Recent research shows that over 62% of companies are planning to hire internationally, and 38% indicated that they are going to establish global teams in the next six to twelve months. If you see the benefits of hiring employees in Europe, this is the article for you. Apart from finding the right people for the right position, European employees are bringing in different skills and a fresh perspective to the company. And this is a huge benefit for businesses in a rapidly changing labour world. So, what was the first steps for North American companies who have decided to hire in Europe?
Where to start your international recruitment endeavour?
When North American companies decide to hire in Europe, they run into their first challenge - how to even start? Hiring in Europe is different from hiring in the USA, and companies need to adjust. But before the hiring process, you have to determine what skills are you lacking in your workplace and where you might be able to find them. So, the first step would be to detect that there is a growth opportunity for your business. Then you can dig deeper into the research.
Why hire in Europe?
Europe is offering unique and significant opportunities for companies with an international ambition and mindset. It is a very large and sophisticated market, with a pool of talented specialists in various industries and professionals with international experience. This is creating many opportunities for North American businesses to select the best candidates for their roles.
Employer of Record
When you know what the benefits of hiring in Europe are, you need to figure out how to do it in a compliant manner. Entering the European labour market is challenging because every country has its own labour laws, cultural expectations, and hiring processes. Being home to many countries, you will for sure need some help when you decide to expand in Europe. Especially, if your plan involves hiring in various countries, you will need to have a permanent establishment in every country. But, instead of setting up an entity in every European country, you can find a HR outsourcing partner who will act as an employer of record (EOR). In this case, you can hire employees anywhere throughout Europe without creating permanent establishment. This is especially beneficial for companies with a emphasize on risk minimization. With EOR services you will be compliant with the law of every country. Hiring locally via a boutique EOR provider will add value to your business because you will have a European HR extension to your team, that will communicate with your employees, take care of your payroll in time, and make sure that cultural expectations are met. There are different EOR service providers, some of them are online platforms for hiring, and some are offering a boutique service where you are dealing with real people. Both are beneficial depending on your company’s needs.
Unlimited talent pool
Probably the main reason why North American companies decide to hire elsewhere is getting access to the much wider talent pool. When hiring in Europe, you get access to local market knowledge and skills that might not be available in your country. Many companies nowadays are searching for a multicultural workforce because that brings another perspective and value to the business. Having an EOR partner will unlock access to all European countries. Since there are many labour markets in Europe, you will be able to find the right workforce with ease, just to determine what country is for you. For example, there are over 1.7 million science and technology professionals in Europe, France is known as a tech hub, and over 40% of international students with diverse PhDs are living in Europe. Hiring in Europe will bring you highly educated talent that speaks many languages. On top of that, employment can be cheaper in Europe compared to the USA.
The first step for your business expansion
Finding an EOR partner who will take care of your HR activities will allow you to invest more time into your business development. Many companies, when they want to explore new markets, start by hiring in a foreign country. It can be your first step towards a new market and it will allow you to have more time to research whether there's a fit for your business or not. Finding the right talent in Europe can be the first step for your business expansion plan's.
With EuroDev, you can hire abroad fast without worrying about setting up an entity and the related tax implications. You will stay compliant in every European country of your choice and you will have an excellent team experience to offer necessary HR support. Let’s chat about next steps for your hiring in Europe.
About EuroDev
EuroDev, established in 1996 with offices in The Netherlands, has a single, defined purpose to help mid-sized North American companies expand their business in Europe. We have created a proven, successful business development model and since our founding, have partnered with over 500 companies to help them define and meet their European business goals. Services provided include Sales Outsourcing, HR Outsourcing and Digital Marketing.
Disclaimer: While we strive to provide accurate and timely information, please note that HR policies and regulations can change frequently. It is recommended that you seek guidance from our HR consultants to ensure that the data presented here is current and accurate.
Source: Eures
