Facebook and Twitter believe that most employees will work from home indefinitely. That could make hiring international employees more attractive.
The social media titans Facebook and Twitter have recognized and supported the idea that the majority of their workforce will continue to work from home after the coronavirus pandemic. It's a nice gesture, but both companies will benefit in ways neither of them has mentioned, and in ways that could decrease the number of American employees.
These platforms, like many companies, probably learned many lessons from our social distancing-induced work at home lifestyles. Some companies learned that they can continue to operate using sidewalk services. Restaurants adapted by altering their menu options or leaning more on third-party options like Grubhub. Most administrative jobs pushed their employees to work remotely and take advantage of video conferencing software like Zoom and Microsoft Teams. Most employers in the field had to adapt to continue generating income and serving their clients.
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Facebook and Twitter, however, were in a unique situation. The pandemic has certainly affected them in some negative ways, but working from home significantly benefits both platforms. One of those advantages is that it means that everyone can cut spending by paying less in wages. For starters, a non-negligible part of the cost of hiring new employees is relocation. Advocating for working from home completely eliminates that option, and those savings are amplified with each new employee. More importantly, hiring remote workers from other countries means paying even less. Hiring an employee from India, for example, could be a massive decrease in salary costs since software engineers earn around Rs 600,000 annually: less than $ 10,000 USD. Research like this from Nomadic capitalist Point out that hiring people in Armenia for $ 10,000- $ 20,000 per year still pays its IT workers well above the average wages in some countries.
Social media platforms are also incentivized to recruit remotely due to Silicon Valley. The cost of living in the locations of these companies' offices is dramatically higher than in other sections of the United States. It costs about 64% more to live in San Francisco than most midwestern cities, for example. Facebook and Twitter are certainly aware of these pay gaps and will work to take advantage of them. Therefore, the natural progression will be international recruitment. If companies can save tens of thousands of dollars on hiring from another state, they will save many more hires in other countries. The situation worsens as more companies hire internationally, as additional attention in certain overseas markets will lead employees to seek remote work from the United States.
More: Why did Facebook and Twitter decide that employees work remotely from home permanently?
Source: Nomad Capitalist
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