Globalization can make or break your business, allowing you to expand your markets and driving the standards of products and services in demand. Globalization means competition. The best way to keep up? Leverage global talent and world-class remote teams to boost quality, innovation and collaboration, and ensuring best practices while you do.
However, the first stop on your global journey is to understand what globalization is and what globalization means in terms of business.
What is globalization? What are some globalization examples?
Globalization is the ongoing drive toward international interdependence in all arenas: uniting the globe into a single social, cultural and business unit for the flow of people, politics, standards, communication, ideas, goods and services, technology, finance, trade, investment, labour and more.
Some globalization examples include:
- Travel and tourism - the abundance of affordable travel and tourism packages.
- Globalized food and product supply chains - for example, raw cocoa might be harvested on the Ivory Coast. The cocoa is processed into chocolate in China and then sold around the world.
- Social globalization - comes in the form of popular media, movies and music, as well as social media like Twitter and Facebook. The list goes on and on.
- Remote work - the current trend toward online, remote work and outsourcing to experts around the world, representing the globalization of services, information, expertise and economy.
Today, we want to focus on globalization as it relates to remote work, and how you can use it to find and hire the best people anywhere. But first, let’s add some context to the conversation and talk about what globalization means on a broader scale.
Globalization history and context: understanding where you stand
When did globalization begin? One of the earliest, well-known examples of globalization is the legendary silk road that started in 119 BC. It stretched in increments from far Xi’an in China all the way to Rome by 220 AD. It helped diversify parts of early civilization through the exchange of goods and services, culture and ideas.
The progress of globalization was achingly slow, with a relative boom in the 1400s thanks to the exploratory trade hunts of Christopher Columbus and Vasco Da Gama. Then, there was an even bigger boom with the advent of steam engines and the industrial revolution of the 1700s-1800s. In 2022 and beyond, however, the pace of globalization is unprecedented.
The advent of the internet and a boundless global economy
True globalization is a hallmark of the 21st century. Two key factors fuel its unprecedented voracity: widespread support through international policy changes and trade agreements, and the streamlining and accessibility of information and communications technology (i.e., the internet!).
Globalization is an inevitable trend in civilization and business. Today, we’re at a precipice. Your business will either meet the requirements of a global market, or you’ll be engulfed by the relentless quality and market demands on a global competitive stage.
The easiest way to meet these demands? By taking advantage of the global talent pool.
The pros of globalization in business - and the cons: globalization is a two-sided coin
Globalization gives all companies, SMBs and individuals (in both established and developing nations) access to the global talent pool. Global Recruitment means you can hire experts and highly skilled workers from around the world without the cost, time and extra admin on your part.
Thanks to the rise of globalization, companies can go outside their borders to recruit staff. Often, this allows organizations to save money and solve skill shortages with relative ease. However, there’s more than just a budgetary benefit to hiring outside employees.
Globalization and the rise of remote work give you access to international workers from every walk of life, allowing you to open your virtual doors to real diversity. With greater diversity comes more innovation, collaboration and opportunity for your enterprise.
However, taking advantage of globalization and hiring people from other countries isn’t easy. In fact, many compliance and administrative hurdles make it difficult to hire and maintain a global staff.
Generally, companies have to set up local entities wherever they want to hire employees, which is incredibly costly and time-consuming. Alternatively, they can use outsourcing companies, but that’s often expensive, and there’s a real lack of transparency and security in the outsourcing industry.
This disadvantage has dissuaded many companies from taking advantage of the incredible benefits of hiring global talent.
Thankfully, there are some solutions that enable companies to overcome these hurdles.
What is global talent? (And why you should be leveraging it)
So, to sum up, global talent simply refers to all the employees from around the world. When you pull talent from the global market and global talent pool, you open your company up to amazing possibilities.
Today, communications technology and remote work allow you to outsource remote teams and workers from the comfort of your desk, eliminating the property, onboarding and facilitation costs generally associated with recruiting in-house talent.
For employees, working for a global team means they can move wherever they’d like without being tied down to an office. Today’s top employees crave this sort of freedom, so when you offer this benefit, you’ll have an easier time attracting and retaining top talent.
Plus, when you use solutions like Outstaffer's Employer of Record (EOR) service, you can easily recruit, hire and employ global talent without having to start a local entity or rely on an outsourcing company.
Globalization’s progressive, runaway nature can mean big things for your business. However, your success will depend on your willingness to globalize your talent. Global recruitment keeps you on budget and helps ensure your ideas, goods and services are no less than the global standard.
Whether you aim to supplement your teams with a few specialists from the global talent pool or build a remote team from the ground up to collaborate and innovate in Virtual Reality Workplaces, the benefit is yours.
To engage a global market and get ahead of stiff international competition, you need to recruit, onboard and maintain a diverse spread of world-class expertise and collaborative remote teams. However, global recruitment and employment can be challenging, because you have to deal with things like sourcing, screening, compliance, taxes and more.
This is where we come in. At Oustaffer.com, we make it simple to find and hire international talent. With our global HR Infrastructure, EOR Services and Managed Work From Anywhere technology, we help you onboard and employ international talent quickly and compliantly while providing everything your remote employees need to #WorkFromAnywhere safely and securely. Book your free demo today.