The advent of the Internet of Things (IoT) and the lessons learned during the recent COVID-19 pandemic have taught that companies and employees working remotely for overseas companies is feasible. Remote working is why thousands of professionals seek work opportunities at international companies. On the other hand, employers are also starting to embrace the many benefits of employing offshore candidates. The benefits are as follows:
Expand your talent pool: opening up opportunities to offshore candidates immediately increases the talent pool size from which you can choose the right match for your organisation. Furthermore, this gives you access to scarce skills and candidates for those hard-to-fill positions.
Benefit from labour arbitrage: save costs as candidates from some countries may come at a significantly reduced cost. Many emerging nations, such as South Africa, have excellent talent on offer because of their suppressed job markets.
Inject new ways of thinking: it provides a wonderful opportunity to breathe fresh ideas into your teams and revitalise creativity. Offshore employees bring with them new ideas and often approach problems differently, something that helps promote alternative thinking and new approaches.
Extend your social networks: employing offshore means that your company now has a foothold in a foreign country, a node from which your brand message is distributed. Foreign employees will bring new knowledge of local markets and often a strong network of local contacts. What better way to consider new growth opportunities?
Enhance your brand reputation: companies who hire internationally are seen as more open in their thinking and more supportive of diversity. So-called citizens of the world attract better growth opportunities as they typically enjoy more reputable status with their international clients and associates.
Employing people in a remote destination need not be as expensive and risky as it used to be. It is optional for you to create your legal entity in the country you wish to employ. Today, many Employer-of-Record (EOR) companies offer hassle-free mechanisms for onboarding and payrolling offshore employees. Companies such as OUTprof, assist companies in creating their in-country legal entities and those who would prefer to use an EOR supplier.