Running a startup in today’s world means taking advantage of every opportunity available to you. That's why embracing remote workers can be the difference between a thriving startup and one that struggles to stay afloat. According to Harvard Business Review, companies that offer remote work are 50% less likely to experience turnover.
However, there are many risks associated with hiring remotely that are often not discussed or considered when making the decision to build a remote team.
Today, we'll explore the tips for making it worthwhile and how to balance risk and reward when hiring remotely and find out what it takes to make the most of remote opportunities to reap major benefits for your startup.
Assessment time: The Risks and Benefits
Let's start with the basics...If your startup is dipping its toe into the remote work pool, you may think, “Yikes! What have I gotten myself into?”. Don't worry — it's only natural to feel a little overwhelmed when faced with the unknown.
But don't let that stop you from achieving success; if your goals and objectives for taking on remote workers are properly defined, then the risk you take will be worth the reward.
Let's understand some of the potential risks associated with remote work:
• Communication overload – Working with a distributed team can lead to communication overload due to the sheer volume of messages coming from different channels.
• Differing work ethics – Different cultures may have different work ethics, and this can be a challenge if you don't have the same standards for remote workers.
• Uneven workloads – Working with a distributed team also means that some tasks may not be completed on time due to different time zones or language barriers.
These are just some things to keep in mind ...are you still with me?
What's Right for Your Startup?
TL;DR: It is essential for startups to be able to recognize when the risk is worth taking in order to stay competitive in their market.
Running a startup can be downright intimidating — especially when it comes to embracing remote work. At this point, you may be asking yourself, “Can my business really handle this?”
The answer is YES! With the right strategy and team in place, you can make remote working a reality.
But first, let's take a step back and ask yourself: Is this type of setup really right for my company’s culture and current goals?
Here are some questions to consider before deciding on a remote work setup:
- Is the current company culture conducive to remote work?
- Are there any tasks that would be difficult or impossible to do with a remote setup?
- Does everyone have access to the tools and resources they need?
- What communication channels should be put in place?
- How can progress and accomplishments be tracked and reported?
When it comes to making a decision about hiring remotely, there are no hard-and-fast rules — sometimes the pros outweigh the cons and sometimes the opposite is true.
By examining your needs carefully and doing research on what others have done successfully, you'll be able to determine if taking on remote workers is the best fit for your business.
Understanding Legal Requirements & Limitations
Now that you have determined remote hiring is the way to go for your startup moving forward, it's time we talk about the elephant in the room...legality.
It's essential to know the legal requirements and limitations when hiring remote workers. You must ensure that your organization complies with local, state, and federal laws.
Yes, I know it sounds like a headache...
But when there is a will, there's a way! This is where Ontop comes in.
We make it easy to hire remote workers by taking care of all the legal complexities. Take Hunty, for example, a platform that is changing how people find jobs in Latin America.
They knew it was time to grow and decided to transition to hiring remotely. They had some initial concerns and met with complex bureaucracy when trying to hire in Mexico.
But after getting in touch with us, they started hiring all over LATAM at a lightning fast speed. They've been able to see an overall increase in productivity while maintaining current quality standards.
Bottom line: Legal requirements can seem difficult to navigate, but they don’t have to be.
With Ontop on your side, you can streamline remote hiring processes and manage the legal side with ease — so you can concentrate on growing your business without having to worry about all the details.
Developing a Resourceful Pool of Talent
Speaking of streamlining remote hiring, it goes without saying that thinking outside of the box pays off – that’s why having a resourceful pool of talent is so important in today's business world.Not only will you beat out your competition, but you'll also have access to a diverse set of skills and perspectives that can help drive innovation.
To diversify your pool of talent, remember to look beyond traditional job boards, such as LinkedIn and Indeed. Instead, consider using specialized recruiting platforms that cater to specific niches or have a track record of successful international hires.By leveraging the power of digital hiring platforms, you can access global talent quickly and cost-effectively — no matter where your company is located.
Setting Up a Smart Hiring System
Last but not least, you have to consider implementing an effective hiring system. This will help ensure that you make the right hiring decisions while still being mindful of budget, compliance and payroll constraints.Without the right framework and processes, it can be difficult to find qualified remote candidates and successfully manage the recruitment process from a distance.
By investing in resources like applicant tracking systems or assessment tools, founders can ensure that their recruiting process follows best practices while simultaneously reducing time-to-hire.Ontop offers a comprehensive solution to help founders hire remote talent in minutes.
Our modern platform gives you the tools you need to start building an amazing team of world-class remote talent quickly and efficiently – because, with a smart hiring system in place, you'll be ready to onboard superstars in no time! Book your free demo today.