The COVID-19 pandemic caused an unprecedented shift to remote work. Some companies saw this as an opportunity and made it a permanent part of their work culture, investing in remote work infrastructure and creating policies to ensure remote workers feel empowered and productive. Some of these firms include Yelp and Shopify, which recognize the benefits such as less overhead and improved work-life balance for staff.
Some companies reluctantly adopted remote work policies during the pandemic, citing productivity concerns and the lack of ability to track employee performance. Companies such as JP Morgan and Goldman Sachs are mandating employees to come back to offices. However, other companies, such as Apple and Amazon, are trying to find a balanced hybrid approach, combining office work and remote work. This allows employees to work remotely while requiring a minimum number of days in the office.
Three years into the pandemic, business leaders and city governments around the world are still trying to lure employees back into offices and revive local economies. Manhattan workers are spending at least $12 billion less a year due to about 30% fewer days in the office, according to a Bloomberg News analysis using data from Stanford University. While there is still no equilibrium in what the post-pandemic remote policies would look like, there’s growing evidence of the increased willingness of companies to become more open to having a diverse, global workforce and hiring remote workers.
In its State of Global Hiring Report, global payroll company Deel analyzed over 260,000 contracts’ worth of data and showed that 89% of contracts created through Deel in 2022 were for remote workers. Of the four global regions (Asia Pacific (APAC), Latin America (LATAM), Europe, Middle East, Africa (EMEA), and North America (NAM), APAC is hiring at the fastest rate. Australia, Hong Kong, and India are the countries growing the fastest in the region.
While remote roles are common in tech, Deel found a variety of roles getting hired globally. Remote jobs in accounting, therapy, law, and project management are gaining popularity, especially in countries seeking economic growth. Teachers are also becoming more in demand across all regions. Mexico is hiring English teachers from the US, while the US is sourcing educational expertise from places like the Philippines. To learn more about Deel, check out our memo.
Remote, another global payroll provider, surveyed 1,400 executives and hiring managers from organizations across Germany, the Netherlands, France, Sweden, the United Kingdom, and the United States. 65% of hiring managers surveyed in the US, the UK, and Europe are looking to hire globally for tech talent, and 20% say they’re experiencing a tech talent crunch at home; most of the drivers for hiring internationally are entirely strategic.
Contrary Research has also covered a number of HR tech companies that are operating within similar trends, like Carta, Rippling, Pave, Lattice and, Gusto.
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