The Need For A Worldwide Talent Acquisition Plan
Whether hiring or anything else, strategy guides so that all key functions work toward the same objective. Similarly, an international talent acquisition plan ensures that your HR departments and associated cross-functional teams are well aware of the worldwide trends in talent acquisition.
Modern HR plans for talent acquisition consider diversity, including ethnic and gender differences in skills, age, religion, education, and interests. Diversity is a top priority for over 76% of managers, according to a PWC poll, when hiring new employees. Diversity has been shown to generate 1.4 times more profitable expansion and 19% greater revenue.
A global recruitment strategy aids in acquiring global collaborators who unintentionally contribute a multitude of viewpoints and diversity to the workplace.
Functional Effectiveness
How well teams in your company run daily is measured by their operational efficiency. Local recruiting customs and cultural norms are always considered while developing a worldwide talent acquisition strategy. This makes it possible for the subsidiaries to make plans based on the expectations and behaviors of local talent. Furthermore, omitting to account for national diversity is permitted when developing talent recruitment and retention strategies at the national level. This permits inefficiencies and operational gaps. You can even decide to use agencies for recruiting outsourcing.
Do you find it difficult to create a worldwide talent acquisition strategy?
Developing a worldwide talent acquisition plan requires a lot of work and sleepless hours, much like completing an assignment for your school’s tough instructor. It also needs to be data-driven. It’s the same as throwing a dart on a map and hiring from anywhere it lands if it doesn’t.
These are some typical obstacles that multinational companies must consider while developing a worldwide employment strategy.
- Global employers occasionally lack international experience.
The senior management of startups and small enterprises operating in rapidly expanding areas might not possess the necessary skills to make decisive and audacious judgments when devising a worldwide hiring and selection process.
A deficiency of experience results in vast gaps in one’s grasp of regional customs and workplace practices in international marketplaces.
- Do you need a pipeline for talent management?
Global firms prefer to educate internal staff members to take on duties in new markets, according to a survey by EY. Five percent of CEOs feel that to close talent gaps; they must move and educate internal staff members because there are insufficient graduates with the necessary skills to manage multinational and cross-cultural teams.
- Have you given the selected market any thought?
Before developing a worldwide talent acquisition strategy, multinational corporations should thoroughly investigate the market of choice for labor regulations, economic stability, and political stability. A key component of developing your international recruitment strategy is conducting market research. The idea of doing financial, legal, and employee behavior research, however, paints several companies.
- How well-aligned are your internal teams with top management?
Every HR department, recruiter, supervisor, and other stakeholder should be in line with the company’s worldwide expansion objectives if your international recruitment plans have a strategy. But the expectation in the Himalayas is for these cultural shifts to happen on their own.
Leading International Talent Acquisition Techniques
Multinational organizations must understand several subtleties to create a solid worldwide talent acquisition strategy. Here are some tactics to broaden your pool of international talent.
Consider the concept of employer branding
In the world of HR, employer branding is the newest buzzword. Many marketing concepts, like branding, market research, and targeting, are borrowed into the recruitment process. Maintenance of review sites like Glassdoor is a critical component of worldwide employer branding. According to a BLR study released in 2015 by HR Daily Advisor, 86% of American women and 70% of American men would not work for a company with unfavorable ratings. This highlights the significance of branding in the global talent acquisition process.
Furthermore, by 2030, millennials will make up over 40% of the workforce; therefore, future global employers will need to be social media aware to cater to this age, which prioritizes mobile devices and Google searches. 48% of Boomers, 54% of Gen-Xers, and 68% of Millennials said they would visit an employer’s social media pages, especially to assess the company’s brand.
Starbucks is an intriguing illustration of a multinational company with a strong employer brand. The multinational chain of coffee shops refers to its 33,000 workers as partners. The company also maintains specialized social media profiles to create a community of active and passive job seekers. In addition to showcasing their advantages for employees, the business congratulates graduates working in their stores.
You need to foster positive perceptions of the work culture you have established to draw in top talent from across the globe. Employer branding is an effective global acquisition strategy to take into account.
Understanding the KPIs you must monitor while creating a global talent strategy is also essential. They could be:
- Social media and professional network followers
- Applications and professions of interest are registered on the careers website.
- campaign metrics for hiring
- Website analytics
- The caliber of the candidate
Has your international hiring plan taken into account any alternative work arrangements?
A global talent acquisition plan would be insufficient if it did not consider the new standard of contemporary employment agreements. It’s crucial to consider the expectations of several hundred Gen Z and millennial prospects from various local marketplaces regarding the workplace.
Making plans for full-time remote employment is obvious. When considering effective management strategies for a remote workforce, remember that 1 in 2 employees said they would not return to full-time office work.
This suggests using flexible freelancers and contractors for various short-term, one-time tasks. Specifically, a global people plan will require you to select and retain employees in volatile markets. In addition to being a “moving annoyance of a target,” uncertainty bears the burden of the information vacuum.
A prudent global HR strategy would also consider recruiting contractors in these circumstances. 32% of businesses move from full-time employees to contract labor to save money. The main reason for this is that their flexible work schedules considerably relax you in a strange foreign land.
Another advantage is their vast expertise working with global corporations such as yours can bring new ideas and viewpoints to the local markets.
Establish an internal global talent pool.
A talent pool can be conceptualized as an archive containing all the profiles of individuals who have expressed interest in applying to work for a company. Consequently, planning for a talent pool ensures a more favorable prospect than reaching out to someone who needs to know your business’s goals.
When businesses expand globally, global recruiters offer a diverse pool of applicants. Using a global acquisition strategy, you may plan locally and gain access to a talent pool of candidates who will complement your diversity goals with their vibrant cross-cultural mix.
Hiring from a global talent pool will expedite the process. An organization can use one of these skills from the talent database to fill a crucial role. Thus, an internal global management talent pool is a potential pipeline for worldwide leadership.
Why a Data-driven strategy can improve Global Talent Acquisition plans
A data-driven strategy improves company strategies by utilizing information obtained and directed through various sources. This is true for a global strategy to talent acquisition as well.
By employing a data-driven approach, a multinational employer achieves the following two objectives:
- Ignores academic credentials, resumes, and certifications
- Make decisions based on a candidate’s tenure, efficiency, loyalty, and cultural and skill fit.
While data analytics is one of the most in-demand skills of the 21st century, recruiters and HR directors are marketing “Data Analytics” as a necessary ability on LinkedIn at a 242% increase. Therefore, a multinational corporation must not worry about running out of personnel to create a data-driven worldwide talent acquisition plan.
Using data in your global hiring and selection process has many benefits. By putting behavior above grades on paper, you can identify potential in countries where formal graduate degrees are rare. Eventually, you’ll start looking for performance metrics.
Secondly, a data-driven approach helps a multinational employer lessen its cognitive biases. Our preconceived notions will influence our recruiting decisions when hiring takes place internationally. There have been numerous instances where gut feeling or cognitive bias led to selecting one exceptionally talented applicant over another.
Do you (acquisition) hire people from all around the world for your company?
The HR industry has also used an acquisition funnel as a marketing strategy. You can split the hiring process into four distinct parts by building an international talent acquisition funnel. With this perspective, you can collect data at all levels and optimize the candidate experience overall.
- Awareness: As a global boss, you need to increase awareness of your employer brand to draw in applicants from different areas. You can accomplish this by consistently posting messages on the internet, blogs, electronic newsletters, and events you organize or sponsor.
- Education: Explain to potential employees the benefits of working for your company after you have effectively reached your intended demographic and attracted significant viewers.
- Considering: Potential employees may start enquiring about your company as you generate interest. They would seek out firsthand accounts of employee experiences from people who work for your company. If they think what you say is fascinating, they will be eager to sign up for the position or internship.
- Making Decisions: Candidates who enjoy hearing what they learn about the company from your employees and who have not received a response from the recruiting managers might be found in this stage of the funnel.
Takeaway:
Can outsourcing your global employment needs benefit your company?
One of the highly reputed Global Employment companies ‘Soundlines,’ provides fully integrated international talent resourcing and outsourcing services to clients. Additionally, Soundlines serves both blue-collar and white-collar recruitment in varied industries, making the search for the best recruit more defined and successful every time.
Soundlines has offices in 23+ countries to facilitate the recruitment process for both employers and candidates. Soundlines offers organizations access to its global experience while maintaining a local presence, ensuring that it understands your brand, culture, needs, and future goals.
Soundlines has served clients in the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, Poland, Russia, Iraq, Serbia, and Romania as a global HR recruitment industry leader for over two decades.
