Get All Access for $5/mo

Future of business success in this digital age is adopting a distributed workforce model Increasingly, businesses are embracing a distributed team model as a modern means for workforce development. Distributed workforces are teams with people in multiple locations and often, multiple countries.

By Job van der Voort

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

In today's fast-paced digital age, a company's success strongly depends on its capacity to attract, train, and retain a talented and adaptable workforce.

Workforce development is the process of enhancing employees' abilities and knowledge in order to increase their performance and productivity and, eventually, the profitability of the business. Training, chances for professional advancement, and mentoring programs might all fall under this category. If companies want to remain competitive in the modern digital environment, they must make an investment in their people.

Increasingly, businesses are embracing a distributed team model as a modern means for workforce development. Distributed workforces are teams with people in multiple locations and often, multiple countries. Companies are quickly moving beyond international borders to access cost efficiencies, improve diversity, increase retention, and create new competitive advantages. Global employment platforms allow companies of any size to automate, streamline, and align international employee management, while also managing the risk and responsibilities of employing people legally in compliance with regulations in other geographies.

While arguments over remote work continue, a quieter movement is rapidly overtaking hesitancy in the headlines: the rise of distributed work. Employees discovered increased mobility and flexibility through remote work, and saw that it provided an opportunity to achieve better work-life balance and access careers independent of their geographic location. As economic uncertainty caused some to retreat into familiar offices, other businesses took the opportunity to think past local limitations — and found substantial rewards in doing so.

According to 2023 Remote Workforce Report: The Rise of Globally Distributed Teams, businesses and their employees in India, North America, Europe, APAC, and Latin America are optimizing their headcount and operational costs in the age of remote work. As per the report, businesses feel that distributed remote workforces have provided a competitive advantage. Decision-makers hire remotely, both in-country and internationally, to get top talent. Despite 53% of decision-makers in remote workforces saying headcount costs have increased, and more than half (55%) still would rather hire the best person for the job even if they live in a different country.

Opening roles to international candidates leads to higher-quality applicants. 60% of decision-makers say the number of quality applicants per open role has increased since their company adopted a distributed remote workforce model. Hiring internationally allows businesses to be more competitive in new markets. 35% of decision-makers say they can improve market competitiveness by serving more international locations when they hire international remote employees.

Here are some additional reasons why a distributed workforce model is becoming increasingly important for business success:

  • Increased Flexibility: With a distributed workforce, businesses can be more flexible in terms of where and when work gets done. This means that employees can work on their own schedules, which can lead to greater productivity and job satisfaction.
  • Access to a Wider Talent Pool: When businesses are not limited by geography, they have access to a wider talent pool. This means that they can hire the best people for the job, regardless of where they are located.
  • Reduced Overhead Costs: Operating with a distributed workforce can help businesses reduce overhead costs such as rent, utilities, and office supplies. This can help businesses become more financially stable and competitive.
  • Increased Resilience: A distributed workforce model can make businesses more resilient in the face of unexpected events, such as natural disasters or pandemics. When employees are working remotely, they can continue to work even if they are unable to physically be in the office.

The last few years have taught employers and employees alike that there are different ways to work. The quick shift to remote work began a global reckoning in which businesses and their employees had to decide what they wanted the future to be.

Job van der Voort

Co-founder and CEO at Remote

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

News and Trends

Amazon Enters India's Booming Quick Commerce Market with Tez

Amazon Tez will first launch as a pilot program, allowing the company to refine its operations before scaling up across the country.

Living

An Escape From Meetings and Spreadsheets: 70,000+ Retro Video Games

Unwind with classic games and streaming on one powerful emulator and streaming console.

Growing a Business

This Chef Went From Dreaming of Michelin Stars to Building an Audience as a YouTube Star

Chef Sohla El-Waylly never set out to be a food content creator, but a series of events led her to her current career.

News and Trends

Orios Venture Partners Leads USD 1.45 Mn Investment in Climate Tech Startup Sustainiam

The fresh funds will be used to launch a digital platform for trading environmental assets, scale its workforce, and expand operations globally.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.