In today's interconnected world, global hiring has become a strategic imperative for many businesses. But is it an advantage or a compliance disaster waiting to happen? We sat down with Karen Ng, Market Lead Asia at Deel, to explore the nuances of global hiring, its challenges, and the innovative solutions Deel offers.

"We’re seeing companies embrace a global workforce, not only to find the best talent wherever they may be, but also to retain talent from Hong Kong by compliantly hiring their employees who have moved overseas."

Karen Ng, Market Lead Asia at Deel

The Surge in Global Hiring
Why are Hong Kong companies increasingly looking to hire internationally? What types of talent are they hiring outside of Hong Kong, and from which regions?

Karen Ng shares that Hong Kong companies are increasingly adopting a global hiring strategy to bridge talent gaps and tap into a diverse pool of skills and expertise. "We’re seeing companies embrace a global workforce, not only to find the best talent wherever they may be, but also to retain talent from Hong Kong by compliantly hiring their employees who have moved overseas."

This strategic shift enables teams to stay agile and competitive. According to Deel’s Global Hiring Report 2023, the primary roles Hong Kong-based companies are hiring for globally include software developers and engineers. The top regions they hire from are India, the Philippines, Ukraine, the UK, and the USA. The report also highlights a 34% year-on-year growth in global hiring among Hong Kong companies, with 94% of business decision-makers open to hiring outside of Hong Kong.

Navigating Challenges in Global Hiring
What do you see as the biggest challenge in global hiring: navigating complex legal compliance or managing payroll and taxes?

Karen acknowledges that both navigating complex legal compliance and managing payroll and taxes are significant challenges. "Our latest market survey with Hong Kong decision-makers from enterprises found that while enterprises are enthusiastic about globally distributed teams, they are challenged by the complexities of compliance and payroll."

To address these issues, Deel has bolstered its product lineup, offering solutions like Deel Engage for managing career, performance, and training programs, and Global Payroll, a comprehensive payroll product. Additionally, their Carta Integration simplifies equity management, a key component of many startup offers.

Deel recently partnered with Revive Tech Asia to host an insightful luncheon for HR leaders in Hong Kong. 

Deel's Unique Value Proposition
With many companies offering Employer of Record (EOR) services, what sets Deel apart from the competition? How does Deel AI specifically help in reducing the HR workload?

Karen emphasizes that Deel is more than just an EOR service; it’s an all-in-one HR and payroll solution for global teams. "Deel simplifies every aspect of managing an international workforce, from culture and onboarding to local payroll, compliance, and people management."

Deel AI, a global work assistant powered by AI, helps companies effortlessly access reliable global HR information and insights. This tool assists with navigating local laws and regulations, streamlining the hiring process, and predicting worker classification with its misclassification AI algorithm.

Success Stories: Hong Kong Companies Excelling with Deel

Can you share some success stories of Hong Kong companies that have excelled in global hiring with Deel?

Karen shares inspiring success stories of companies like Oursky and BBMSL. Oursky, a software product studio, has expanded its business internationally with Deel's support, saving up to 80% of the time spent on administrative work. BBMSL, a payment service provider, has rapidly onboarded staff across multiple countries, thanks to Deel’s efficient contract and payroll management.

Preparing for Global Hiring
What key preparations should HR professionals undertake before their company begins global hiring and how can Deel help them?

Karen advises that preparation is key. HR professionals should consider the roles they need, the time zones that work, and set up infrastructure to support their global workforce. Deel simplifies this process by handling administrative tasks like onboarding, payroll, and compliance within a single platform.

Additionally, HR professionals should design robust company culture-building programs to attract and retain talent. Flexible work arrangements and opportunities for career growth are crucial, and Deel Engage helps manage career, performance, and training programs to foster a culture of high performance.

Download: Deel's State of Global Hiring Report

To learn more, you can download Deel’s “State of Global Hiring Report 2023” here. It’s packed with insights on global hiring trends, including which countries were most active in hiring, the roles that were in demand, and how the economic climate influenced terminations and salaries.