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Everyone knows that remote companies have access to more talent than non-remote companies. It’s kind of obvious right? You can recruit in any market, therefore, there are more candidates. This is huge — but it’s not the whole story, it’s more than a larger pool. Remote companies actually have 2 huge market inefficiencies in their favor.
Disclaimer — User Interviews is fully remote, and it’s awesome
#1 Supply and demand of jobs and candidates is not the same across local markets
When you look at the total job market across a country, it’s made up of local markets across all of its cities. However, these markets are not equivalent. Some of them have too many companies all fighting over scarce talent. Some of them have super talented people but no company where they can use their skills.
The latter ones are a market inefficiency — and remote companies have access to all of them. At User Interviews, some of the best members on our team are from markets where there aren’t a lot of tech companies competing for them. For example, the first member of our sales team, Brendan, is awesome. He was early at CarGurus, and early at InVision — the guy can sell. He also lives in Stowe, Vermont. He loves to hike with his dogs, spend time in the outdoors with his wife and son, and living in a small mountain town. We were able to bring him on the team early, and one reason was because there just isn’t a lot of competition for software sales professionals in Stowe. Could we have hired him in SF or Boston? Maybe, we definitely have team members in those cities. But our chances of success are much higher with him in Stowe.
#2 There are people who love working remote
I think people fall into 3 general categories. Some prefer an office, some prefer remote, and some are indifferent. There are reasons for all 3, and no right or wrong answer. The people that like remote like it for a number of reasons. User Interviews found that some of the top ones include more flexibility, the lack of commute gives you more time to spend with your family or on yourself, and you get to create your own work environment.
More and more companies are moving remote or partly remote, but for now, large remote companies are still rare. I believe that the number of people who prefer remote work compared to the number of remote jobs is higher than the equivalent for people who prefer to work in an office. The people who prefer remote work are being underserved — and it’s another market inefficiency.
Remote companies have more than just a larger pool of talent. They actually have market inefficiencies that make it easier to recruit talent.