London emerges as the top global hub for remote workers
New findings from Deel, the leading global hiring, compliance and payroll platform, show that London is the top city in the world for global, remote workers. Toronto and Buenos Aires followed. Deel’s biannual State of Global Hiring report draws on data from 100k+ cross-border contracts across 150 countries, from January-June 2022.
As the recession looms, global hiring continues to grow, driving up salaries
The State of Global Hiring Report shows that as economic pressures mount, global and remote hiring continues to grow, as companies look to cross-border hiring as a solution to accessing high-quality talent and meeting human resource needs. In fact, Deel’s data – pulled from 100k+ worker contracts – shows that rates of companies hiring abroad increased in all regions, with LATAM and APAC leading the charge at 161% and 159% respectively. EMEA closely followed at 155% and global hiring increased by 149% in North America.
In the wake of “The Great Resignation”, and as the world braces for an impending recession, a high demand for talent coupled with a shortage of available candidates have led many companies to look beyond borders to find quality talent. As a result, salaries are rising around the world, growing fastest in Italy (+175%), Brazil (+174%), and India (+158%). In terms of the roles seeing the fastest salary gains, content (+134%), finance (+111%) and customer success (+106%) roles around the world experienced the highest increase.
The UK is EMEA’s top destination for global hiring – for organisations hiring and workers hired
The UK is home to the most organisations hiring global, remote working in the EMEA region, followed by Germany and France, respectively. H1 2022 saw a 154% increase in UK employers hiring remotely.
The UK is also a popular destination to hire from. In terms of residing workers being hired by remote, global organisations, the UK ranked fourth in the world and first of all EMEA countries. Millennial workers (25-34) make up the majority at 60%, and tech dominates, with software, internet and IT roles growing fastest. The top three countries hiring UK-based remote workers are the US, Canada and the UK, and the top roles hired are content creators, software engineers/developers and business development pros. Ukraine closely followed the UK in terms of remote workers hired – marking its first appearance in the EMEA top three.
Crypto payments hold, despite crypto winter
Crypto payments have remained stable in H1 2022, at 5% of all global payments withdrawn monthly from the Deel platform. In comparison, in H2 2021, 2% of all payments were taken in crypto, representing the growing demand for crypto. Crypto payments are particularly popular in places with currency volatility, with countries in LATAM and EMEA more inclined to accept payment in crypto, accounting for a 67% and 24% share of all global crypto payment withdrawals. Bitcoin is the most popular coin type, at 47%, followed by USDC at 29%.
Deel allows businesses to hire, pay and manage remote contractors and employees in 150 countries. This includes onboarding, contracts, expense management, benefits, payroll and built-in compliance.Through Deel, remote workers are employed by its local legal entities who handle the entire local employment process including compliance, payroll and HR admin.
Commenting on the findings, Matt Monette, Country Lead & Head of Expansion UK and Ireland of Deel, said: “It's equal parts interesting and encouraging to see how the UK retains its reputation as the centre for the brightest talent, particularly in the tech sectors where it remains the place to source the best people. As economic pressures increase, companies need to be smarter in their hiring strategies to remain competitive and bring in the right talent. Remote working allows them to do this.”
Alex Bouaziz and Shuo Wang launched Deel in 2019. Following its Series C fundraise it became a unicorn with a valuation reaching $1.25 billion in just under 24 months. Its Series D fundraise in October 2021 brought Deel’s valuation to $5.5 billion, making it the highest valued company in the global hiring, payments and compliance space.
The platform currently supports over 8,000 customers in over 150 countries and has over 1,100 employees across 75 countries.
