Global mobility is growing in popularity for companies that want to increase their talent pool and gain access to the global workforce. However, the competition for talent increases as more companies embrace this practice, and HR departments need to incorporate the strategies that other companies are using when going global.
The latest HR trends in global mobility not only show us how companies are evolving in the global marketplace but also what it takes to attract the best candidates in any market.
HR Trends on Global Mobility: Digital Transformation
The digital age has effectively disrupted how companies do business. Industries like media and retail have gone through a complete overhaul in order to meet the changing needs and demands of their audiences. Now, it’s time for HR to do the same.
According to a recent article by Forbes, the best way for HR departments to capitalize on the digital age and better engage with prospective hires is by applying a consumer lens to their approach to sourcing talent. This means personalizing a company’s messaging when engaging with candidates and incorporating social media into the company’s HR strategy. Social media is no longer just for marketers and has proven itself as a valuable recruiting tool for companies that want to showcase their unique culture to potential employees.
Along with social media, the digital age is all about learning. From learning new tech tools that can help streamline processes to discovering new ways to market open positions, HR departments that want to thrive in the digital age need to develop a culture of learning. This will help encourage companies to stay on top of the latest trends and tools, rather than just reacting to them.
Once HR departments create a habit of learning and adapting to the digital age, they can better attract and retain top talent.
HR Trends on Global Mobility: Talent Acquisition
A recent study on global human capital trends by Deloitte states that eight in ten executives believe talent acquisition is a very important aspect of success. As companies strive for global mobility, they need to develop a plan for talent acquisition that helps them achieve their growth goals in new markets.
Along with improving their digital presence, companies need to adapt their processes in order to create a positive experience for the candidate. Beginning with their first interaction with a company, prospective employees need to know they are heard and valued. This includes responding to every application and following up with communications after interviews, even if it means giving bad news.
In addition to creating a positive candidate experience, companies can begin implementing new ways to source talent. From allowing people to work remotely to embracing the benefits of short-term contracts, increasing the number of ways companies can hire employees helps ensure companies will find and secure the best candidates to help them reach their growth goals.
HR Trends on Global Mobility: Employee Engagement
The workplace is evolving and companies are putting more emphasis on employee engagement and company culture. Businesses need to work on building a company culture that enables personal and professional growth for its employees in order to improve company morale and increase employee retention. HR professionals managing a global workforce need to focus on maintaining a culture that ensures employee engagement so those in international offices feel like a true part of the team.
Focusing on employee engagement has been proven to increase productivity and happiness with one’s job. When it comes to engaging with international employees, companies need to focus on the goals, needs, and expectations of the employees and determine how they will manage those. This can be done by approaching employee well-being from a holistic standpoint – paying attention to how emotional, financial and mental aspects play into their overall job satisfaction. By making employee satisfaction and engagement the focal point of company culture, HR professionals can expect to see employee retention and performance improve.
HR Trends on Global Mobility: Foreign Requirements
As companies begin operations in new countries, the complexities of international tax requirements and employment law can become a burden for most HR professionals. Each country has its own regulations around tax requirements, compensation, benefits, time off, and more, and staying on top of the requirements is paramount for companies who plan to continue operations abroad.
However, HR professionals that want to simplify how they manage overseas tax and employment regulations can utilize an Employer of Record. This employment solution extends the reach of a company’s internal HR department to ensure compliance and oversee the well-being international employees. Additionally, a Global Employer of Record can help companies streamline the hiring process, reducing hire time by up to 90% in foreign markets while allowing HR departments to focus on their goals with global mobility and the success of their employees.
Simplify your global expansion with an Employer of Record and the experts at Velocity Global. Reach out today to see how our solution helps HR professionals across the globe ensure compliance and engagement with international employees.