Environmental, Social and Governance (ESG) metrics are increasingly important to today’s modern businesses. New research by Remote highlights how recruitment could benefit these ESG scores.
A global survey of 1485 hiring decision-makers (251 of which are based in the UK) to analyse the state of the global tech talent market. The Remote Tech Talent report explores the positive impact hiring remotely can have in emerging markets.
According to the study, nearly two-thirds of the UK hiring managers considering global recruitment (69%) say giving people the opportunity to build a career without having to move to another country was a benefit. Meanwhile, nearly over half of the UK correspondents (60%) said enabling communities to grow through maintaining local talent was a positive outcome. Lastly, two thirds (66%) recognised that remote hiring in the UK could increase diversity within their workforce.
A third of employers are missing an opportunity
These outcomes of remote hiring align with several of the UN’s Sustainable Development Goals, including promoting sustained, inclusive, and sustainable economic growth as well as reducing inequality within and among countries (Goal 10). Research also shows that greater diversity within teams and workforces correlates with better financial performance.
But despite this opportunity, more than a third of UK respondents (34%) are only hiring remote workers within their domestic market. This not only narrows their pool of available talent and limits their ability to diversify, but it also restricts large parts of the globe from access to opportunities for their career and development.
And among those UK managers who are considering hiring globally, just 11% are looking for new talent in Asia, 5% in the Middle East, and 4% in Africa.
Barriers to entry
What else is holding businesses back from hiring workers around the world? Remote’s report also highlights the barriers facing companies who wish to recruit remote workers, including logistical, legal, and cultural challenges they must overcome during the hiring and onboarding process.
According to the responses from UK managers looking to find workers globally, the greatest challenges to hiring talent in new regions are: learning about legal requirements (51%); having to work across multiple time zone (48%); and overcoming language barriers (46%).
Overcoming these various barriers to global hiring can be daunting. However, some of the more commonly cited issues, such as managing payroll and learning about local legal and regulatory requirements in a new region, can be solved by working with a reputable Employer of Record service provider who can ensure full local compliance.
Surey from Remote*
