One of the greatest silver linings to come out of the COVID-19 pandemic has been the obliteration of the requirement of physical proximity to the office.
Where you once had to target your hiring practices and campaigns to a specific area, now a lot of companies have dropped their geographical requirements altogether, allowing you to work from anywhere.
And while that’s good news for the employee, it presents some unique challenges for the employer, specifically if they’re hiring international employees in locations where they don’t have an entity.
On this episode of Payments Innovation, we talk with Aurel Albrecht, Founder at Lano, about:
- How Lano can help you break down those geographic walls when it comes to hiring
- Why the remote work trend is so good for businesses
- The key challenges that companies should be thinking about when hiring remotely
- The opportunities Lano and their clients are seeing from a multi-currency perspective
Let’s dive into the nitty-gritty on Lano and the world of remote hiring!
“I started looking a lot at the remote work market in general, because even pre COVID, it was a fast growing market. We looked a lot at it from a business perspective and quickly realized that there are no tools in place to manage this type of workforce.” — Aurel Albrecht
Breaking barriers
A native of Germany, Aurel began his career in the startup world in Berlin. He founded Lano in 2018, determined to help companies build revenue by embracing the work from home revolution.
And they’re bringing immense value for both customers and employees.
The pandemic radically accelerated remote work demand and capabilities all around the world. Lano is helping businesses go international much faster by utilizing their global payroll platform and giving them everything they need to build and manage a global team.
“Our mission statement at Lano is bringing the world’s infrastructure into one API.” — Aurel Albrecht
Innovative solutions
How to successfully hire workers internationally has been a big challenge, especially for organizations seeking full-time staffers. Cross-border payments have been a particular pain point.
Aurel is streamlining the process for managing payroll in over 20 countries.
For your standard CFO, this would be a nightmare. Lano has combined everything you need into one user-friendly API.
They’re situated atop the intersection of cutting-edge HR tech and Fintech.
For payments specifically, Aurel has created a Currencycloud. This enables employees to invoice and get paid in their own currency with as little friction as possible.
Lano also ensures your organization is totally in compliance with local laws and tax regulations.
“Social interaction is something that you need to implement within your company in order to make remote work really work.” — Aurel Albrecht
Adapting quickly
The world is slowly opening back up, but we’ll never go completely back to the way it was before.
Workers who’ve fallen in love with the freedom and advantages of remote work don’t want to give that up.
Many companies are struggling with talent acquisition because more people demand to work at home. Aurel says you have to accept this mindset fast if you want to snare the best.
But a 100%-remote operation won’t work for every company.
Aurel believes you need one hub, “where you can bring the team together from time to time, from where you can build strategy and culture.” Your people might love remote work, but they crave human interaction and a transfer of knowledge.
There’s also the issue of trust. If a business doesn’t trust the worker’s ability to perform without constant ominous monitoring, that’s only going to create more problems.
Aurel feels strongly that the rituals of team events are crucial to creating a trust for companies with a remote workforce.
“The whole space that we are operating in is going through a huge transformation. We are swimming in the blue ocean. There are so many directions we could go.” — Aurel Albrecht
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Until next time!
