3 Global Workforce Strategies To Boost Your Business

Chief Executive Officer

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Geographic borders no longer limit businesses. Technology has shifted how businesses operate — internally and externally — while opening companies up to a broader array of customers and a more diverse employee base.

 

With a global workforce, the advantages in terms of access are apparent. An international presence helps companies establish roots in unfamiliar territory and reach more skilled global workers. A worldwide roster of employees also allows businesses to cut costs and get creative with their staffing options with contingent, freelance and remote workers without setting up an office in a new city or hiring more employees to handle an influx of talent.

 

Plus, a global team of workers who speak different languages and come from diverse professional and personal backgrounds offers other advantages. These workers bring various perspectives to the table and can help spark new approaches and solutions. A Harvard Business Review study found that companies with above-average diversity have innovation revenues 19 percentage points higher than their competitors — and EBIT margins that were 9 percentage points higher, on average.

 

While the benefits of a diverse employee group might seem clear, the reality of the Covid-19 pandemic is creating some challenges (e.g., work visa and travel issues) for companies eager to engage a global workforce. Here are some practical measures to help you bring together a team of international workers that can bolster your bottom line:

 

1. Think aptitude instead of location. Traditionally, a candidate’s résumé, experience, education, and, yes, location get put under the microscope by hiring managers. Still, none of those factors — including geographic locale — point to how well someone will perform various job responsibilities.

 

Widen your recruitment net to look at skills instead of an applicant’s proximity to your company. A survey by researchers at Northwestern University found that 23% of companies have prioritized skills-based hiring, while 39% are actively exploring the option. Find talented people and hire them regardless of their location. Whether it’s through your HR department or an EOR partner, this hiring approach opens doors and positions your business as one willing to build a dynamic global workforce.

 

2. Explore outsourcing locally. Are you coming up against hurdles in hiring global workers due to travel restrictions? Try outsourcing. According to a SuperStaff study, 78% of businesses feel good about their outsourcing partnerships. To capitalize on the wealth of available contingent, remote, and freelance workers, consider every local outsourcing option available.

 

See which outsourcing options might help you engage talent in their home countries. Outsourcing the entire process through an employer of record allows your business to engage the global workers you need quickly and legally, even with travel restrictions in place. An EOR provides insights on regional mandates and employment laws so you can onboard members of your global workforce without complication.

 

By engaging those workers in their home communities, you can bypass any barriers keeping you from adding to your roster of international workers.

 

3. Embrace working with freelancers. An Upwork study found that freelancers will likely account for most of the workforce by 2027. The Covid-19 pandemic likely jump-started this trend with a sudden uptick in remote work, which means now is a great time to explore freelance workflows.

 

Freelance workers are flexible, progress-driven partners who can adapt and produce for faraway companies at a moment’s notice. Build a reliable international stable of freelancers to maximize your company’s presence and potential bottom line.

 

City limits, states, and borders no longer define the reach of businesses. Expand your global workforce to realize the untapped potential of what your company can do on a worldwide scale.

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