We’ve reached a defining moment in the future of work. Shifts in business demands, evolving employee expectations and the acceleration of tech innovation have converged, prompting employers to carefully plan strategies to future-proof their business.
Despite macroeconomic challenges, scaling globally is top of mind for business leaders. G-P’s 2024 World at Work report found that 97% of global executives say establishing a market presence in multiple countries is essential for remaining competitive in today’s business landscape.
While a global approach offers significant advantages, it also brings forth unique challenges. Companies need the right guidance and technology to effectively navigate complexities ranging from understanding cultural nuances to ensuring compliance with varying local and global employment laws and regulations, as well as onboarding and managing an everywhere workforce.
The rise of the everywhere workforce
Today’s”everywhere workforce”, where individuals are not tied to a specific location and can work effectively from anywhere in the world, creates opportunities for employers seeking to bridge critical skills gaps while also offering employees the chance to explore new roles outside of their home markets.
In Singapore, more than nine in 10 (92%) employees want to work for a global company. Besides the allure of gaining international experience and the option to work abroad, Singapore employees cite better pay and benefits, enhanced opportunities to acquire new personal skills and the opportunity to work in a culturally diverse workplace as top reasons to pursue global companies.
Almost all (99%) of Singaporean employees believe that companies hiring in multiple countries offer more opportunities for their personal career growth. Global companies can provide exposure to different markets, cultures and business practices, enriching the professional experience of their employees and opening up new career prospects for professionals.
While technology and digitalisation have enabled hybrid and remote work arrangements, location is becoming less important for some jobs. The desire for remote work remains strong, with 23% of Singapore employees preferring fully remote positions within the same country as their company’s headquarters. An additional 15% are open to working remotely from a different country altogether. However, there is also a cohort of Singaporean employees that are increasingly open to moving for their careers – over a third (37%) are contemplating a move to a different region or state, while 33% would pursue opportunities internationally.
Companies that recognise and embrace an ‘everywhere workforce’, offering global talent experiences, will not only appeal to the new generation of job seekers but also position themselves for success in the global marketplace.
Managing the complexities of global employment
While the ‘everywhere workforce’ provides businesses with significant competitive advantages, building and managing global teams can be challenging. For many companies, navigating the complexities of legal, regulatory, and compliance requirements is the biggest hurdle. Labour laws, tax codes, and employment practices vary widely across markets, making it essential for businesses to adapt to each region’s specific regulations.
AI-powered global employment solutions, like an employer of record (EOR), can help business leaders significantly reduce the challenges of building and managing global teams. EORs help companies hire and manage talent anywhere in the world, enabling them to operate in new markets without setting up local subsidiaries. An EOR handles all aspects of employment, including payroll, taxes, benefits, and various HR tasks. Perhaps most crucially, they shoulder the responsibility of ensuring compliance with local labour and employment laws, a task that can be particularly daunting given the vast differences in regulations across countries.
A growing number of leaders are recognising the advantages of partnering with an EOR when hiring employees in new markets. EORs play a crucial role, allowing companies to focus on their strategic goals and core activities, while the administrative challenges of international employment are expertly managed on their behalf.
According to G-P’s findings, only about a quarter (26%) of executives worldwide want to set up their own entities when expanding globally. In addition, cultural differences, time zone disparities and communication barriers can create friction and hinder collaboration. To address these challenges, it is essential to foster an inclusive workplace culture that unites employees under a shared mission and vision across all markets. Providing cross-cultural training and leveraging technology to facilitate seamless communication and collaboration is also helpful.
Enhancing global teams with AI
From hiring to managing global teams and boosting employee effectiveness at work, AI complements and supports human work by making it more efficient and scalable rather than replacing it.
AI can help:
- Hire and manage global talent. AI can help simplify the hiring process from helping find the right talent for specific positions to streamlining onboarding to bring new hires on quickly and compliantly.
- Improve cross-market communication by enabling real-time communication and information sharing. According to G-P’s AI at Work report, 40% of global executives highlighted AI’s 24/7 availability to support customer satisfaction and employee productivity, regardless of time zone. This is particularly important in multinational projects where clear and timely communication is critical to success.
- Boost employee effectiveness at work. G-Ps 2024 World at Work report found that Singapore employees are looking to leverage AI to help automate repetitive tasks (60%), provide stronger and more in-depth analysis (58%), generate written and creative content (51%), and track data to quantify the impact of their work (51%).
G-P’s AI-powered global employment products help HR and business leaders more efficiently manage processes like generating the offer, executing employment agreements, and supporting onboarding and benefits setup. With native AI acting as a co-pilot, hiring teams are guided through onboarding workflows following country-specific regulations and provided with compliant advice and suggestions without ever having to input a question. AI can also help support teams through the employee lifecycle by helping to manage everything from employment changes and benefits updates to helping manage asynchronous work across different time zones.
Unlocking global talent and collaboration through innovation
Hiring across global markets is accelerating. By embracing this shift, companies worldwide can unlock the full potential of their business by tapping into diverse talent pools. AI offers promising solutions to help manage global teams more effectively, bridge cultural barriers, ensure compliance and enhance collaboration and productivity across borders. Now, more than ever, is an exciting time for companies to thrive in today’s interconnected world.
About the author
Laura Maffucci is G-P’s Head of HR, and she leads the company’s global workforce, talent, and employee experience. She operates from a people-first mindset and strongly believes that diversity of thought is paramount for a healthy workspace.