Why you need a partner when hiring globally
Hiring remote tech talent on a global scale can expand your pool of available candidates and help you retain top performers for longer. However, this approach also comes with its own set of challenges, from hiring to managing payroll. In all instances, you may want to consider partnering with a company that specializes in global talent acquisition and management to help you navigate hiring in international waters.
Handling Payroll
The DIY version
Remote trends opened the door to borderless work. You can hire tech talent from all over the world, if you just know where to look. An endless pool of possibilities for technical recruiters and hiring managers, who no longer have to be content. Hiring internationally comes with a few hurdles, organizations will have to commit to a number if not all of the following:
• Foreign legislation, with all research and resources it entails.
• Register with local tax authorities and open local bank accounts.
• Acquire commercial certifications, hire local accountants and attorneys to ensure compliance.
• Managing payroll in different currencies and the challenge of currency fluctuations.
• Create a payroll and benefits scheme that’s in accordance with local laws and business regulations.
• Understanding vacation bonuses, types of leave employees are entitled to, viable termination causes/ notice, non-competes, compensation packages, etc.
The Classic BPO and EOR
Luckily, there are simple solutions available to steer clear of all the complicated legal procedures while still being compliant with local laws, although there are some drawbacks. You can choose to go for a BPO or an EOR.
BPO stands for Business Process Outsourcing. This way, you can hire an external agency to take care of a whole step of the process or an entire project instead of doing it in-house. The issue with BPOs is that you lose control over quality and time management. Both key success factors in a software engineering project.
The alternative is to hire software developers overseas yourself, as full-time remote employees through an EOR. The Employer of Record acts as the legal employer of your hires on your behalf. This partner will take care of payroll, taxes, statutory benefits, and employment contracts. Keep in mind that you will still need to source, vet and interview the candidates yourself.
It’s not just about Payroll
Insider Knowledge
If you're looking to hire full-time software engineers in different countries, it's important to do thorough research and consider the following:
• The local job market and availability of skilled software engineers in these countries.
• How to source local talent, including the right platforms to promote job openings.
• Any potential language barriers or cultural differences that may affect communication and collaboration with your remote team members.
• The cost of living and average salaries in those countries so you can crafting an offer your candidates will love with interesting benefits and PTO.
• Any legal or regulatory issues that may impact your ability to hire employees in those countries.
Finding the right hiring model for you
When deciding on the right hiring model for you, consider one where you can get help on these important aspects of borderless hiring:
• Source and find the right candidates.
• Comb through the noise and vet hundreds of resumes and applications.
• Take care of legal compliance and payroll when hiring in a foreign country.
• Help with the onboarding of new hires.
• Handle remote setup and officing.
• Creating remote hubs (small engineering teams of engineers located in the same area).
• Mentoring and keeping your employees motivated.
Taking the time to carefully evaluate these factors will help you make informed decisions and ensure that your remote team is successful.
