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Key Benefits and Strategies for Global Hiring Today

CultureInternational Hiring
Key Benefits And Strategies For Global Hiring

As technology advances, more companies are gaining access to global talent, making it increasingly possible to create diverse teams and leverage the many advantages that follow. The impact of this global hiring trend has also created new opportunities for job seekers, increased competition in the job market, and helped many employers address local talent shortages and skills gaps.

As global growth experts with over a decade of experience making global hiring and compliance easy, we’ve gathered some top strategies and best practices to help you achieve more success as you build your global teams.

Benefits of hiring globally

Global hiring offers numerous advantages, such as:

  • Greater access to a diverse talent pool.
  • Faster, more flexible market expansion.
  • Increased opportunity for innovation.

Access to a diverse talent pool

Global hiring allows companies to expand their talent pool beyond their local market and tap into a more diverse range of skills and experiences. Global team members can play a crucial role in bridging cultural and language barriers when doing business globally, and their knowledge and understanding of different cultures and languages can be invaluable.

Global market expansion

Hiring employees from different countries can facilitate access to new markets and expand their customer base. International employees can provide local insights and knowledge to help companies navigate cultural differences and create more effective strategies for succeeding in today’s interconnected global marketplace. 

Increased opportunity for innovation

Companies with a dynamic global workforce can leverage their different ideas, experiences, and market knowledge to close strategy gaps, tackle challenges, and identify new opportunities for improvement. Global employees can provide insights and perspectives that may not be readily available within the company’s local workforce, which can help ensure seamless business operations and approaches to company challenges.

Strategies for successful global hiring

To successfully hire and manage a global team, organizations must be ready to meet these challenges and may want to consider working with a partner like G-P to help with key parts of the process: 

  • Developing a global talent acquisition strategy.
  • Creating a global HR policy.
  • Managing local labor laws and compliance regulations.
  • Updating or upgrading current technology.
  • Providing training and development opportunities.

Developing a global talent acquisition strategy 

Organizations must have a well-rounded talent acquisition strategy to attract the best professionals worldwide. Start by identifying target countries and regions and tailoring the organization’s branding and messaging to the local culture. Companies should also ensure their recruitment process aligns with local laws and regulations. 

Creating an global HR policy

Crafting an global l HR policy is essential for multinational companies to ensure consistency in their HR practices across all locations. Moreover, a well-designed global HR policy should address the unique needs of global employees, including immigration and visa requirements, tax regulations, benefits administration, and policies catering to language and cultural training. 

When creating a policy, consider cultural differences and comply with local labor laws and regulations to ensure equitable treatment of all employees. By offering comprehensive support and clear workplace policies, companies will make their global employees feel valued within an inclusive workplace culture. This is key, as research cited by LinkedIn shows an inclusive work environment can lead to 22% lower turnover rates and 83% higher engagement.

Managing local labor laws and compliance 

Organizations must also ensure proper research and due diligence as they enter new markets, which is where having a partner helps most. Your legal and HR teams need to know that the legal framework of the local workforce complies, all required permits and licenses have been completed, and your HR policies align with country-specific regulations. This can be tricky, so consider hiring a compliance specialist or utilizing global recruitment tools to research labor laws in your company’s different markets.

Ensure that your HR team understands the legal framework of the local workforce, obtains the required permits and licenses, and that the organization’s HR policies align with country-specific regulations. 

Updating or upgrading current technology 

Companies hiring international talent can use global employment technology to streamline administrative and legal tasks. Remote work and cross-border communication technology, such as video conferencing software, collaboration tools, and virtual project management platforms, can help employees feel connected to their teams. Leveraging these technologies can also enhance the employee experience for international team members, leading to long-term success in the global marketplace.

Providing training and development opportunities

According to the G-P’s 2023 Global Growth Report, 41% of candidates believe global teams offer more chances to acquire new skills. Organizations can remain competitive by providing ongoing development opportunities, including training on policies and procedures, mentorship programs, leadership training, and skills development courses to help their employees succeed in their roles and build a more diverse workforce. Language and cultural training are also crucial to help employees feel more comfortable and confident in their new environment, leading to greater productivity and job satisfaction.

Best practices for building a global team

Building a global team requires a different approach than managing a domestic team. To be successful, organizations should:

  • Close the culture gap.
  • Rely on the experts.
  • Be adaptable.
  • Communicate regularly.

Close the culture gap.

Companies that want to build global teams must prioritize empathetic leadership that takes the time to understand their employees’ unique needs and challenges. Companies should also foster a culture of understanding and empathy to encourage inclusivity and diversity. 

Rely on the experts.

When hiring talent globally, companies should rely on expert HR and legal teams who understand the local market, culture, and language. These experts can help companies navigate the complexities of global hiring and ensure compliance with local regulations.

Be adaptable.

Global teams, who work remotely and travel frequently, require companies to have a clear and flexible global mobility plan. Companies must understand the applicable visa and labor laws, which vary from country to country and change regularly. They should also be prepared to adjust to these changes in every country they hire in to avoid facing serious consequences and fines. 

Additionally, companies need to embrace the benefits of new technologies, such as AI, and build their operations around them to navigate the challenges that come with it. This is especially important for global teams, as they rely heavily on technology.

Communicate regularly.

Effective communication is important for building an international team and fostering a collaborative and productive work environment. In fact, recent research shows that in the U.S. alone, miscommunication costs businesses an estimated USD 12,506 per employee annually. Companies should strive to provide their employees with access to the necessary communication tools and encourage open, transparent, and respectful communication at all levels of the organization. 

It is essential to establish a communication plan that considers the needs of all team members, including those who speak different languages or work in different time zones. Clear communication can help prevent misunderstandings, increase efficiency, and build trust among team members. 

Streamline global hiring with G-P.

Global hiring is a critical component of the future of work, and organizations that are equipped to successfully navigate the challenges and embrace the opportunities will be well-positioned to thrive in a rapidly changing global economy. 

With G-P, you can put your time and focus into building successful global teams that drive innovation and growth. While you take steps like developing a comprehensive global hiring strategy, investing in technology and training, and building a culture of empathy and adaptability, we’ll take care of the HR and legal tasks that often become hurdles to going global. With our industry-leading Global Growth Platform™, you can find, hire, and manage your teams in 180+ countries, starting in just minutes.

For insights and best practices on building and managing a successful international team, download our new 2023 Global Growth Report, or request a proposal today to learn more about how G-P can help you hire your ideal talent.

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