What is Global Talent Acquisition in 2023? | INS Global
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What is Global Talent Acquisition in 2023?

What is Global Talent Acquisition in 2023?

May 31, 2022

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Key Takeaways

  1. Understanding the local job market is crucial to finding the best talent in key markets.
  2. In regions with no legally mandated minimum wage, it’s essential to understand best practices.
  3. Many companies offer severance packages with generous benefits to persuade employees to resign voluntarily rather than terminate them.
Summary

Today’s world of remote work and video conferencing as the norm mean that recruitment searches are no longer limited by geography. Now, your recruitment can benefit from a global talent acquisition strategy that sees distance as a benefit, not a challenge.

However, it can take some flexibility and adaptation to make the most of the modern global market. Below, we go through some of the critical processes and benefits of focusing on this aspect of your HR. Finally, we also suggest how you can streamline your strategy via a recruitment agency or EOR (Employer of Record) services.

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how to deal with global talent acquisition

The Best Strategies to Hire Global Talent

Understand the Local Job Market 

Knowing where and how to find the right talent depends on understanding the intricacies of your target markets. Best practices are specific to the country or region. So the kind of platforms you’ll use to search for talent will depend on the level of technology or education available.

This knowledge will affect whether you focus on online or offline strategies. In addition, it changes whether you make the most of traditional recruitment techniques or get involved in new local platforms. Finally, it also tells you if you will require support in the area.

Adapt Your Search

Knowing about the job market you’ll be searching in will mean adapting your recruitment strategies to make the most impact. If you are a company that deals mainly in English, will you post jobs in English or need them translated?

Suppose the local market is full of younger job seekers. Are you making the most of social media or important modern connection methods? Is the job you post going to be offensive or problematic for local cultures. If so, what will you have to do to remedy the situation?

These questions require you to use the information from your initial market research and be flexible. In these cases, a local partner or recruitment agency in the markets you’re targeting can fill in many of these blanks.

Refine Your Processes

Once you find the right way to target a new market, you’ll have to keep up-to-date with changes as they come. So, this means you’ll have to be more watchful than ever. In fact, the effort needs here balloons with the number of places you are operating in.

A solid global talent acquisition strategy requires you to be proactive and be aware of new interview best practices and potential compliance delays worldwide. Additionally, you can stay on top of this by making sure there are people on your team with the expertise and experience you’ll need going forward.

Hiring Checklist to Improve Your Recruitment Process

What is Global Talent Acquisition? | INS Global

5 Benefits of Hiring Global Talent

Lower Costs of Offering Competitive Salaries

Lower living costs and different salary expectations mean that companies can save on overheads while still offering a competitive salary. In fact, overseas employees can receive a generous contract and employee benefits package if your acquisition strategies are focused on less developed countries.

Varied Skills and Complementary Problem Solving 

A globalized talent search provides access to a comprehensive range of skills and experiences in the top talent you find. In fact, a diverse workforce of international employees will provide your staff with opportunities to work with people from other cultures. In this way, alternative ways of thinking generally improve problem-solving abilities across the board.

Globalized Service

Being able to offer 24-hour coverage for your products or services to clients worldwide can be a massive benefit to a company’s value.

In today’s global market, traditional ideas of work hours are declining. As a result, those who can offer customer support in any time zone will naturally have an advantage.

Better Market Entry Options

Thinking globally in terms of recruitment can give companies a competitive edge in new markets. In particular, this includes advantages that they might otherwise be lacking as an outsider.

Hiring overseas gives valuable local insight into the support available in new markets. Afterward, a company can sustain itself through an employee’s own networks and business resources.

Flexibility

A global talent acquisition strategy gives companies international flexibility. This can be used to pursue a new range of opportunities by bringing workers to where those opportunities arise.

Companies make use of employment outsourcing services to avoid the necessity for new entities in foreign countries. So this improvement to the ability to hire and operate in multiple target markets is crucial for ease of entry.

What is Global Talent Acquisition in 2023?

Why Have an Employer of Record (EOR) Partner Help You Find the Best Global Talent in 2023?

International Employment can quickly become a problematic expense. This is particularly true if you want to explore every option and squeeze the most out of every global talent pool. Furthermore, it can be expensive to find the best talent and reduce compliance risks abroad.

This is why it can be a huge help to client companies wishing to recruit overseas to look for a global EOR (Employer of Record) partner. This partner can streamline the process and take care of day-to-day challenges.

A global Employer of Record or international PEO (Professional Employer Organization) is a kind of third-party co-employment company. They provide all of the HR functions and labor law knowledge you need to ensure legal employment. Your overseas employees will have what they need to begin their operations immediately. This is without setting up a separate presence in their home country.

EORs provide a legal entity, payroll, invoicing, leave and benefits management. In addition, they may even function as a recruitment agency to provide recruitment process outsourcing (RPO). This can ensure you and your global employees are covered with efficient Human Resources systems and total global compliance assurance.

An EOR service provider like INS Global uses established local online and offline talent pools. Meanwhile, they streamline the onboarding process to get you started quickly and safely.

EORs are often experts on local business and labor regulations, meaning you’re covered in terms of any unfamiliar requirements or changes that can occur without warning.

Global PEO

Who is INS Global?

INS Global is a recruitment and global employment services provider with solutions available in over 80 countries worldwide. Our global expansion experts help you find the perfect overseas team member.

We can ensure you can hire, onboard, and offer payroll processes for your new employees accurately and on time. Additionally, we protect you from the costs of global expansion and fines associated with compliance errors.

Contact our team today to learn more about our global talent acquisition services.

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