The benefits of talent acquisition can help your enterprise compete regionally and scale globally.
Whether your team operates in four countries or 40, a global talent acquisition strategy can help you target top talent, regardless of where that talent is based. A flexible, border-fluid approach to talent acquisition enables the most creative enterprises to build and maintain position as market leaders.
As a talent executive or HR leader, you can add value by initiating a business conversation around this approach. To help spark the discussion, here are five key benefits of talent acquisition driven by a global focus.
Talent acquisition benefit 1: operational efficiency
Companies with far-reaching operations often enlist local agencies to help source hires. Alternatively, a global approach to talent acquisition helps your business streamline hiring processes. It can reduce costs while improving communication about hiring needs and regional skills gaps.
Here’s an example scenario. Consider a global logistics company seeking supply chain managers. The business already has talented inventory managers on the payroll in other countries, some of whom are showing key signs they’re ready for a change.
How would this scenario fit into a global talent acquisition strategy?
To begin, a global strategy would typically include key communications and awareness campaigns. As a result, existing employees would be actively invited to apply for the job, or to at least participate in preparatory training for similar openings.
The company would also save on agency fees, while reducing the time and expense of on-boarding new employees. Workplace morale also benefits from the availability of career development opportunities.
Talent acquisition benefit 2: better candidate journey and employee experience
Global talent acquisition also enables greater consistency along the candidate journey. With a unified approach to candidate messaging, you can ensure each touch point represents your employer brand.
Your employer brand reflects your genuine global employee value proposition. Your talent outreach should be positive and clear across all regions.
Whatever country the candidate is based in, he or she should receive a consistent representation of your business. There will always be a degree of cultural nuance in any multi-regional enterprise, but this shouldn’t cloud the delivery of your global values. This is particularly important in the world of social media recruitment marketing.
No matter where your workers are in the world, they feel as though they are a valued part of a professional community. With these essential elements in place, your team can more easily recruit permanent and contingent workers in new regions.
Talent acquisition benefit 3: richer diversity and tangible business gains
Thanks to advanced collaboration, messaging, and video-conferencing technologies, companies can schedule brainstorming meetings with team members on different continents. These tools allow your business to access the skills, knowledge, and creativity of people from across the globe.
Effective collaboration in a diverse environment can benefit the bottom line. That’s because companies in the top quarter for ethnic and gender diversity are more likely to have above average profitability compared with companies in the bottom quarter.1
Talent acquisition benefit 4: local insights into new markets
The number of Fortune 500 companies based in global emerging markets may exceed 45 percent by 2025, according to McKinsey & Company.2
So, when expanding into new and emerging markets, companies must understand the local culture, economic climate, business practices, and effective sales strategies of each region. These are not the same the world over. Hiring local talent allows your business to integrate into the community quickly and effectively, helping to avoid the cultural missteps that can harm business prospects.
Talent acquisition benefit 5: business solutions powered by key skills
Astonishingly, 70 percent of employees in professional services work remotely one day per week, and more than 50 percent work remotely at least half the week, according to IGW.3
Flexible work incentives intensify the competition for skilled workers. But a strong global talent acquisition strategy can let you cast a worldwide net to attract the people who offer key creative and cognitive skills.
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1 Dickey, Megan Rose. “Diverse teams are still *really* good for business, McKinsey says.” TechCrunch. Web. 18 Jan 2018.
2 McKinsey Global Institute. “Urban world: The shifting global business landscape.” Web. Oct. 2013
3 Browne, Ryan. “70% of people globally work remotely at least once a week, study says.” CNBC. Web. 30 May 2018.Get In Touch