Here’s Why Every Company Should Ramp up Its Hiring Strategy for Remote Work
A recent McKinsey report reveals that most companies will need to build new digital business models to stay economically viable by 2023. The report also states that organizations need to invest heavily in sourcing talent to remain relevant in the evolving digital landscape. This post dives deeper into the global shift to remote work and underlines why every tech company needs to transform its hiring strategy in a remote-first world.
How has remote work affected the hiring strategy for organizations?
In the last two years, we’ve seen organizations struggling to continue their strategic initiatives and get work done amidst the pandemic. At the same time, businesses across different sectors are undergoing digital disruption, with old business models becoming obsolete.
As organizations grow increasingly comfortable with remote work, many more avenues to attract new waves of talent have opened up.
Engineering leaders, in particular, are looking to bring global top-tier talent to their teams to make the best of remote work.
How do you hire top-tier talent? You build-buy-borrow.
The McKinsey report states that companies are making massive digital and technology investments to meet changing customer demands. Many companies consider technological capabilities and a technologically adept workforce to be strategic differentiators in market competition.
As a result, organizations are embracing the build-buy-borrow method. This method allows them to build a team of full-time employees to work on their core products by buying services and software.
The third step of the method, i.e., borrow, helps organizations tap into global engineering talent and extend their core team to achieve strategic objectives.
Local hiring is like competing within your backyard.
Organizations face several challenges when it comes to hiring in the remote/hybrid work model.
According to the McKinsey report, “Talent poses a perennial challenge to companies that are transforming their business through digital and technology. As organizations plan to fill critical talent gaps in technology, the results suggest that there is no silver bullet to filling skill gaps. Top economic performers report a greater reliance on hiring new employees to fill this gap.”
In other words, companies—unless they are a tech giant like Google or Amazon—spend immense amounts of time and resources on finding good employees.
However, the restraints of local hiring make them compete with many employers, in a limited space, for limited talent.
Remote work and remote hiring equals fewer resources and faster, high-quality results.
The opportunity to hire remotely and look for talent outside the US has proven highly rewarding for organizations that know how to do it well.
A record number of developers in Latin America, Eastern Europe, Northern Africa, and Asia are successfully adopting remote work for US-based companies at cost-effective rates.
Companies can hit a lot of their goals much faster because they’re tapping into this global talent pool in a matter of days and not months.
Most importantly, they are spending fewer resources for hiring and getting extraordinary results.
So can Turing help companies shifting to remote work expand their workforce?
Strategically positioned to help organizations adopt a remote hiring strategy, Turing’s Intelligent Talent Cloud uses AI to source, vet, match and manage 1M+ software developers worldwide.
The deep matching intelligence takes all developers through five hours of rigorous vetting before presenting them to the clients.
Turing’s platform combines a planetary reach and AI to deliver your ideal engineers, billed by the month.
The whole goal is to have clients spend much less time tapping into the global workforce of vetted developers but still achieve a stellar output.
But that’s not all.
Turing also takes care of the complexities of international hiring strategy by taking control of payroll, tax forms compliance, and everything else associated with global hiring.
Companies investing in new digital models can spin their engineering dream team with Turing’s Intelligent Cloud System in days, while conventional hiring models can take weeks or months.
Sign up on Turing to unleash the world’s untapped human potential.
For more information, please contact Pat Kraulis at [email protected].
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