Onboarding talent, near and far, with the help of employer of record (EOR) services
Amid a talent shortage and a remote-first environment, companies are hiring internationally using distributed workforce management solutions that simplify remote employment.
Every company wants to hire the best person for the job – and increasingly, more companies are willing to look further afield for that right candidate, wherever they happen to live.
Remote-first work is on the rise, led by the tech industry. Yelp, PayPal, Spotify and Airbnb have all announced fully remote work set-ups, motivated in part by employees’ strong preference for remote work. In a global war for talent, offering remote work as an option can be a way to fill a job role from a much broader talent pool, as well as a solution that keeps valued employees onboard.
While some point to the challenge of building a strong company culture without having workers present in the same physical offices, others believe that as traditional corporate norms evolve, new opportunities that tap on the power of tech will ensure that remote workers feel a sense of ownership over their roles.
Said Mr Chris McNamara, chief revenue officer at distributed workforce management platform Remote: “Remote work models unlock tremendous benefits for both individuals and companies. However, they require viewing remote work not as an exception to the norm of daily working life but as a purposeful component of building a remote-first culture. By leaning into transparency and documentation, and granting employees the autonomy to take ownership of tasks and make decisions, organisations can bridge the physical divide and unite their team members in a shared sense of purpose and belonging.”
FROM INDEPENDENT CONTRACTOR TO VALUED EMPLOYEE
As more companies build global remote teams that include both employees and contractors, they are keen to provide an inclusive and welcoming experience that will attract and retain talent.
This means making sure that payment processes are smooth, local benefits are competitive, and that time-keeping and attendance policies are easily implemented across locations. When administrative complications are minimised, workers are free to focus on what really matters – maximising their skill sets and talent to help businesses grow.
In addition, both remote employees and companies naturally want to avoid the pain of compliance issues that stem from complex legal requirements in different locales. Beyond the workload of unravelling these complicated situations, companies also risk legal exposure if they run afoul of hiring and employment regulations in a remote employee’s home country.
To avoid these complications when working with remote contractors, companies can turn to contractor management services, which help to handle compliance, payment and invoicing matters in accordance with local tax and labour laws. To help assess and manage misclassification risk, there are employer of record (EOR) services that allow companies to employ workers legally in other countries, without having to establish local legal entities.
EOR services include human resources and legal functions, such as compliance, taxes, stock options and employee benefits. On paper, the EOR is the employer of the worker, but it does not involve itself in areas of the employee’s work experience apart from those listed.
For companies that wish to convert their international contractors to employees using an EOR, Remote offers EOR services in 69 locations worldwide. Companies can onboard, pay and transition independent contractors to full-time employees – including aspects such as benefits administration, distributing employee stock options and running payroll – using a secure platform. Remote also offers country-specific knowledge and expertise to make searching and hiring the right talent a smoother process.
“Through an EOR, companies can evolve the way they work with international talent and offer competitive local benefits and perks that build loyalty,” said Mr McNamara.
EMPOWERING EMPLOYEES WITH FLEXIBILITY
Nobody likes to be paid late, paid incorrectly or paid in a currency that they do not use.
As a global payroll services provider, Remote assists companies with international payroll management while ensuring compliance with local laws. According to Remote’s own research, 30 per cent of business decision-makers said that compliance with local laws was a key challenge when executing global payroll, even as 66 per cent of companies stated that they were planning to add more remote and flexible work options.
Remote also empowers EOR employees by giving them more flexibility and control over their finances. For example, they can choose to split their salaries across multiple bank accounts, enabling employers to offer new ways for employees to budget their money and build savings with automatic deposits.
With Remote’s expanded payment options for contractors, the latter can choose to receive payments in non-native currencies in over 60 countries globally. This allows digital nomads to be paid directly by their employers in their currency of choice, independent of either party’s location, without having to factor in conversion fees.
GLOBAL MOBILITY, FOR A TRULY GLOBAL WORKFORCE
For many, working from home has become working from anywhere in the world. The process of getting there, however, is often fraught with obstacles.
To tackle these hurdles, Remote’s in-house team offers immigration guidance, pre-employment eligibility checks and other essential support. Its experts will list the best visa options for an employee, offer customised local taxation guidance, keep employees and companies up to date on relevant regulations, and connect them to on-the-ground assistance to help ease the transition to a new location.
Whether an employee is heading back to their home country or is going to a new market to drive their company’s expansion, having relocation assistance can make the move as smooth as possible.
Said Mr McNamara: “Remote enables companies to tap into the best global talent without being bogged down by administrative labour. By handling employment-related tasks such as payroll, benefits and compliance, we allow companies to focus on what they do best – growing their business – while also providing a seamless and hassle-free experience for their international teams.”
Interested in hiring remotely? Head over to remote.com for a consultation.