Building remote development teams is a viable and proven method of growth in the tech industry with an estimated 68% of employees in the industry working remotely. Tech companies that have made the decision to hire remote employees are then left with two questions — how and where.
Established tech companies and tech startups that have made the decision to hire remote employees may find that it can be a challenge to find the right talent at an affordable salary in a limited talent pool. This has made recruiting and hiring tech employees from emerging markets around the globe a viable strategy, and an Employer of Record is a proven method to help see that strategy come to fruition — and Truss provides tech companies with proven global EOR services in Central Asia.
Contact Truss today to learn more about our global hiring platform!
READ MORE: EOR vs Local Entity in Central Asia
Why Hire Remote Tech Employees with a Global EOR in Central Asia?
The benefits of hiring remote tech employees in Central Asia with a global employer of record are two-fold. Tech companies benefit from the untapped potential of a deep talent pool in Central Asia and more affordable employment costs than in the United States and other near-shore hiring markets. And tech companies benefit from the partnership with an EOR, eliminating the risk of compliance errors and making the recruiting and hiring processes more efficient.
Here is a closer look at how building your team with an employer of record in Central Asia:
Why Hire Remote Tech Employees in Central Asia
Central Asia has become a global hiring hub for U.S-based tech startups that has benefited from investment by global tech companies, an emphasis on tech companies and tech careers by local governments, and a talented, hardworking workforce.
5 Reasons to Hire Tech Employees in Central Asia
- Lower Employment Costs: The lower cost of living in Central Asian countries — like Uzbekistan, Kazakhstan, Georgia, Armenia, and more — translates to lower salaries and employment costs for hiring companies. The average annual salaries in these companies fall well short of the $104,000 – $156,000 average salaries in the U.S.
- Deep Talent Pool: Local governments in Central Asia continue to invest in tech industry career fields that benefit their own economies and create a deep talent pool. Key examples of programs that help develop talent include investment in STEM education, the One Million Uzbek Coders program, and much more.
- Higher Retention Rates: With many tech industry jobs available in a competitive market, employee retention can be a challenge for tech startups. Remote employees in Central Asia have a higher retention rate than their counterparts in the United States, and many employees stay up to 13% longer with a company.
- Lower Tax Rates: Tech startups that are searching for elite talent at a lower cost will benefit from lower employee salaries and lower tax rates for global tech companies. Local economic zones, like IT Park Uzbekistan and Astana Hub provide 10% – 15% tax incentives and legal assistance for hiring companies.
- Increased Productivity: The Central Asian countries operate in a different time zone that is 9 – 10 hours ahead of the United States. This time difference can lead to increased productivity for tech companies that implement a follow-the-sun production strategy.
Why Hire Remote Tech Employees with a Global EOR?
With a better understanding of where to hire remote tech employees and why Central Asia is a valuable resource for tech talent, it is important to look at how you can accomplish that goal as a growing tech company. When you look at the potential options for hiring in a foreign country — utilizing independent contractors, establishing a legal entity in that country, using a Professional Employer Organization, or partnering with an Employer of Record — U.S.-based tech companies that partner with a global EOR will benefit from a more efficient, more affordable, and more cost-effective platform.
5 Reasons to Hire Tech Employees with a Global EOR
- Reduced Costs: When you partner with an employer of record, you are working with an established platform and do not need to stress about the setup costs of a legal entity in that country that can range from $1,500 – $15,000 compared to the monthly costs of an EOR.
- Improved Legal Compliance: A global EOR handles the legal element of hiring in a foreign country, protecting you from violating local employment laws, and taking on the legal responsibility of the hiring and management processes.
- Simplified Payroll and Benefits: An experienced employer of record provider will automate many aspects of payroll and employee benefits, including multi-currency payroll for larger remote teams and local benefits packages.
- Reduced Administration: When you choose an employer of record, that partner takes on the administrative burden of onboarding and compliance, allowing tech companies to stay focused on product development and strategy.
- Faster and More Efficient Hiring: When you have to do all the leg work, the hiring and onboarding processes can take weeks or months. With a global EOR service, you can reduce the hiring and onboarding time to days or weeks.
READ MORE: Differences Between an EOR and an AOR
Why Hire Remote Tech Employees with Truss as Your Global EOR
Hiring remote tech employees with Truss as your global EOR allows U.S.-based tech companies to tap into high-caliber talent in emerging markets without the challenges of establishing local entities. By trusting Truss’s experience, knowledge, and established platform, tech companies can navigate complex labor laws, manage international payroll with ease, and onboard new hires in a matter of days. This partnership ensures that your company remains compliant while building a remote team that is ready to hit the ground running.
When you choose Truss, it means finding a partner that has a deep understanding of the advantages that a global EOR service in Central Asia and Eastern Europe can provide. With a dedicated team located in the region, Truss does more than just manage your payroll — we vet and source the top software developers and engineers that will provide your company with an advantage. When you employ Truss as your global EOR, it transforms the challenge of remote hiring into a competitive edge, giving you the infrastructure you need to grow your tech team.
Contact Truss today to find out how we can help you build a successful remote team in Central Asia!
