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The Talent Shortage Myth: 3 Common Misconceptions

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A lot has changed during the last couple of decades. The birth of the user-friendly internet, platform economies, and a pandemic have more than dramatically changed our relationship with our jobs, but also how we think about the world overall.

A myth has emerged from these turbulent times, a tale that seems almost to be true: There’s nearly no talent left in today’s job market to fill the many roles left vacant following the pandemic. And although some trends lead us to think this way, such as the “Great Resignation,” it is time to change this narrative around today’s remote-friendly business landscape.

The world is full of talented professionals eager to join purpose-driven companies. Here, we will touch upon this and some of the common misconceptions around the talent shortage.

1. Professionals are no longer willing to work

According to the Bureau of Labor Statistics, 24 million Americans left their jobs between April and September of 2021. Many employees are resigning, and there is plenty of news and memes that show job placements where there is no apparent interest.

Beyond the data, most of us have heard that employees are “quitting left and right.” While this is true in certain locations, the reason behind resigning is not an unwillingness to work.

Recent years have dramatically changed people’s view of the world. Many found themselves re-examining what they wanted from their lives, their priorities, and how their job fit within that equation. That led employees who could not find work-life balance at their current position to leave and seek a new company where they could thrive beyond work.

Employees are looking for companies that care about their wellbeing and provide benefits and perks that align with their values and the life they want to live. Employees are simply no longer willing to accept roles that require long hours and the constant sacrifice of personal goals over professional ambition.

2. The shortage of talent is everywhere

While talent may be scarce for some sectors and industries, companies everywhere must keep in mind that finding talent beyond the local market is an excellent option in a hyperconnected economy. For example, your company might hire primarily in specific cities — locations that may currently lack talent with the skills you need — but talent hubs worldwide are booming with highly skilled professionals.

Currently, some of the most predominant talent hubs are Mexico City, Toronto, Colombo, Singapore, and Berlin, where professionals are eager to join organizations that promote work-life balance and wellbeing.

Looking beyond borders and developing the ability to build global teams is the new competitive edge that allows brands to grow exponentially. However, before companies can hire internationally, they must establish effective remote work cultures, processes, and having the right tech stack to support remote-first productivity.

Massive organizations, such as Microsoft and Google, have asked some of their employees to work from home with incredibly positive results. Likewise, Twitter embraced and adapted to remote work so successfully that it claimed some of its workers would have the ability to work remotely forever.

There are skilled engineers, software developers, business analysts, sales experts, customer service gurus – every skill a company could want – waiting just beyond borders. The challenge is to restructure a once local recruitment strategy to find talent on a global scale, and for companies to learn from organizations like Microsoft and Google to become remote-ready with eye-catching opportunities for candidates.

3. Hiring internationally is expensive and time-consuming

Hiring in different geographies can indeed be costly, time-consuming, and a legal burden if done solo. However, companies can bypass hiring difficulties in other countries by partnering with a global employment platform that manages legal entity setup.

Local tax and labor laws can be complex without the legal support to navigate, and although it may seem daunting, you can rest assured this will no longer be a concern when you leverage Globalization Partners’ technology. Our end-to-end global employment platform tackles all critical aspects of talent acquisition and retention.

With our platform, you can:

  • Hire, onboard, and manage employees from a single platform: Our intuitive, easy-to-use technology allows customers to perform in near real time what used to take weeks or months, by navigating through simple selection menus that are localized to each region and use case.
  • Access worldwide entities and partners: Our platform is built on top of the industry’s most robust global legal infrastructure — a product of working with local tax, legal, and compliance experts in 187 countries for nearly a decade.
  • Leverage in-house experts across the entire recruitment and hiring processes: While most questions can be addressed by AI, giving you real-time access to information 24/7, we also have a team of global HR experts that addresses more nuanced questions, anywhere in the world.

We help prepare companies for the future of HR, today. Book a demo to learn more about our global employment platform and how to expand your workforce globally.

The Guide to Finding Global Talent

 

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