A recent report from Globalization Partners finds that 79% of employees are interested in working for an international company, but nearly half question whether their company is ready for that level of expansion.
By Richa Gupta
This year has proven challenging for employment and hiring. While the job market is strong in many industries and regions, companies still find themselves struggling when looking for skilled talent in their market. Despite a solid contingent of employees looking for new roles, companies may be lacking in the opportunities, benefits and global presence that these job seekers desire. While the new normal of distributed workforces and hybrid work is beneficial for employee work-life balance, many companies are still struggling to support global teams and new working models, and it’s impacting their recruiting efforts.
In G-P’s new 2023 Global Growth Report, 79% of employees express interest in working for a global company, and this number rises to 88% among those actively seeking new job opportunities. However, 49% of employees also say they question if their company is ready to go global, indicating a disconnect between employees’ aspirations and companies’ communication and implementation of global work strategies.
Key findings from the study show that global growth is the key to attracting new talent and making it easier for teams to hire for important positions. When considering global growth initiatives, executives should consider the following insights from the report.
- Tap into global hiring to address talent shortages. More than three-quarters (77%) of executives say it’s challenging to find skilled talent in their markets. Consequently, 75% of HR executives plan to hire employees in other countries to meet their talent needs. Expanding into new regions allows businesses to access larger pools of qualified candidates.
- Find non-traditional solutions to address talent gaps. In addition to global hiring, executives are considering reskilling their existing workforce, offering higher salaries and recruiting individuals with non-traditional backgrounds as alternative strategies to fill talent gaps.
- Adopt a global mindset. Nearly half (47%) of employees perceive global organizations as better at attracting top talent, with 42% of employers sharing this sentiment. Adopting a global mindset not only expands professional networks but also leads to more qualified job applicants and increased employee satisfaction.
- Invest in career growth opportunities. Approximately 88% of global employees believe that working for a company with international hiring practices offers greater career growth opportunities. This approach allows organizations to match employees with managers based on compatibility rather than geographical constraints.
As leaders and HR professionals look to hire the best possible talent for their organizations, the companies that embrace global work, invest in technology and offer flexibility to their employees are more likely to attract and retain top talent worldwide. As the world becomes more interconnected, seizing the opportunities presented by a global workforce is essential for sustainable growth and success in today’s evolving business landscape.
Richa Gupta is chief human resources officer of Globalization Partners.