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Most articles about remote work talk about the benefits of a remote setup for employees, but Joe Stych of Zapier points out that a remote setup is also great for employers. According to Joe, hiring remotely can save business owners money.
“For a lot of businesses, offering a telecommuting option makes sense strictly from a financial perspective,” says Joe. He then elaborates how hiring outside your city and giving your hires the option to telecommute can cushion you from the impact of location-specific expenses, such as real estate and salaries.
With the costs of running a startup steadily rising, saving money is imperative for owners of growing businesses. Joe’s on the money about looking outside your city for good talent and considering a remote setup. Although Joe’s talking about onshore remote hiring, we think that these also apply to offshore remote staffing.
In fact, with offshore remote hiring, we think the savings you can get are particularly significant. These are the ways offshore hiring can help your growing businesses cut costs.
Save on real estate costs
Office space can be affordable, depending on where you’re looking. “San Francisco office rents will climb to $69.71 a square foot by the end of next year,” according to Colin Yasukochi, CBRE’s research and analytics director, in an interview last year. “Manhattan rents will grow at about a third of that rate, rising 6.5 percent to $69.68.”
Calculate how many square feet you need for a desk, a chair, and some wiggle room. In San Francisco or Manhattan, that’s some costly floor space to seat one person. Imagine if you have to seat a whole team.
There’s absolutely no shame in running an office from your garage, but a more professional environment is feasible if you leverage affordable office space in other countries.
Save on salaries
Other countries have more affordable job markets and offer a great solution to the global talent shortage. Yes, you’ll hear horror stories of overseas employees not delivering (we hear them, too), but that doesn’t make offshore hiring entirely bad. It's all about working with, and in some cases, building, the right remote team.
One of our customers, for example, used to have both local and remote employees in their development team. After seeing great quality work and reasonable rates with a remote team, our client eventually moved their entire offshore team with Bolton Remote.
There’s plenty of great talent out there, and with proper management, you can leverage this talent while keeping control of your competencies, without breaking the bank.
Save on employee absences
One advantage of managing an offshore remote team is that you can encourage asynchronous work. According to Google’s Vivek Haldar on the advantages of asynchronous work, “if one is blocked on input from someone else (for example, if you are waiting for someone to review a document, or comment on your code), another thread can be picked up to make forward progress.”
If you have an offshore support team for your on-site staff, asynchronous work allows you to worry less about employee absences. Tasks are less likely to drop, even when someone on-site takes a break, if you have a remote offshore team that can pick up the slack and continue your absent on-site employee’s duties while accomplishing their daily work routines.
Save on hiring and onboarding costs
Remote on-boarding and training can be more affordable and can save you time, especially if you have your well-documented processes in place. A handful of available tools allow for smooth communication that make training easier.
Sqwiggle, for example, allows you to instantly talk to your team via video chat. Without having to schedule videoconferences for a quick message, you can train your staff while keeping workflow smooth. “Sqwiggle is incredibly useful and has improved our team's workflow massively,” Joel Gascoigne of Buffer attests.
With an offshore remote team operating in different time zones, you also have the option to train asynchronously. For asynchronous training, Snagit is a good resource. You can create videos of your screen as you demonstrate step by step how you want certain tasks done. And with Snagit’s Cloud integrations, your team can watch these videos even while you’re away.
In what other ways do you see offshore remote setups helping startups save money? Share them with us! Leave a comment or contact us at Info@BoltonRemote.com.
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