The COVID-19 pandemic has caused a paradigm shift in the daily work life of all employers and employees across the globe. You also must have had your fair share of video and audio calls. You must have invested in getting an ergonomic home office setup, and you might be choosing not to wear business clothes at home. Since you are working from home, you might as well dress in something comfortable and get on with the work.
A research study conducted by PwC has suggested that in the post-COVID-19 era, executives across industries expect approximately 89% of the employees to work remotely at least one day of the week. This data depicts that managing a remote team will become a ‘new normal’. This also goes to suggest that your hiring strategy has to change going forward.
The future is here. The COVID-19 pandemic has caused international borders to blur out and has provided a path of growth for both employers and employees. The talent you pool in for your tech startups or organisations can now come from every corner of the world. Hence, going forward your tech talent of android developers and other software developers can work with you from a corner of the world, and still produce excellent results.
Have you ever wondered why have you not ventured out to >hire talent from across the globe? For many tech startups and organisations, the challenge has been to establish an entity in regions they want to hire from. This has put a dampener on the talent sourcing plans of many. There is an extensive pool of tech talent, including android developers and software engineers among others, which can be the right fit for your organisation but are located remotely.
The Employer of Record (EOR) model resolves this issue efficiently. Today we are in the era of global talent; growth and expansion are not just limited to diversifying your investments or increasing your market share. It has extended towards having a practice in place to hire talent from across the globe which best suits your needs and requirements. The only question now which remains to be answered is: Where do you acquire a rich talent pool from?
One of the major priorities for your organisation can certainly be building a talent pool that will assist you in gaining an edge. And one of the world’s largest concentrations of dynamic and talented individuals is situated in South-East Asia.
As per a research study put forth by the International Monetary Fund (IMF), a majority of the talent pool in South-East Asia is below 30 years, and their lives are driven by technology. South-East Asian countries such as the Philippines, Thailand, and Vietnam have technology incorporated into their lives, from their education to their work. Young generations in these countries have been interacting with their smartphones so much so that they have been given the tag of “the most engaged smartphone internet users in the world”.
Today’s young and dynamic generations know at their fingertips and expect the same kind of flexibility when it comes to their career and workplaces. The World Economic Forum (WEF) recently surveyed 56,000 young people in the region of South-East Asia. This research study suggests that a majority of the people in South-East Asia change their jobs to acquire new skills and have a desire to earn high salaries.
As per the WEF, 31% of the talent in South-East Asia have an entrepreneurial mindset and work for tech startups. Moreover, 33% of the young people from countries such as the Philippines, Vietnam, and Thailand wish to see themselves in an entrepreneurial setting, with a couple of years down the line. Are you ready to harness the power of this extensive pool of talent, and employ it to grow your organisation?
The South-East Asian region has a talent pool spanning over 10 nations, which consists of 12 million students spread across 6,500 higher education institutions. The Philippines alone generates more than 135,000 engineering and information technology graduates every year. The same for Vietnam is around 85,000.
Higher education is extremely important; however, soft-skills play a major role in today’s corporate world. And South-East Asian people are well aware of this fact. As per a research study conducted by the World Economic Forum, the people from this region have given high priority to develop their adaptability, resilience, and emotional intelligence, among others.
Budding tech startups have already begun to tap into this market of the diversified talent pool. In Singapore, more than 150 venture capital funds have risen within the last 4 years. In this short duration, the country has attracted funding of USD 17.69 billion and has fostered unicorns in the startup world such as Grab, GoJek, and Lazada.
Some of the largest firms in the world have taken notice of the highly qualified and emotionally intelligent talent pool in the South-East Asian region. Oracle, Microsoft, and L’Oreal are some of the large companies which have initiated accelerator and incubator programs in Singapore. The IT giant, Hewlett Packard has recently announced the setting up of 20 technology hubs in the region of South-East Asia, by the closing of 2020. The company has taken this step to provide opportunities to deserving individuals.
At this juncture, you might find yourself wondering how can your organisation gain access to this vast pool of talent? By now you must be well aware that setting up an entity is a tedious and expensive process, which eventually might not even be fruitful. While you require access to the bustling market of talent, at the same time you want to avoid unnecessary logistics and expenses. An appropriate Employer of Record (EOR) helps you achieve this seamlessly.
If you avail of the competitive advantage provided by the Employer of Record, you will never have to decline from top talent that is not able to relocate. With EOR, your organisation can hire talent across geographies and at the same time avoid the hassle of understanding payroll issues, currency exchanges, benefits, taxes, and corporate laws, among others.
You can seamlessly hire talent with an EOR, from tech startups in South-East Asian countries such as the Philippines, Vietnam, and Thailand among others. An EOR provides you with industry experts who take the burden of hiring and onboarding off your plate. These include setting up of the employee’s benefits, taking care of income tax issues, producing expense reports, and simplifying the payroll process, among others. Hence, you can easily procure top tech talents such as android developers, software engineers, and others for your organisation.
An Employer of Record significantly ramps up the speed of your time to market, irrespective of the region you are considering to work in. With the burden of onboarding top talent from across the globe off your plate, you can now focus on imbibing a culture that retains and attracts top talent, in your organisation.
Are you geared up to tap into these vast pools of talent, and find the best people to work for your organisation? Then start your journey today, by availing of the benefits and advantages offered by EOR. Expand your horizons with EOR and help your organisation scale new heights of success.