Finding top talent is a challenge for many employers – and the cost of hiring being one of those challenges, however, hiring remotely can be more cost-effective because employers have access to a wider pool of talent from more affordable states.

Hiring costs are always top of mind for employers, especially when taking into account mandatory contributions to programs like unemployment and health care. However, the boom in remote work has allowed employers to expand their hiring possibilities beyond the boundaries of their home bases.

"Finding top talent can be a challenge for many business owners with the cost to hire an employee being one of them. When hiring remotely, not only do employers have access to a wider pool of talent, they can also look to be more cost-effective when hiring individuals from different states," says Anastasia Pshegodskaya, director of talent acquisition at employment solutions specialist Remote. "With this in mind, it's worth employers investigating talent in specific states if cost is a challenge in the hiring process."