I’m personally hopeful about what will 2023 will bring to the business. I saw companies rise above the adversities of last year by adapting to change. My clients did well with their bottom line as they embraced having distributed teams worldwide.
The last two years transformed the business landscape in ways we cannot imagine. Yet, we’re still in the constant battle against climate change, economic and political shifts, and the global pandemic.
The new year offers new hopes and opportunities for businesses to grow and achieve greater heights. What are your plans for business growth this year? Any strategies do you have in mind?
Here are some strategies from business leaders as they look forward to a productive new year ahead.
Leverage Global Opportunities
It’s the right time to go international. More organizations went global last year. They’ve explored international markets and tried to penetrate foreign consumers with their unique products and services.
Are there lots of global opportunities? The answer is a big YES! Most tightly-knit markets welcome foreign investments today.
Moreover, there are lots of collaboration tools available. You can use it to manage and communicate with your remote teams. Of course, expanding your international footprint, as most business leaders will say, is easier said than done. However, the rewards of going global are like finding a goldmine.
When done right, it protects your enterprise when the domestic market falls and creates growth potential for your business in other demographics.
Out-of-the-box Sales and Marketing
Indeed, the digital paradigm offers unique ways to connect to your target market. New sales and marketing methods give your business an edge over the competition.
Social media marketing and other platforms will help you reach your global audience. Target-specific campaigns that capture your audience’s attention to visit your website or read your insights about related topics. You’ll be surprised at how many interactions and inquiries you’ll get on your business pages.
Of course, effective sales schemes will place your company on top of the game. But, it also creates a strong connection between your business and your customers, nurturing long-term relationships.
Get International Talents
As you explore the global market, having a diverse workforce is the key to your success.
Now, your company is not limited to hiring someone who lives proximately to your headquarters. The international talent pool will help you find the best candidate wherever they are.
Furthermore, workforce diversity opens a different perspective and local knowledge on how to market and sell your products to foreign markets.
Go ahead and test the waters. If you find it hard to set up your legal entity in the country that you want to start expanding, employers of record (EOR) providers can help you with HR and admin tasks for your remote staff.
Hire an Employer of Record Provider
Employer of Record (EOR) providers alleviate the stress of payroll, compliance, benefits, and other tasks for your international expansion. In addition, EOR providers act as the legal employer on paper for your teams.
EOR provider will not replace your in-house HR teams. It will only boost its capacity to handle international employees while ensuring that you abide by local laws and regulations.
Employ is an EOR provider that covers many countries that has expansion potential. We offer global employer services, international payroll services, visa & immigration services. Learn more on we can explore and leverage new markets together this year. Contact us today, and let’s talk about global opportunities for your business.
Olivia Yu has decades of experience in the Human Resources industry. She’s the Regional Director for Asia Pacific of a famous international HR company. Olivia’s international experience inspires her to write articles about human resources and global staffing.