- How can a remote team help you to build your business?
Business expansion and growth has many facets. As we’ve seen before, there are 5 major means of international business expansion. But before you put your cart ahead of the horses, why not take a moment to look at the most basic yet most valuable resources available to you? We’re talking about human resources, more specifically remote teams, as a launchpad to take your business to the next level.
So, how can a remote team help you build your business? Let’s take a look at 5 major benefits of a remote team.
Towards the end of this blog, we are also sharing the best way you can acquire and grow your remote teams so stick around for actionable steps to grow your business.
- 4 Ways A Remote Team Can Grow Your Business
- Remote Teams are cost-effective
If you compare the cost of paying salaries for the top talent, a foreign business would have to bear considerable costs for the brightest engineers (for example) in India than the same level of talent in their home country (say, USA). This is because wage rates vary. Also, there are more engineers being churned out by potent universities in India than there are jobs for engineers. This imbalance drives down the salary rates.
Combine that with the substantially lower costs of recruiting talent in India than in western countries, you save considerable costs on remote teams.
- Offshore teams boost your availability
If you hire resources in India, you can take advantage of the time zone differences to improve your business availability. While your local team can handle daytime operations, your team in India would handle the night shift (of course, it would be daytime for them).
You can see how this works out neatly and allows you to better position your 24X7 availability.
You can also improve other specific goals too by hiring remote teams for specific departments. Examples include an hr service, finance or accounting, which saves costs on building the expertise in-house.
- Wider pool to choose from
The quality of talent emerging from universities is only improving. Offshoring allows you to dip into non-local quality talent pools. These resources bring with them unique insights and capabilities. And while they may have strong opinions and expertise, they still will not disturb the existing ecosystem as the management stays centralised and on track with pre-decided goals.
It also remains the management’s outlook whether to go with the resources picked by recruitment partners like PEO agencies, head-hunters etc.
- Flexibility of task allocation
The ability to assign tasks dynamically is much more advantageous to outsourcing where the scope is so rigid that every little adjustment comes with a cost attached. With a remote team, you can double down on building your business by looking smartly at resource allocation at no cost adjustment w.r.t the salaries.
- Building your remote team
So how do you go about building your remote team? There are numerous options for you. There’s PEO, outsourcing, and contracting.
While each of them have their own strengths, an overall comparison shows that PEO services come out ahead. Here are resources to make up your mind:
In a nutshell, a professional employer organization is an establishment which becomes the legal employer of your resources in India / target location. As you cannot legally hire employees in India without an entity setup, a PEO agency in India steps up and becomes the on-record employer for your resources.
Don’t worry, these employees still work for you. The PEO simply steps in as a legal employer who looks after employment responsibilities like paperwork processing, employee compliance, employee benefits, and employment tax.
If you need the right information about a professional employer organization in India, connect with us with your queries and we shall help you out to the best of our capabilities.