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The Explosion of Remote Work: What is the impact of a global digital workforce?

The Explosion of Remote Work

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Today, highly skilled professionals with experience in world-class companies are available remotely, and willing to work in other territories at a lower cost. This offers an opportunity for businesses to access a growing pool of digital nomads. 

As leaders look to unlock the power of this everywhere workforce, more businesses are leveraging the expertise of an Employer Of Record (EOR) – a service that was already fast-growing but has been supercharged by the pandemic.

64% people now say that being asked to return to the office would lead them to consider finding a new job

Navigating the new normal: What is the impact of a digital workforce?

According to a recent study by Tracking Happiness, there’s been a –

📈 13% Increase in Productivity in people working from home.

😃 20% Increase in Happiness among remote workers.

The shift to remote work has reshaped many aspects of Human Resource management. Now, instead of in-person interviews, there’s the occasional unexpected pet appearance on a video call.

The global talent pool has expanded, but so has the competition. Virtual coffee breaks have replaced traditional team-building activities, and ensuring work-life balance now means checking that team members aren’t sending emails during personal commitments.

Adjusting to these changes has been a significant journey for HR professionals everywhere. Let’s analyse some of the deeper impacts of remote work: 

01. A more flexible and dynamic workforce
Remote job has given employees greater flexibility in managing their work-life balance. This shift has allowed people to work from different locations, reducing the need for long commutes and providing the opportunity to tailor their work hours to suit their personal lives better. As a result, companies have had to adapt by implementing more flexible work policies and offering a range of remote work options to attract and retain talent.

02. The potential to unlock global talent pools
The ability to work remotely has expanded international talent pools for companies of all sizes and industries. Business leaders are no longer restricted to hiring talent within their immediate geographical vicinity. They can now tap into a global workforce, potentially leading to greater diversity and a broader range of skills and perspectives. This has encouraged a more competitive job market and the need for organisations to develop robust remote work policies and technologies to support dispersed teams.

03. Sustained economic and environmental implications
The widespread adoption of remote work has had economic and environmental implications. On the one hand, it has reduced business costs by decreasing the need for physical office space, utilities, and associated expenses. On the other hand, it has affected local businesses that rely on office workers, such as restaurants and dry cleaners. Additionally, reducing commuting and office energy consumption has decreased greenhouse gas emissions, contributing to environmental benefits and discussions about the long-term sustainability of remote work as a model for reducing carbon footprints.

Looking to decentralise your business? Here's what you should keep in mind

So, you’re eyeing the global talent pool for your team? Smart move! But remember, hiring international remote workers isn’t just about resumes and interviews.

Time zones can be tricky, so ensure you’re setting up meetings that aren’t in the middle of someone’s night. Dive into the local employment laws and customs – what’s standard in one country might be unusual in another. Don’t skimp on the onboarding process, everyone should feel part of the team, regardless of location. Tools are essential, so invest in solid communication and project management software. And finally, be patient and flexible. Every new hire brings unique insights and might need time to align with your company’s rhythm. 

On the business front, you need to enable your HR and payroll teams to focus on four key aspects of global remote work:  

01. Confirm remote suitability
Ensure the job can be done remotely by assessing tasks, virtual meetings, and necessary tools.

02. Adapt local perks and benefits
Offer remote-friendly perks like medical benefits, and flexible schedules, and adapt onsite benefits for remote employees.

03. Ensure compliance with local labour laws
Every country has labour laws governing minimum salaries, vacation days, and benefits. You don’t want to break any of these laws. Some countries even have legislation about what you must post in job ads for specific roles. Thus, compliance with employment law starts even before you hire someone. It can get complicated, especially if implementing a remote hiring process in multiple countries. For help with compliance in remote hiring, among many other things, you can trust Horizons.

04. Establish a remote onboarding process
Remote international hiring requires a remote onboarding process that differs considerably from an in-house onboarding program. A global EOR provider like Horizons can help you set up payroll processes without establishing an entity in a foreign country. 

Why should you choose to hire via a global EOR provider like Horizons?

An International EOR (Employer of Record) might be your golden ticket to navigating the complexities of an international workforce. It streamlines global hiring by managing local employment nuances, ensuring compliance, and offering a seamless experience for both businesses and international employees. Dive in to explore how an EOR can revolutionise your global reach.:

01. Reduced payroll costs
As payroll and hiring experts, global EORs like Horizons process payroll and administer benefits, quickly, and without errors

02. Reduced compliance costs
There’s no need to engage separate lawyers or tax advisors, EORs work as local experts in foreign regions

03. One point of contact for your local team (the EOR)
Instead of multiple entities and subsidiaries, you can have a single point of contact for all your hiring and payroll management needs

04. Strategic advice from global HR experts
When unexpected questions come up you can trust local legal experts on matters of all things related to international payroll, compliance and and HR

05. Simplified payments
One monthly invoice for your global team, rather than paying separately in each country

Hire global talent compliantly across 180+ countries within 24-hours

As a leading global EOR provider, Horizons can help your business recruit the best talent from anywhere in the world. Experts in global remote worker recruitment, we handle all compliance and payroll obligations related to hiring foreign workers, allowing you to expand your business operations quickly and compliantly.

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