Employees demand work from anywhere
Remote work has become a norm, rather than a perk.
- This is a talent-driven market. Headlines about “the great resignation” and “the war for talent” haven’t diminished. All data points highlight the desire for increased flexibility by the employees.
- The geographic radius for recruitment and employment is expanding. The market is driving more companies to support hiring in new jurisdictions and work in locations where they haven’t historically done business. This increases the potential talent pool substantially but also leads to an intensified talent market.
- Multiplying work locations creates immense challenges. Business functions want to offer flexible work to remain competitive, and they’re pushing corporate functions—from legal, compliance and HR to finance and tax—to support it. But this means they’ll also have to manage increased risk, and the increased use of technology to support the size and scale of the cross-border population which is becoming a necessity.
- More companies than ever must manage cross-border employment arrangements. The issue was once limited to a certain segment of the working population, and often only the largest of organizations. Now the issue affects many more employees at companies of all sizes. Preemptive planning, including guardrails and structure solutions for tax and regulatory risks, will help manage these risks.
Three practical solutions to bring flexible work to life
Before companies can implement more flexible employment options, they need the guardrails, operational, and legal structures to manage workflow and risk.
- Establish policy guardrails to ring-fence risk.
- Determine the right technology for increasingly complex workforce management.
- Establish structures that support talent expansion and cultivation.