of maintaining physical office spaces like rent, utilities, and office supplies. This money can be turned around to employee benefits or technology upgrades.
4. Improved agility and resilience
Remote employees can be more agile and responsive to your changing business needs. With no constraints of setting up physical office space, you can easily scale your workforce up or down depending on your project demands. In a crisis or in a period of fast market change, this kind of flexibility is particularly valuable.
Four countries you should consider hiring form
There are numerous countries you could consider hiring remotely from, which increases your chances of hiring talent who meets your business requirements. But there are limited countries where you will be able to hire professionals with English proficiency, help you save costs, and are ready to work during your working hours.
Source: Glassdoor
Challenges you may face when hiring remotely
Setting up your entity
Some of the common challenges include choosing between creating a subsidiary, branch, or representative office, and each will have different legal implications and operational requirements. There are different jurisdictions and, therefore, different tax obligations. It is necessary to understand local tax laws so you would not be penalized and you can stay in compliance with tax regulations that include corporate tax, employee taxes, and value-added tax (VAT).
Compliance with Labor Laws
Hiring remotely is a complex landscape of labor laws. Employment contracts, taxation, employee rights, and benefits vary from one country to the other. Not having a good understanding of these laws can lead to legal risks. For instance, in India, one key compliance requirement for employers is the Employee Provident Fund (EPF), which is mandatory for companies with 20 or more employees. Under the Employees’ Provident Fund Organisation (EPFO), both the employer and employee must contribute 12% of the employee’s basic salary towards the provident fund. The employer is responsible for ensuring timely contributions and maintaining accurate records. This scheme helps employees save for retirement and provides financial security, making it an essential aspect of compliance with Indian labor laws. Additionally, employers are responsible for other statutory benefits like employee state insurance (ESI) and gratuity.
Payroll management
Managing payroll across different countries involves understanding diverse tax regulations and currency conversions. This complexity can lead to delays in salary disbursement and compliance issues if not handled correctly, which indirectly affects the productivity of the employee.
High staffing costs
Another challenge for businesses looking to hire full-time employees with the help of staffing agencies is facing huge markups and additional fees, raising prices by up to 50%. These additional costs limit businesses looking to hire top talent, especially for small and medium enterprises (SMEs), because they have a limited budget.
Source: Labor law Philippines
Global staffing solutions offered by Global Squirrels
The Global Squirrels platform offers your business global staffing solutions for remote teams by allowing you to hire professionals who meet all your business needs. Our platform also manages all HR functions, such as payroll & benefits, compliance with local and international labor laws, performance management, timesheet and task management, offer letter generation, and more. Global Squirrels saves you time and costs by providing you with profiles within 2 to 5 business days, and our transparent pricing model eliminates any huge markups and additional charges usually asked by other staffing agencies.
By choosing our global staffing solutions, you can solve all your challenges related to hiring remote teams by eliminating the need to set up a legal entity in any other country. Global Squirrels also ensures 100% compliance with local and international labor laws, ensuring that your business does not face any legal risks.
Finally, our platform also handles all your payrolling processes and recruitment. This is done with the help of our Purple and Orange plans.
- Purple Plan: Our purple plan allows you to onboard your current freelancer or an already-sourced professional. It handles all HR functions, such as managing payroll & benefits, timesheets & tasks, performance, compliance with employment laws, and offer letter generation, which includes notice period and exclusivity clauses.
- Orange Plan: This plan finds and hires talent who meet all your business requirements and also handles their payroll and HR-admin-related activities. You can begin by signing up on our platform and providing all the important information, such as the job description, type of employment (part-time or full-time), qualifications, skills & experience, and the countries you want to hire talent from. You will receive pre-screened and curated profiles within 2 to 5 working days. From here, you can proceed with choosing your preferred talent for further interviews. After selecting the candidate(s) you want to onboard, our platform will begin the onboarding process by handling all the HR functions mentioned above.
Our platform offers global staffing solutions for remote teams that allow you to save up to 20% on hiring with the help of our transparent and flat fee pricing model. This pricing model eliminates the huge markups and additional fees charged by other BPOs. This ensures that you do not need to compromise on your budget while attracting top talent from across the globe by providing them with industry-standard compensation than you would with other BPOs.
Are you ready to try our staffing solutions for remote teams? Request a demo today!
