5 Benefits of Global Mobility for Startups
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- Global mobility is a company’s ability to support a global workforce, fulfill workers’ preferences, and win the war on talent.
- For startups, global mobility is a growth and survival strategy to access top talent, unlock global markets, improve agility, nurture innovation, and survive in the future of work.
- Deel’s global HR platform has everything your startup needs to support a mobile workforce and effectively execute a global mobility strategy.
Entrepreneurship is a thrilling journey, with many startup founders embracing global mobility in the early stages of their ventures to travel or relocate to different regions to gain better access to funding, expertise, or potential customers relevant to the startup's niche.
However, the benefits of global mobility go beyond these initial phases of formation. In this article, we explore why startup founders should embed global mobility into their overall expansion strategy to enjoy global success.
1. Access to wider talent pools
47% of small business leaders reported job openings they could not fill in March 2023, and 21% reported labor quality as their top small business operating problem, according to NFIB's monthly jobs report.
Startups can overcome talent shortages and skill gaps by embracing global mobility and tapping into a wider talent pool. They can relocate international employees with desirable skills to the startup's home base, relocate employees to a new location with market potential, or enable workers to operate remotely from their home country.
Sourcing top talent for key initial hires is crucial for startups and can be a make-or-break factor for their success. The first hires set the tone for the company culture, work ethic, and skillset. Strong initial hires create a solid foundation for future business growth and attract even more global talent.
As the largest EOR provider globally, Deel is the official employer of over 20,000 active employees representing over 100 entities — from Spain and Singapore to New Zealand and South Africa.
✨ Discover how Keego Mobility doubled its headcount since it started working with Deel.
Elias Ek, Co-founder, Keego
2. Unlocked global markets
Expanding your startup's presence in new international markets can substantially benefit your business. By deploying local talent or relocating employees quickly and efficiently, you can establish a physical presence that enhances your brand image and credibility, thereby attracting potential partners, stakeholders, investors, and customers.
💡Deel’s global HR platform also has built-in visa and immigration support to help you facilitate the work authorization and employee relocation process with minimal administrative burden. Via the platform, you can:
- Assess visa eligibility for founders and workers in a few easy steps
- Streamline visa and work permit procurement with EOR sponsorship
- Initiate the visa and work permit application process with the visa application tool
- Track the application process with real-time updates and alerts
- Access support from a team of in-house immigration experts
- View all immigration activities from a single dashboard
Saran Somaskanthan, Head of International Expansion, Zoomo
3. Improved agility
Beyond expanding your customer base and revenue potential, increasing your startup's exposure to new markets acts as a powerful risk mitigation strategy.
Imagine your home market experiencing an economic downturn: by having established footholds in diverse geographical and economic landscapes, you're not solely reliant on that single source of income. This diversification acts as a financial buffer, potentially smoothing out fluctuations and ensuring consistent growth even during challenging times.
See also: Global Mobility and The Cost of Living Crisis: A Survival Guide for Businesses
✨ Discover how Floship retained its top team members, even in the case of relocation.
Carmen Fan, Head of Marketing, Floship
4. Enhanced talent acquisition and retention
A staggering 77% of knowledge workers would prefer to work for a company that allows them to work from anywhere rather than one that boasts fancy corporate headquarters, according to Harvard Business Reviews’ hybrid working study. This underlines the significance of embracing talent mobility as it recognizes workers' aspirations to travel, experience new cities or countries, or even relocate to be closer to their family and friends.
By prioritizing global mobility, startups have the potential to enhance their employer brand significantly and offer a more enjoyable employee experience, ultimately leading to better talent attraction and retention rates through enhanced employee wellbeing.
Many skilled digital nomads and mobile employees are drawn to WFA initiatives as they allow them to enjoy a flexible lifestyle.
Lysette Randall, Executive, HR Performance & Partnering, Quantium
5. Elevated innovation, inclusivity, equity, and diversity
Startups that embrace global mobility gain a competitive edge through the power of diversity. By incorporating talent from around the world, you inject your startup with a vibrant mix of new cultures, backgrounds, skills, and perspectives.
Beyond innovation, global mobility fosters cultural awareness and inclusivity. Your startup gains a deeper understanding of different local markets, customs, and viewpoints, allowing you to tailor your products and services for broader resonance.
See also: The Benefits of Global Hiring for Diversity from Deel
✨ Discover how Deel’s helping Veriff become one of the fastest-growing startups around.
Veriff, global identity verification service company, headquartered in Tallinn, Estonia
Streamline global mobility with Deel
Global mobility holds the power to bring you closer to your ideal business outcomes—but it’s a complex process to navigate alone.
Deel’s global platform combines mobility, global hiring, and HR management to hire, manage, pay, and support talented workers, provide the right experience, and remain compliant so your startup can flourish.
Learn more about how Deel makes global mobility simple, or book 30 minutes with our mobility team to get your questions answered.