Comp Essentials: Is Your HR Team Equipped to Hire Internationally?

There’s no doubt that the pandemic and shift to remote work has reshaped the way companies are hiring, and international hiring is no exception. In fact, prior to the pandemic, only 12% of employers were willing to hire fully remote workers anywhere in the US or internationally. Fast forward a few years later, and that number has tripled to 36%. 

Making sure your team is equipped with the right tools to hire international candidates and maintain compliance while doing so will be key as the competition for talent persists across the globe. Keep reading for the questions your team should be considering to take your international hiring strategy to the next level. 

Why are more teams hiring internationally? 

Remote work isn’t going away anytime soon. With the option to hire employees from anywhere, companies can access broader pools of talent and have even more options of qualified candidates to choose from. Plus, both employees and companies can benefit from remote work opportunities from productivity and retention standpoints. Findings show that 77% of remote workers said they’re more productive when working from home, and 74% agreed that having the option to work remotely would make them less likely to leave a company. 

Essentially, remote teams have an added advantage by tackling two sides of the same coin – attracting more candidates through remote work, and retaining them for longer as well. 

Can we make job offers in multiple currencies? 

If your company is open to hiring remote international employees, it’s crucial that you’re able to make job offers in the currencies local to candidates. Fortunately, with the help of seamless compensation management software, your team can create offers in a variety of global currencies to give candidates the option to view their offers in USD or their local currency.

This can help international candidates better understand their total compensation and streamline the hiring process by making hiring workflows more efficient. Plus, you can even customize and reuse templates based on currency types, manage and display exchange rates, and present them to candidates.

Are we able to maintain compliance when we hire internationally? 

Upholding security compliance is a crucial component of ensuring your international hiring process is up to par. For candidates in the EU and UK, maintaining GDPR compliance will be essential to making secure offers. In a nutshell, the GDPR (General Data Protection Regulation) upholds the highest privacy and security standards pertaining to data collection for all EU and UK citizens. 

Additionally, your team will want to ensure that it maintains SOC2 Type 2 compliance. SOC2 is a voluntary compliance standard for service organizations aimed at specifying how organizations should manage their customer data. 

Why is this important? Not only is it crucial to follow the security standards no matter where candidates are located, but it can also give your team the ability to make faster hiring decisions and put international candidates at ease with the knowledge that their data is being used safely and securely. 

Can we properly convey our company’s culture to international candidates? 

Company culture is a key differentiator for candidates, so much so that 88% of job seekers say a healthy culture at work is vital for success. While remote work comes with plenty of upsides, it can be harder for remote companies to communicate a strong company culture to candidates when they can’t meet in person or tour an office space. 

By the time a candidate reaches the offer stage, reminding them of why they should choose your company and what makes your company unique can be the deciding factor in whether or not they accept or choose a competing offer instead. Fortunately, there are digital offer tools available to personalize the job offer process in a way that highlights your company’s unique mission, vision, and values so your company can stand out to candidates no matter where they’re located. 

How can we improve our job offer process? 

Manual hiring processes can contribute to your team losing valuable time, money, and ultimately – coveted top talent. With the help of the right HR software, you and your HR team can be armed with the best tools to save time, make better compensation decisions, and secure more candidates throughout the job offer process. 

In fact, by using Welcome’s Digital Offers, our customers save an average of $17k per candidate and enjoy 13% higher offer acceptance rates. Hear what they have to say by checking out our recent case study, or get a firsthand peek by booking a demo

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