Global hiring is becoming a reality for companies of all sizes in almost every industry. But assembling a global team is just the start. It’s the effective management of your team that will dictate your success moving forward.
Despite the many benefits of hiring a global team, there will always be a handful of challenges to overcome. Understanding these challenges goes a long way in helping you address them head-on. While there’s no way of knowing exactly what complications you’ll face in the future, here are five of the most common challenges of managing global teams.
Frequent communication is imperative when working with a global team, but some roadblocks can stand in your way. These include but are not limited to:
Despite these challenges, there are tools that can help. For example, video conferencing software allows you to communicate face to face. This can make up for the fact that you’re not in the same physical location.
A big part of successful global team management is ensuring that every employee is compensated fairly. This can be a challenge when you consider exchange rates and varying costs of living.
Localized pay is the key to fair compensation, but this isn’t something to manage manually. It makes more sense to deploy a software solution—such as Oyster’s global employment platform—that simplifies the process of paying employees in their local currency.
It’s easy to say that you’ll provide all your employees with the same benefits package. And if they all live in the same country, doing so is often a straightforward process.
Providing equal benefits is more complex with a global team. One of the primary reasons for this is that local laws, regulations, and holiday schedules vary from between countries. Once again, utilizing a proven software solution that accounts for these differences generally makes more sense than trying to learn all of the ins and outs yourself.
The days of onboarding all new talent in person are a thing of the past. Today, you’re likely to do most of your onboarding remotely—especially when it comes to global teams. This includes everything from collecting tax documents to sharing training manuals and holding meetings.
Without a defined onboarding strategy, you’re likely to overlook important details that will cost your company time and/or money. Furthermore, an inefficient approach to onboarding could make for a miserable “startup period” for new hires, resulting in an above-average turnover rate.
5. Fostering a great team culture
Communication, coordination, and collaboration are essential to the long-term success of your global team, but don’t let these factors overshadow the importance of fostering a great team culture. You want to build a global team that meets the needs and maintains the trust of new and existing employees alike.
Here are some tips for fostering an impressive team culture:
Now that you know the challenges of managing global teams, it’s time to get the help you need to succeed. And that’s where Oyster can step in.
Oyster gives your team members a simple dashboard where they can file expenses, apply for time off, and view their contract, payslips, and benefits—all from one place. Oyster also handles all the legal complexities of onboarding and paying in countries around the world, which allows you to spend your time looking after the team’s well-being.
To put it simply, Oyster enables hiring anywhere in the world. Get started by registering online for a free account. From there, you’ll have everything you need to better manage your global workforce.