Navigating Global Talent Pools: Scaling from 30 to 200 Headcounts

In the dynamic world of fintech startups, growth is not just a goal; it’s a necessity.

For Shares, a burgeoning social trading platform, the challenge was clear: scale the team from 30 to 200 headcounts to become a leading force in the industry. As the newly appointed Chief People Officer, I was tasked with building the HR department from the ground up—a challenge I embraced with open arms.

Shares stood at a pivotal moment, ready to carve out its space in the competitive landscape of social trading. Our ambition was to not only participate but to lead. To do so, we needed to attract and recruit the best talents globally, a daunting task for a startup with limited legal entities.

We approached this challenge with three innovative employment strategies:

1. Contractor Engagement

• Advantage: Quick and flexible, this method allowed us to staff up rapidly without the complexities of payroll management.

• Disadvantage: The risk of misclassification loomed, threatening potential legal repercussions.

2. Employer of Record (EOR) Services

• Advantage: Services like Deel, Papaya Global, Remote, and Oyster managed compliance and benefits, streamlining the employment process.

• Disadvantage: The convenience came at a cost, with service fees adding to employment expenses.

3. Isolated Employee Hiring

• Advantage: This method provided employees with benefits comparable to direct hires, eliminating misclassification risks.

• Disadvantage: The most time-intensive option, it required custom contracts and complex payroll setups, potentially necessitating a local branch as the team expanded.

By leveraging these three pillars, we navigated the complexities of global expansion with creativity and adaptability. The result was a robust team capable of propelling the company to the forefront of the social trading world.

The Key Takeaway? For companies that are remote-friendly, the lesson is clear: don’t confine your hiring to where you have a legal presence. The world is your talent pool, dive in and make a splash!

P.S: Wondering how to tap into the vast ocean of global talent for your company's growth? Let's chart the course together. Book a discovery call with me here, and we'll navigate the waters of international hiring to scale your team effectively.