1. A global workforce is where a company has a team of people that are based around the globe. Having a global workforce allows companies to hire from an international talent pool, rather than being restricted to any one location.
2. There are many advantages to having a global workforce. Principally, it allows companies to find the best people, and means they can benefit from a diverse and multicultural team.
3. There are also challenges involved with having an international team located all around the world: It can be difficult to manage people in different time zones, and can be hard to keep everyone engaged and productive whilst working remotely. This means that companies have to find innovative ways of keeping staff happy.
4. Another challenge is understanding the legal compliance and employment regulations of each individual country in which employees are based. A good solution to this is to hire a Global PEO who can employ individuals on your behalf, meaning you do not have to consider payroll, taxes, and other HR requirements for each jurisdiction.
According to a recent 2022 survey conducted by PWC, it was found that 26% of people prefer to work fully remotely, 23% want a mix between remote and some in-person working and 25% would like an equal split between remote and in-person working (you can see the differences in remote working arrangements here). Just 11% said that they would be happy to work full time in-person. It is clear that there has been a shift in the way in which people choose to work: People want remote work, and being hired by a global company is often the best way to achieve this.
Here we explain what a global workforce is, why it is desirable for both companies and employees, and how to mitigate the challenges of an international team through a global PEO — the most popular global workforce solution.
What is the definition of a global workforce?
In short, a global workforce is a team of employees that are based all over the world. The team is able to work remotely for the same company and be connected through virtual software such as Teams, Zoom or emails. A global workforce will be made up of international employees of different nationalities, backgrounds and cultures.
What are the advantages of a global workforce?
What are the challenges in hiring a global workforce?
How a global PEO helps with global workforce challenges
A global professional employer organization (global PEO) is a third-party company that recruits international employees for ambitious businesses. The PEO handles payroll, contracts and tax requirements, and takes over HR responsibilities ensuring full compliance.
A global PEO has the experience, connections and expertise to ensure your global workforce is onboarded quickly and in full compliance with local laws.
Onboard your global workforce with Horizons
At Horizons, we take on the burden of recruitment, payroll and tax compliance for your global workforce. This means a fast, and cost-efficient international expansion of your team.
If you need our assistance with hiring a global workforce, please do not hesitate to contact us today.
Frequently Asked Questions (FAQ)
There are many advantages to having a global workforce, the biggest advantage being that it allows companies to expand and grow more quickly, with the help of talented individuals from around the world. Having a global team means there are no geographical boundaries in terms of who you can recruit.
In addition, customer care can be improved by extending working hours as staff are operating in different time zones.
Managing a global workforce can be difficult as you have to consider different languages, cultures, local labor laws and time zones. There are different strategies that you can adopt, but ultimately, it is important to stay connected with staff by having regular check-ins and frequent communication. Team building is also vital in order to keep employees engaged, motivated and productive.