The Rise of Global Talent Search
What are the main advantages and disadvantages of making the search for talent a worldwide one?
Logically, performing a global search multiplies the available talent and candidates who meet the job requirements. But the main advantage of undertaking a global selection process is having access to a more diverse pool of professionals, not only in terms of experience and qualifications, but also from a cultural point of view.
What are the key considerations in casting your recruitment net more widely?
Searching globally opens the door to new, non-local leadership styles, perspectives and ways to meet business challenges, which enriches the organisation in today’s global markets.
Conversely, there are also challenges as the process introduces the logistical issues of time differences and videoconferencing, and additional costs and procedures, such as visa, travel and transportation costs.
Another factor is the need to have a good understanding of the cultural differences of the candidates set against the backgrounds of the actual interviewers, and then the hiring manager, which can be difficult.
Finally, because relocation can be a huge life change, there is also greater risk that candidates will change their minds at the last minute because of the challenge, personally and for their families, of adapting to the new location or because the non-salary elements of the contract do not meet their expectations. This, of course, can have a direct impact on company productivity.
What are the most effective tools for attracting talent internationally?
While online tools, such as professional networks and refer-a-friend schemes for existing employees can play a role, global executive search firms are truly equipped to provide multichannel combining sourcing solutions with the individual assessment of performance and potential.
Whatever channels are used, attracting talent internationally will rely on a strong and relevant employer brand. This in turn relies on being known as a truly ‘great place to work’ for international talent, providing attractive policies such as on compensation, flexibility, diversity and inclusion, and demonstrating other key characteristics that global talent will expect to find in global brands.
How has the importance of incorporating ‘non-local’ talent evolved?
The so-called war for talent is a global war, though it is of course more aggressive in certain regions and cities, and some sectors, including IT, digital and regulatory control and compliance. A company wanting to engage in this battle has to do so globally.
Many companies are evolving their concept of ‘diversity’. The definition of diversity now includes aspects such as international experience, having a multicultural outlook or experience in different sectors. These changes in perspective are making companies more inclined to incorporate non-local talent.
How is digitalisation changing recruitment?
In-house human resources departments become more sophisticated. Similarly to recruiters, they experience the impact that technology has on their internal processes. With more HR processes being automated, the HR department is freed from administrative procedures, allowing them to focus on more effective talent management and retention programmes. While talent management has always been part of HR’s responsibilities, a combination of demographics and market forces has moved the topic higher up the agenda.
The HR function is becoming increasingly responsible for social media communication, reinforcing the employer brand, diversifying and publishing the different employee value propositions, and reaching out to new talent sources to recruit more diversely in the war for talent. This is being achieved by incorporating social media as an integral part of recruitment strategies, creating digital profiles based on online behaviour to help target talent and generally building a stronger online presence.
How do demographics affect recruitment?
Where employees in the past switched infrequently between jobs, turnover has increased significantly as a younger generation of employees has entered the labour market.
HR departments are now challenged to find ways to retain talent within the business. However, given today’s higher turnover rates, demand for talent has increased, with a corresponding shortage of talent in specific areas. As a result, there has been a rise in demand for outsourcing of recruitment to agencies, especially in executive recruitment.
- Recruiting globally is an opportunity to enrich the organisation with different leadership styles and experience
- Having a strong, internationally recognised brand gives the edge in attracting global talent
- The war for talent is now a global war, with companies embracing the concept of ‘diversity’
- Employee retention has become more challenging as a younger, more mobile generation enters the job market