Having trouble finding remote work? Foreign companies might hire you.
Looking for remote work? You might want to cast your net beyond the U.S.
International firms are hiring U.S.-based workers with sought-after skills and aren't asking them to commute to the office.
In 2023, overseas companies hired 63% more U.S. employees compared to the previous year, according to data provided by Deel, a remote-first company that provides human resources solutions to companies including Hermes and Nike.
Deel analyzed more than 300,000 contracts between workers — including contractors and full-time employees — and companies, across 160 countries.
Firms in the United Kingdom hired the most American workers, according to Deel, followed by Canada, Sweden, Australia and France.
Foreign firms scooping up U.S. talent
"Companies outside the U.S. are starting to grow and they want to tap into a pool of talent that has unique skills. Some of the great startups were built in U.S., so they are going into the U.S. to hire workers. It's an amazing opportunity," Deel CEO Alex Bouaziz told CBS MoneyWatch.
Recent waves of tech firm layoffs from some of the biggest players in the industry, including Google and Microsoft, mean thousands of U.S. workers are without work.
Some foreign firms are scooping up tech workers who have been victims of these job cuts, according to Bouaziz.
"A lot of great talent is available and it's being picked up by these foreign companies," he said. "Some of these highly skilled workers are available for first time with the layoffs, and it's exciting for non-U.S. companies."
U.S. firms are simultaneously offering fewer fully remote positions. While remote job opportunities are still sought after, they have declined in the U.S., from a peak of 10.3% in February 2022 to 8.3% in December, according to data from Indeed's Hiring Lab.
UK-based media company, the BBC, and Estonia-based Veriff — an identity verification company, are among the Deel clients that have hired remote U.S. workers. Other companies include Swedish fintech company KLarna and New Zealand-based social cataloging service Letterboxd.
From which cities are foreign companies hiring the most U.S. workers?
San Francisco is home to the largest number of workers doing jobs for overseas companies, according to Deel. New York is second, followed by Chicago; Austin, Texas; Miami, Portland, Oregon; Boston; Atlanta; Seattle and Dallas.
Consider time zones, currencies
There are a few things to consider before signing on to work in a remote capacity for a foreign firm, one being time zones. Working for a foreign company might require you to keep odd hours to be in sync with overseas teams.
Company cultures, customs and communication styles at foreign companies could also be different from what U.S. workers have come to expect at American firms, "so make sure it's a fit for you," Bouaziz advised.
It's also important to keep in mind that health care systems in other countries are different from the U.S. and your compensation package should include a form of health insurance that works for you.
"Make sure you have a full understanding of your offer, and that it includes benefits that are important to you," Bouaziz said.
An additional consideration is negotiating the currency in which you want your salary to be paid.
Megan CerulloMegan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News Streaming to discuss her reporting.
