Global hiring is a solution to the US war for talent. In the past, high costs & complex legal issues restricted international hiring to a handful of companies but advances in fintech & remote work give access to the global talent pool.
The Great (American) Resignation is no joke: 4.4 million people in the US quit their jobs in September. 4.2 in October. 4.5 in November. US employers currently struggle with 11 million unfilled jobs, high employee turnover, and discerning candidates.
Meanwhile, hiring outside the US is skyrocketing. Deel’s latest survey shows that hiring from Latin America grew 286% between July and December 2021. In other regions, the numbers are nearly as impressive: 250% more hires out of Europe, the Middle East, and Africa, 227% in Asia Pacific, and 208% in North America.
​International hiring is a solution to the US war for talent. In the past, high costs and complex legal issues restricted international hiring to a handful of companies in select industries. But advances in fintech and employment services–plus the normalization of remote work–give all companies unprecedented access to the global talent pool:
EORs like Deel handle legal compliance for a more affordable, less risky way to hire globally.
Why international hiring wins
Access to the global talent pool.
Talented, passionate people live all around the world. Legal borders and on-premise work no longer limit your search for the perfect candidate.
No sponsorship and tax issues from immigration.
Remote work lets people work from their homes and eliminates the complicated paperwork and visas that come with employee relocation.
Reduced costs on real estate.
Embracing virtual work means reduced rent, utilities, and equipment costs. A company that allows its employees to work at least half of the time remotely can save up to $11,000 annually per employee.
Genuine, worldwide diversity.
Companies that nurture diversity are more profitable than those that aren’t diverse. Bringing together talent from all over the world means fresh perspectives and a wide range of skills. It also helps you serve a more diverse customer base and break into foreign markets, languages, and time zones.
How do you stand out in the global talent market?
Offer location-independent salaries.
Hiring from countries where living costs are lower than average may be affordable for your company, but it can verge into exploitation. Salaries determined by position and seniority (rather than location) attract top performers, not just low earners.
Put together a healthy benefits and perks package.
Employee compensation is much more than the salary. Perks like flexible working hours, wellness budgets, and a work-from-home stipend go a long way to attract and hang onto employees worldwide.
Focus on people management and company culture.
Remote and distributed teams require just as much care as in-office teams. Prioritize developing a culture of praise, trust, and transparency, or the great talent you discover won’t stay around for long.
Deel makes international hiring simple and affordable
Deel’s mission is to make global hiring easy. People should be able to work from anywhere, and companies should be able to hire talent anywhere around the globe–effortlessly, cost-effectively, and without worrying about compliance.
Our clients use Deel to focus on growth:
- Veriff skipped the daunting and expensive process of setting up a legal entity in a new location to double the size of its team
- Turing hired 500+ contractors in 60+ countries: Deel helped them create locally compliant contracts without having to learn individual employment laws for each country
- Esports Entertainment Group solved an acquisition nightmare when they acquired two companies and needed to absorb 30+ contractors in multiple countries
Ready to hire top talent outside your country? Deel unlocks a world of possibilities.
References:
1. 4.4 million people in the US quit their jobs in September. Source: The Washington Post
https://www.washingtonpost.com/business/2021/11/12/job-quit-september-openings/
2. Record 4.5 Million Workers Quit in November. Source: SHRM
https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/record-millions-workers-quit-2021-bls-great-resignation.aspx#:~:text=Through%20November%202021%2C%20an%20average,2019%20average%20of%203.5%20million
3. Job Openings and Labor Turnover Summary. Source: US Bureau of labor statics
https://www.bls.gov/news.release/jolts.nr0.htm
4. Save up to $11,000 annually per employee. Source: Global Workplace Analytics
https://globalworkplaceanalytics.com/work-at-home-after-covid-19-our-forecast
5. The numbers don’t lie: Diverse workforces make businesses more money. Source: Market Watch
https://www.marketwatch.com/story/the-numbers-dont-lie-diverse-workforces-make-companies-more-money-2020-07-30
About the Author:
​Alex Bouaziz is the co-founder and CEO of Deel, the fastest-growing global compliance and payroll solution that helps businesses hire anyone, anywhere. Alex grew up in Paris and graduated from Technion and then MIT with a Masters in Civil and Environmental Engineering. Prior to Deel he co-founded investment fund Sarona Ventures. In 2020 he was featured on Forbes’ 30 Under 30 Finance list. Outside of Deel, Alex enjoys cheering on Paris Saint-Germain Football Club.
About Deel:
Deel has everything you need to compliantly hire, pay, and manage contractors and employees in 150+ countries. Think onboarding, contracts, expense management, payroll, and built-in compliance for your international team.
Leave compliance to us
Our network of 200+ local expert partners ensures that your entire hiring process complies with the regional laws and tax rules to enable your team to work from wherever they live.
Generate contracts quickly
Set up international new hires to work compliantly in minutes. With Deel, create a custom contract that’s compliant with local laws, send it to the candidate to sign, and they’ll get onboarded almost instantly.
Mass payments
Pay your entire team each month with one bulk payment, and we’ll make sure they get paid right on time, in their preferred payment method. Teams even get the freedom to decide how they withdraw their funds.
An exceptional team experience
Give your team the freedom to move, live, and work anywhere without any worry. Deel offers 24/7 support in 12 languages to ensure your team has around-the-clock help.
Today, Deel serves more than 6,000 customers from SMBs to publicly traded companies like The Binance, Notion, Sezzle, Andela, and more. We’re the real Deel.
