Across the United States, the tech industry continues to grow and thrive — and few places in the world have embraced the tech industry like New York City. The Big Apple has seen continued growth in the tech industry and in technology-based careers in the last couple decades.
That growth in the tech industry has led to the creation of countless tech-based businesses in New York City — a trend that continues today — and those companies are looking for talented employees to hire. This need to hire has created a challenge for growing companies that need to hire quickly and are faced with a limited talent pool in the New York City metro area. When faced with this challenge, tech companies may want to look elsewhere.
If your company is struggling to hire tech talent in New York City, you may want to try hiring global talent — and Truss can help.
READ MORE: Wage Differences Between Local and Global Talent
The Challenges of Hiring Tech Talent in New York City
The New York City tech industry continues to grow and is home to more than 25,000 tech-based startup companies that produce $189 billion in revenue. With that many tech startups in the New York City area and more setting up shop every day, it is difficult to find qualified talent that can help growing tech companies drive success. The competition for tech talent in New York City is fierce and it is difficult for growing companies to find, attract, and retain top-tier talent.
In addition to high demand in a competitive market, the shallow talent pool means that tech companies may be unable to find employees with the specific knowledge and expertise that meet their specific needs. The tech industry requires skills in a variety of specific mediums and finding the right candidates with the right skills in the right niche can be very difficult — but a larger talent pool provides more options. Tech startups may struggle with the time and money needed to find, recruit, hire, onboard, and manage employees in this competitive environment, which has a negative impact on growth.
What Are the Benefits of Hiring Global Talent?
Tech companies in New York City, faced with a competitive market and a shallow talent pool can combat this challenge by taking a global hiring approach and looking for remote tech talent in different parts of the world. This strategy provides tech companies with an impressive list of benefits.
- Reduced Costs — The tech industry is strong in the United States and that success has led to high salaries for talented employees in the sector. Tech companies that hire global remote talent will find qualified employees with incredible experience and skills with lower salary requirements.
- Larger Talent Pool — Are you struggling to find tech talent that fits your needs in New York City? When you partner with a global hiring company, like Truss, you can expand the talent pool available to you and find employees with skills and expertise that you may not find in the United States.
- Faster Hiring — Are you hoping to hire for your tech company right now? With a global talent pool at your fingertips, you will be able to fill open positions with your company faster, minimize delays, and complete projects at a faster clip.
- Improved Diversity — When you use a global talent pool to hire, you will add diversity to your workforce. The diversity in knowledge, experience, skills, and ideas can help your company become more innovative with global hires.
- Increased Productivity — A global team with remote employees in different time zones across the globe allows you to continue work on projects 24/7, complete projects faster, and deliver faster turnaround times for your clients.
How To Navigate the Complexities of Global Hiring?
We have highlighted the benefits of hiring global talent — but that doesn’t mean there are not challenges. Remaining compliant with local labor laws in foreign countries, managing payroll for global employees, and providing benefits across global borders can be complicated — and Truss can help.
Truss provides Employer of Record (EOR) services for tech companies that hope to hire global talent. As your employer of record, Truss acts as the legal employer of global employees and takes on the responsibility of human resources, payroll, and compliance. Truss will do the heavy lifting and ensure that you remain compliant with the local employment laws, while you put your total focus on the project at hand.
Solution: Truss
Truss provides more than employer of record services. We provide U.S.-based tech companies with a comprehensive platform that will help your company find, recruit, hire, onboard, and manage remote global employees across Central Asia and Eastern Europe. Truss has years of experience with payroll, taxes, benefits, HR tasks, and more in the region to ensure that you are free to focus on your goals.
What is more — we understand the importance of finding the right fit for your company when it comes to culture and communication. We select candidates for your company based not only on their tech skills, but their ability to communicate effectively despite language barriers and collaborate with the rest of your team.
READ MORE: Building a Remote Work Culture: Strategies for Success
Hire Globally with Truss Today
Are you hoping to hire tech talent in New York City? You may want to try hiring global talent instead. With a global hiring strategy, you expand the pool of talent available to you, making it easier to find the right person that is the right fit at the right time. When you add that hiring globally can help you reduce employment costs when compared to here in the United States, it is an incredible option for growing tech companies — and Truss is here to help.
If you are ready to build a global team loaded with tech talent — you have come to the right place. Contact Truss today to learn more about how we can help you hire a global team!
