In the face of growing competition for top talent, businesses must take recruitment and hiring strategies beyond borders.
The first few months of every year are a popular time for top talent to job hunt and for businesses to recruit. While we’re coming to the end of the hiring flurry for 2024, talent shortages and skills gaps continue to persist, and businesses in all industries need a competitive edge to succeed. According to the leading global mobility platform Localyze, businesses must look to the global talent pool to win the war for the best employees.
According to The World Economic Forum, top talent can be found in emerging markets such as Brazil, China, India, Indonesia, Mexico and Turkey. India’s pool of university-educated talent alone is expected to rise by more than 45 million over the next decade.
Hanna Assmussen, CEO and CO-Founder of Localyze said: “Incredible talent can be found across the globe, not just in one or two regions where organisations might have traditionally looked. One of the key ways that businesses can beat their competitors is by looking beyond borders to find the best talent. Additionally, offering global mobility is hugely attractive to both new and existing employees who may want to relocate permanently or enjoy temporary trips, such as workcations.”
Recent research* found that over half of business leaders believe that global mobility expands access to talent globally. Relocations deliver nearly double the return on their costs in the short term and can quadruple with relocated employees who stay for two years.
“Relocating talent isn’t just for senior leaders anymore. Young professionals are also looking for flexibility within their roles and often opt for opportunities that present flexible working options,” added Hanna. “As the new year hiring flurry comes to a close, organisations must embrace global mobility solutions such as temporary relocations, offsites and workcations.”
“Those embracing flexible remote work models, allowing for employment across borders, will see significant and sustainable growth in years to come. Relocating employees comes at a cost, but the benefits outweigh them by a large margin. Offering your people mobility worldwide can raise their productivity, boost company profits and attract global talent.”
Hanna concluded: “The war for talent continues to soldier on, and businesses must do more to stand out from the crowd. The adoption of global mobility facilitates access to a much wider talent pool and boosts a business’s ability to attract, retain and develop top talent on a broader scale.”
*Research from Locaylze
