October 25, 2024
Remote recruiters do not have any geographical boundaries. Because of this, companies can increase their talent pool while searching for candidates. This allows them access to emerging markets where talent is relatively cheap and plentiful. There are multiple types of remote arrangements in the business model. There has also been an increase in opportunities and new doors have opened for global talent.
If you are looking forward to hiring remote employees, you must understand these remote business models.
A freelancer is simply an independent contractor who provides their services to people or a company. They earn money on a per-task or per-job basis. Freelancers are not employees of the company. They are commonly available to fulfil jobs for other companies while also working on your projects. However, the freelancers can also be committed by a company on a contract. In this way, they will work exclusively on a particular scope of work until it is fulfilled.
With the help of a freelance workforce model, companies can hire one or more freelancers to do various jobs for your company. While hiring is an easy task in a freelance model, businesses must make sure to keep everything in control through monitoring. One of the most important advantages of using the Freelance model is that it helps in recruitment faster than any other model.
If you are looking for a full-time employee for a highly-skilled job, you may take six or more months to hire them. However, hiring a professional freelancer is possible in a few days. For an on-demand workforce, choosing a freelancer is a flexible hiring option for businesses seeking specific work. It means you can access freelancers whenever needed and they are off the payroll after the job fulfilment.
“The Global Team Model means using a globally distributed workforce of employees to perform your business. The GTM is a team that includes full-time company employees. In this model, the team works on a single business where most members are in different countries and work remotely from there.
One of the most common benefits of the GTM is being able to find talents from across the world. The bigger the circle for talent sourcing, the more chances of finding the top international work team. Increasing the talent pool and using the GTM ensures you find the top remote talent. Creating a team that includes top performers from various parts of the globe will provide you with a diverse business culture. With a global team, your business will have an extensive range of experiences from which it can draw to establish better solutions.
A global team can also improve your overall team productivity and performance as the company operates. Being in multiple locations across the globe puts your international workforce across different time zones. It means that your projects can be fulfilled faster. This is specifically beneficial for businesses that work with partners and clients all over the globe. “ - Joe Cronin, President of International Citizens Insurance
The Virtual Team remote working model utilises a team of different freelancers. These freelancers help execute your business. Furthermore, Virtual Team members are international contractors. These contractors work for you full-time. Also, these contractors are drawn from a good number of freelance workers. You can locate these workers anywhere globally, however, they are not your company employees. By working together, they can make up your virtual company or department.
As mentioned earlier, the team members in a Virtual Team model are freelance workers. Therefore, the model provides you with many of the benefits of the freelance model. For instance, getting the required talent is comparatively fast and easy. Moreover, freelancers are relatively less expensive. It is because you do not cover employee benefits, office equipment, taxes, etc.
Plus, in the Virtual Team model, every hire would have particular strengths. You work together with the chain of expertise in a way that when a team member finishes their task, they pass the deliverable to another person to work on the stage.
“The Dedicated Team Model includes getting remote workers from any third-party company to work on a project full-time. Using the DTM means hiring a remote team through an outsourcing company. You find an outsourcing company and define your project requirements. On the basis of these requirements, companies put together a remote workforce with the right skills. After that, the team works exclusively on your project under your business's supervision.
Since a DTM works exclusively on a project until completed, tasks are often fulfilled promptly. In contrast to in-house team members or side gigs who may have other responsibilities within the company, this model often establishes more productive results and provides guaranteed quality control.” Ben Hilton, Managing Director at Switch Jam Digital
The Nearshore Outsourcing remote business model means using a remote workforce in a neighbouring country to function your business. It is the middle ground between offshore outsourcing and onshore outsourcing. Onshore outsourcing is contracting services to someone who is outside the company but within the country. Whereas, offshore outsourcing is contracting services to someone outside the company but in a faraway country.
“It is essential to differentiate that nearshore outsourcing is hiring a remote workforce or hybrid teams from a neighbouring country and not necessarily from your nearest neighbours. As an American company, countries for nearshore outsourcing are not only Mexico and Canada. US companies will benefit most from nearshore outsourcing by hiring from Latin American countries. These may be The Bahamas, Brazil, Cuba, Jamaica, Argentina, Granada, etc. When you source your team near to home, you can avoid problems related to sourcing right at home or too far from home. “ - Natalie mccalla, Co-Owner and Creative Director of Alpine Dog Company Inc
The diverse range of remote business models provides solutions to get the best talent while saving a lot on payroll costs. Business models are varying and it is suitable for companies to choose the ones that fulfil their requirements. Since there are more models, there is also increased potential for global talent, maximising opportunities.
