When you opt for the extended team model, you have control over:
- Selecting your employees;
- Creating the team;
- Communication within your team;
- Working processes.
However, there are things that do not depend on you, but which, nonetheless, may impact the quality of the work and, accordingly, the profitability of your business. Things you don’t have control over, but may impact your business:
- Talent acquisition and retention
- Regional geopolitical situation
- Domestic political instability
- Legal frameworks and regulations
These are broader issues, right? Before evaluating them, one should know something about the place we talk. In foreigners’ eyes, Moldova’s biggest issue to confront is it being confused with the Maldives. We’re not Maldives. We don’t have the seashore and we don’t have that many beaches.
Talent acquisition and retention is a vital aspect to consider when extending your team in Moldova. While the country boasts a growing pool of skilled IT professionals, retaining top talent can sometimes be challenging due to factors such as competitive job offers from abroad and the allure of working for multinational companies. Therefore, BackstageIT, with its extensive activity experience in Moldova, and already having a name and a reputation in the local market, continuously implements effective strategies for attracting and retaining skilled professionals to ensure the long-term success of a partner’s extended team in Moldova.
You might think that the regional geopolitical situation, including the ongoing war in Ukraine, is a significant concern when considering extending your team in Moldova. However, Moldova has managed to maintain neutrality amidst the conflict. While the war zone’s proximity and potential geopolitical tensions in the region might seem alarming, they have had minimal impact on business operations in Moldova so far. Staying informed about geopolitical developments is wise, but it’s essential to avoid overreacting and unnecessarily worrying about potential risks to your extended team in Moldova.
Domestic political instability? Well… we’re not shaking and falling apart like Sauron’s tower when Frodo does his job. While Moldova faces some political challenges and external pressures, it has managed to maintain a stable environment conducive to business, especially in sectors like IT. By the way, the IT field is like a little privileged economic island. It’s got its own fiscal regime and it produced more than 10% of the internal GDP in 2023. Our internal GDP (Great Deals Picking) is pretty high too, so we’re waiting for you.
Legal frameworks and regulations? Corruption? Moldova has been working hard to clean up corruption by putting new laws and rules in place. They’ve set up special groups, like the National Anti-Corruption Center, to catch and punish corrupt activities. Also, corruption is not mandatory, you know. It’s not written in the Constitution, it’s not dictated by the law. There should be a suitable environment for it to bloom. At BackstageIT, it just doesn’t work. The accountancy, the contracts, the wages, everything is transparent, and we don’t see ourselves doing things otherwise. We respect ourselves, we respect our partners and it translates into an honest mutual commitment. Our Dutch partners and the companies we already work with can be called in the witness box anytime.
In conclusion, remember: extending your team abroad is a bit like embarking on a wild adventure. While there are factors beyond your control, such as geopolitical situations and talent retention, proactive measures can be taken to mitigate risks and ensure the success of your extended team. And with the right guide (hint: that’s us at BackstageIT), it can be one heck of a ride!