Global Hiring. A Strategy for Scaleups to Boost Growth [part 1]
The Netherlands is home to many scaleups looking to grow, which is only possible when they hire the right talent. But the fierce talent competition makes it difficult for scaleups to attract and retain the best employees.
One often overlooked solution is for scaleups to implement a successful global hiring strategy that is cost-time effective. Want to learn how to find the right talent and build international teams quickly and within budget? Continue reading.
Think outside the box
Don’t get stuck in the growth process. A critical factor that sets apart successful scaleups from those that struggle is access to a wide talent pool, especially when the current job market in the Netherlands is tight. In mid-2022 there were 143 vacancies per 100 unemployed people in the Netherlands (CBS National Statistics).
Vacancies open by professional fields
This means that local tech candidates are currently landing more than one job offer, and the most talented ones may receive even three or more proposals. The chances for this candidate to choose a company with a more significant market share and above-average salary are high.
This is when exploring innovative ways of hiring talent from different countries is necessary. Not only will you bring new skills and diverse perspectives to your team, but also new networks and potential business opportunities. Easier said than done? Let’s explore the benefits.
Gain access to a wide talent pool
Finding a local senior full-stack software developer, an IT healthcare specialist, or a senior mechanical engineer can take up to six months or longer. Even in the best-case scenario, when a candidate accepts the offer, chances are they will change jobs earlier than expected.
The Netherlands is not only struggling with a labor shortage but also a so-called small Great Resignation that has caused almost 1.5 million job changes in the past six months. That is about 1 in 5 local employees in the Netherlands switching jobs, according to the latest UWV report.
Gaining access to a vast talent pool will allow your scaleup to interview top candidates within a week, get a work visa approved in just 4 days and onboard your international hire in less time than expected.
Reduce Hiring Time and Costs
Global hiring is a time-saving strategy that can effectively lower the cost per hire. If wondering how fast it can happen, YTA’S data shows that it’s possible to relocate internationals to the Netherlands in as fast as 4 weeks. Faster interviewing processes, quicker hiring times and a low turnover rate can go a long way towards your main goal: filling your vacancies with top talent, but also retain this talent for the long term.
Anthony Seger, Head of Recruitment of YTA, states that it is true that when considering relocation costs, we also need to consider factors such as immigration fees, the number of accompanying people and pets, and the relocation package’s perks. However, these costs are worth because most of the
YTA has already helped hire and relocate around 1,000 international people from more than 50 different countries to the Netherlands; From getting a visa to getting a house lease and a BSN or social number, YTA is here to help you scale up.
In a nutshell…
The benefits of global hiring surpass the costs of long waiting times for top local candidates. In our next article, we will show you how other Dutch-based companies have successfully filled their vacancies through global hiring and the benefits it has brought for their growth.
Learn all about different types of recruitment and how international hiring can help you create an inclusive and diverse workforce that boosts your growth. Download the whitepaper “Global Hiring 2023”.