The internet is a wonderful thing that has provided mankind with many conveniences. From getting rid of paper in the office to making communication nearly instantaneous, it seems that there is nothing this technology cannot do. It is no wonder, then, why companies have started taking advantage of this and other technologies in order to make their business run more efficiently than ever before. One way to grow your business is by establishing branches in different parts of the globe, ensuring that you are able to get and retain talent regardless of their location. But before you start hiring tons of promising recruits from around the globe, there are a few things that you should know. In this article, we will give you four things that you should keep in mind if you plan to start expanding your team internationally.
You Have to Keep Track of Different Time Zones
It can be a huge headache having to remember who is awake in what part of the country, but this is something that comes with the benefits of going global. To help you out, you can assign specific point persons that you can talk to at specific times of the day. Sit down with them and decide on a schedule that works for everybody involved. If you have to, you could even install several different clocks in your office so that everybody knows what time it is in another branch of the company. Just make sure that you respect everybody’s schedule. No employee appreciates being woken up at three o’clock in the morning for something that be resolved by somebody who is actually awake at that time. If it is not an urgent matter, just leave them a message or shoot them an email that they can return to whenever they are ready for work.
You Need to Be Aware of Differences in Culture
Of course, not all countries are the same. If you are not careful, you may end up accidentally offending your foreign employees or clients. Thus, you will have to take time to educate yourself on whatever countries you are planning to set up your business expansions in. Decide on how you will tackle the issues of language barriers, according to Chron. For instance, you may want to try hiring a translator who can help ensure that you are communicating correctly with your foreign employees. If you are not too keen on the idea of hiring a dedicated translator, then you may want to hire employees who have a good grasp of the English language. You must also figure out how you will learn about local etiquette, including their methods of conducting business in that specific country.
You Need to Use the Best Tools for Your Needs
If you want the smoothest communication possible, you can’t just settle for the second best in terms of software and equipment. Since you cannot be there to talk to your new employees personally, you will need a system that will make communications as painless as possible. That is why you may want to look into more robust video conferencing for business solutions. If you are worried that your sensitive information may be exposed to unauthorized individuals, fear not, as these types of solutions already have built-in encryption methods. This ensures that your meetings are secure and free from any prying eyes or ears. By using these types of systems, it is almost as if you are in the same room as your other employees. This can boost moral and camaraderie in the office, making employees feel like they are cared for versus being just cogs in a machine.
You Have to Know Tax Codes and Compliance Issues
Though taxes are already hard enough figure out in the United States, it can be even more complicated once you bring an internationally based teams into the picture. Remember: taxes do not work the same way in other countries as they do in the U.S. In fact, taxes might be even higher in other countries! You have to take that into consideration before setting up shop in a new area, or else your business may just go under. According to Business News Daily, some foreign banks may not feel confident about working with a company based in the U.S. because of the added complications to administrative tasks. In the end, you may end up having to put up a new business identity and bank account specific to that country, separate from your existing account.
While expanding your business can be intimidating, you can pull it off smoothly if you do enough research and preparation in advance. Keep these tips in mind so that you will not find yourself blindsided by any unexpected hindrances during the process of making your business go global.