Top Tech Companies are Building Remote Global Workforces
There is no denying that the year 2020 required companies to take a big shift into the world of remote work. For some, the transition was seamless or even already in place at their company. For others, it was tedious, frustrating, and difficult at times. However, as we continue to grow more and more accustomed to this virtual world of work, many companies have seen great benefit in establishing remote teams. The option to work remotely from anywhere in the world is helping companies find the best talent for the job, increasing their efficiency, and cutting costs while doing so. Still skeptical? Keep reading to see why some of the top tech companies that have benefited from a remote global workforce.
The Top 8 US tech companies currently leading in global remote workforce are as follows:
Apple
Microsoft
Alphabet
Intel
IBM
Facebook
Cisco Systems
Oracle
Each of these companies utilize employees across the globe who are working remotely. Due to the fact that after the COVID-19 pandemic began, 88% of businesses worldwide either encouraged or required employees to work from home, the above industry leaders saw this as an opportunity to continue to grow their global presence through remote work. Research shows that these companies not only grew, but some reached record revenue highs, due to their remote global workforce. Some top tech companies are choosing to remain solely in the US, but eventually could find great benefit in the use of a global remote workforce.
The Benefits
This year alone, 65% of U.S. tech companies plan to either maintain or increase their remote workforce. Why? Increased revenue potential, entry into new markets, diversification, not to mention gaining a competitive advantage.
Increased Profits & Lower Costs
Companies across the globe are learning that they can generate higher profits in more ways than one through a remote global workforce. Businesses save an average of $11,000 USD per employee who works remotely half of the time. Companies also realize that by hiring talent across the globe, they can seek top employees at more affordable rates, giving them the opportunity to increase profits by acquiring more quality talent at lower salary costs.
Diversification & Employee Talents
Hiring international talent can bring many advantages, including advanced language skills and diverse educational backgrounds. In addition, expanding globally also allows companies to employ local workers who have the expertise to communicate and serve clients within those markets without complication. Research done by McKinsey & Company shows that companies who are more diverse see a nearly 35% increase in revenues, compared to those who aren’t geographically dispersed. Having employees across the globe also gives companies the opportunity to acquire specialized talent and gain primary knowledge of which market they may want to expand their business to next.
Competitive Advantage
Top companies are quickly learning that expanding into other markets across the globe is giving them a leg-up on their competitors. By having employees who are employed remotely in various locations, companies can optimize their productivity with work being done 24/7. These companies also have access to skilled talent that others don’t by going global, giving them an even greater advantage against others.
Conclusion
Establishing a global remote workforce has always been a great way to expand, thus explaining why many top companies choose to do so. However, now more than ever businesses are hopping on the bandwagon of remote work and taking their talent pool to the next level with a global workforce. With all the numerous benefits that we have highlighted so far, are you and your company ready to do so as the world continues to move toward remote work?
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