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Going global it’s a milestone that often goes unaccomplished due to the grand scale of changes associated with expanding a business and the unknown fear of new financial risks and legal hurdles. Carving a local presence in targeted locations across the globe is an ambitious project, but essential to company growth.
To ensure you company thrives in a location outside of where you’ve established your HQ, you will need to build a diverse workforce with meticulous knowledge of local business landscapes, legislation, and regulations. This is achievable if your global growth journey is championed by a committed and receptive individual or team, with the expertise to navigate risks in a new environment.
Purpose-built technology can also provide a suitable vehicle through which to onboard international candidates and run fully compliant global payroll. An international workforce is essential to expediting company growth and successful new market entry. The fear of the unknown – it’s a hurdle that often restricts businesses from hiring global teams and fulfilling burgeoning international demand. Here’s why it’s essential to establish an international workforce:
Broaden your talent acquisition strategy
If you’re on the search for an individual with unique talents or a worker with niche skills or specialties, widen the scope for potential candidates. Tear down self-imposed border restrictions and access the international talent pool to take your company global and diversify your workforce.
A company that markets itself as a diverse employer must open itself to different cultures, ideologies, and norms by embracing the individuals that it employs. This can enrich work culture and work as a selling point to attract new customers
The key question is, if your business has no launchpad into the global talent pool, how can it build a global workforce?
Adopt technology to build and manage a global workforce
Hiring internationally often comes with a host of trials and tribulations as it requires a thorough understanding of the laws established in the host country. This includes having up-to-date knowledge of labor laws, employment regulations, tax legislation, and cross-border compliance. You also need to be able to remotely manage your global workforce; it’s a long-term commitment.
AI-driven global employment platforms are available to help you seamlessly onboard teammates in other countries. From hiring global talent to managing compliance and running payroll, the right global employment platform provider can help you break into new markets and establish a local presence anywhere in the world.
Remote working – make what was once impossible, possible
LinkedIn’s Global Talent Trends survey dubbed 2022 a “watershed moment for company culture” as the “Great Resignation” triggered by Covid-19 made its mark. The pandemic sparked a wave of mass resignations across the globe as employees reconsidered their career goals, life values, and priorities in the professional world, such as work-life flexibility and benefits that support this.
LinkedIn CEO, Ryan Roslansky, said: “Business leaders are rethinking their entire working models, cultures, and company values. Employees are rethinking not just how they work, but why.”
LinkedIn members posted more about these key topics in 2021, compared to before the pandemic in 2019:
- Flexible work – 362% increase
- Wellbeing – 35% increase
- Company culture – 15% increase
The term “flexible work” was mentioned by LinkedIn users nearly four times more than before the pandemic. Thanks to the introduction of remote working, hybrid working, and working from home during the Covid-19 pandemic, more employers are starting to implement flexible working policies permanently.
As remote working becomes the new norm, this opens the gateway for more companies to recruit internationally and sustain the practice with the help of intelligent AI-driven technology.
For more information, contact Globalization Partners to learn how their Global Employment Platform™ can help you find the best global talent, to power your growing business.
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About the author:
Keith Tully is a partner at Real Business Rescue, a company rescue and insolvency firm supporting company directors in financial distress. Keith regularly advises business owners on how to upkeep company finances and alternative finance options to facilitate company growth. You can find Keith Tully on Facebook and on Twitter.