Businesses focussing on a highly engaged global workforce are 21% more profitable. With pandemic bringing in a paradigm shift in the way companies approach recruitment and switching to remote work, going for the global workforce is not only appreciated but needed. Recruiting a global workforce or borderless workforce results in numerous positive outcomes for businesses. This is especially true for tech companies scaling businesses seeking a vast pool of talent, including niche product engineers, software engineers, full-stack engineers, software developers, and of course, product managers.
What is Global Workforce or Borderless Workforce?
Global workforce or borderless workforce in simple terms means that more companies are looking to hire candidates across the globe and encourage employees to have more flexible hours. This also includes remote work, i.e., doing business without borders.
For instance, the software development platform GitLab has 850 employees not just in one location but spread across more than 55 countries.
Why should companies adopt the global workforce or borderless workforce model?
1. Unlock your access to a comprehensive global talent pool.
Your vision for a company can be related to start-ups or small to medium businesses (SMBs) or golden jubilee celebrating enterprises but recruiting skilled talents consistently is vital. Striving for a global workforce lets your company an opportunity to access high-quality talent from every part of the world. Hiring a global workforce not only adds to your company’s diversity but also increases your chance of being recognized in every market. Also, employees from emerging markets will be less expensive than the workforce from Western countries. If you’re a product company, there is no exaggeration in saying having the right product engineers across the world as your talent pipeline adds to your bottom line.
TalaNova comes in handy to solve this challenge for you. We help companies directly reach out to global talent for accelerating business growth.
2. Increase the turnaround time with time zones
When you have employees across the globe from different time zones, the probability of cutting down your turnaround time is high. Imagine a scenario where the product engineer from IST completes his work in the first half of the day and assigns the next task to a developer from PST who completes it and sends it back to the product engineer ready to implement it the next day. This 24-hour operation model in the global workforce helps you reduce the turnaround time. The same can be applied to linguists working in their native countries on work related to translation, helping you with round the clock working.
3. Access to more leadership styles
Recruiting a global workforce provides you an opportunity to enrich the organization with different leadership styles across the globe. Companies looking for product engineers with an actual product mindset must consider investing in a global workforce for unique and best rewarding strategies. Having the right leaders at the end of the day makes all the difference.
4. Creates a diverse and rich borderless workplace
When you recruit a homogenous workforce of employees from the same exposure, it leads to a loss of creativity at times. Hiring a global workforce helps you identify talents with different perspectives from various backgrounds and experiences. Mainly, the blending of ideas and perspectives from diverse culture hiring results in the best possible strategy for creativity and innovation to take your company to new heights.
5. Language and foreign knowledge
If you are into a global business, you require employees who speak the language and know the markets in more depth. Hire someone from the target market will help understand the cultural intricacies and nuances that result in many advantageous business deals. Also, hiring someone who knows the language of your target market can help you avoid unnecessary miscommunication.
6. It cuts down your operational cost.
Hiring a global or borderless workforce eliminates unnecessary operational costs. Especially with borderless working and flexible working hours, all you need is the right talent, communication tool, and database management system. By cutting down unnecessary operational costs, you can invest more in identifying your company's right skills.
Pro tip: When you cut down operational costs, you can invest more in recruiting the right product engineers, software engineers, full-stack engineers, software developers, and of course, product managers, which in turn lowers your attrition rate.
Now you’ve learned the benefits your business will experience when you think of adopting a global workforce to expand internationally. Get your team aligned with your global initiatives, then get started on developing a strategic plan.
Explore working with a talent acquisition partner like TalaNova that provides a niche talent that can help you streamline your process and expand overseas today.