Global Talent Acquisition:
Six tips for a successful strategy
With technology connecting pretty much the entire world, sourcing the right talent doesn’t have to be done locally. But successful global talent acquisition takes planning, substantial market knowledge and the ability to position the opportunities correctly.
Head of Global Expansion
So, if your company is looking to source talent globally. A refined and well researched strategy must be put in place.
Here are some tips to help you succeed in your global talent acquisition.
Have a strategic plan in place
Developing a roadmap is vital in order to help predict future trends, market risks and generally provide your business with direction. Questions you should ask when developing your plan include:
- Where do you see your business going in the next five to 10 years?
- What new markets do you wish to enter?
- What is your predicted speed of expansion and growth?
- What are the local hiring laws?
- Where do you see the best skilled talent pool is for your requirements?
Once you’ve answered these questions, you will have a more refined idea of which direction to take your global talent acquisition strategy. Acting without planning can lead to costly mistakes. Research is key.
Have a strong EVP
Conveying a strong employee brand is vital to attract and retain top talent. Candidates in your target market should get a clear idea of your business and what it stands for. This includes its culture, career opportunities, values and mission and general vibe.
When the hiring and onboarding process is often now solely virtual, it’s never been more important to have a strong and dynamic employer brand.
Ways you can improve yours include:
- A social media recruitment campaign
- Ensure your company’s social media pages convey your employer brand
- Contact local universities/jobs boards regarding promoting your positions
- Have a clear job description that conveys your company values, incentives and work culture
Know the regional job markets
Different countries have different HR, employee and labour laws and regulations. It’s important to be aware of these. Not doing so can result in a hefty fine and a damaged reputation.
Alongside laws, cultural practises differ from country to country. For example, some questions relating to family status, race and religion are considered unethical to ask in certain cultures. Not adhering to these can cause offence, and therefore restrict opportunities to attract the right talent.
If you are unsure about the laws and cultural practices in a specific country, consider hiring an expert in-country who can guide you through the process. A PEO can help you set up in-country quickly and seamlessly. Plus, they have all the relevant local knowledge to help your business maintain compliancy.
Offer competitive packages
Researching the typical benefits offered in your chosen market is important. Not offering a competitive benefits package mean you could be overlooked by top talent. According a survey, around 60% of people report that benefits and perks are a major factor in considering whether to accept a job offer.
Compensation and benefits packages expected will differ between countries. Carrying out thorough research beforehand means you’ll stand out from your competitors and find you’ll be less likely to have to negotiate to get the candidate you want.
Global talent acquisition is a complex process. Thankfully, there’s HR technology out there that can make your life easier. Tasks can be automated, keywords identified, and candidates can be screened in seconds. Technology can drastically improve efficiency in the global talent acquisition process. With AI, you can gain a deeper insight into candidate behaviour and personality, allowing you to make a better more informed choice.
Utilise data and feedback to make constant improvements. Set benchmarks and targets and consider pain points and how you might overcome these.
Metrics to help you gage success of your global talent acquisition strategy can include:
- Talent retention rate
- Social media engagement rates of your chosen target country/s
- Candidate quality
- Value added by the candidate to your business
For successful global talent acquisition, it’s important to stay up to date with local laws and regulations. By staying educated about different markets and the skills offered, you can ensure you’re targeting the right location to achieve your global talent acquisition goals.
If you need a partner to help facilitate your global expansion quickly and seamlessly, request a call back from one of our experts today.