Global-first Business is Here to Stay | Omnipresent’s Co-founder and Co-CEO Matthew Wilson explains why…
We founded Omnipresent in November 2019, months before most of the world was unexpectedly flung into enforced remote work. Omnipresent started as an idea to simplify the process of hiring and paying employees, wherever they find themselves. Guenther Eisinger, Omnipresent Co-founder and Co-CEO, and I had worked with global teams before and found that there were too many complexities when it came to hiring the best people — there needed to be an easier way to do that.
More than two years later, there is increasing acceptance of remote and global-first work — not just as a stop-gap measure brought about by the pandemic, but as a shift in mindset and strategy. Many companies have had to deal with their employees wanting to move to another part of the country, or halfway around the world, to be closer to family or to find a more fulfilling work-life balance. Priorities have shifted and companies now recognise a need to respond with new policies that offer flexibility to their teams if they want to stay competitive. For those companies that understand the importance of being global-first and staying ahead of the competition, we’re here to help.
According to our research, 84% of leaders are planning to work either fully remotely or hybrid in the long term. And, there are more remote jobs than ever before on platforms like LinkedIn and Indeed. Ladders’ data also projects 25% of all professional jobs in North America will be remote by the end of 2022, and remote opportunities will continue to increase through 2023.
The trust in the opportunities offered by remote work was also demonstrated with our recent $120M Series B fundraise announcement. The fundraising round was led by Tencent and Kinnevik who believe the future of work is global, and that businesses need to stay ahead of the curve in order to win. We have no doubt that global-first business is the future!
However, building global teams remains complex and fraught with bureaucracy and regulatory hurdles. When you employ talent in more than one country, your compliance burden grows dramatically. I’ve seen this first hand with previous companies. You have to consider various employment laws, set up multiple payroll systems, and understand the nuances of salary benchmarking and market-aligned benefits in each country. It’s incredibly challenging. This is why we set up our global employment solutions. We equip companies with the tools they need to take advantage of emerging trends that allow them to operate internationally.
We allow companies of all sizes, at all stages to build their global organizations from the beginning. Companies that were unable to be global in the past, are now able to do just that with the help of our SaaS platform and global team with local expertise. Smaller companies need solutions that are a lot more cost-effective, simpler to use, and leverage technology-enabled products. Larger organizations need local expertise and on-the-ground support to help them compete globally.
Being global-first allows companies to access a broader talent pool and increase their diversity — of culture, experience, and thought. Instead of 10 people on a team who all share the same background and lived experience, a fully remote, distributed team reflects the company’s global spread of clients and customers. It allows companies to compete in a globalized environment and access new markets in new and innovative ways.
Being global-first isn’t just good for companies, though, it’s good for employees, too. Even if someone is born in one part of the world, it doesn’t mean they can’t pursue a great career with a company based elsewhere. Having a global workforce allows new economic opportunities in different communities that aren’t traditional work hubs, in more than 160 countries around the world.
Global-first workers can still pursue an impressive global career without the need to move to a capital city. Remote work allows them to earn a competitive salary without having to move away from family, and enjoy the best benefits without compromising on location. In turn, they continue to support their local economies, and businesses can bring new products and ideas to the market.
Ultimately, embracing a global-first mindset enables businesses and individuals to access opportunities that weren’t possible before. Our vision for Omnipresent was to simplify employment across borders and help streamline global-first careers. The global-first mindset is here to stay and allows people to build and innovate internationally. It may not always be easy, but I’ve recognized that when companies recognize the challenges and complexities head-on, they can put the right partners, practices, tools, and systems in place that will allow them to succeed.
Originally published at https://www.siliconroundabout.org.uk.