Global Hiring. A Strategy for Scaleups to Boost Growth [part 2]
A higher incidence of rising inequality has limited the ability of some to access professional education, jobs or finance. The resulting polarization phenomenon has not only been proved to undermine the building up of the human capital needed for market growth but was also revealed to create deep concerns for employers looking for talented people with preferred qualifications.
Within this context, a key driver of organizational scale-up success may be to tap into alternate and diverse talent pools.
International Expansion Strategy
With record talent shortages in the Netherlands mostly due to a low inflow of graduates with the desired knowledge, skills, and abilities, employers should shift their focus from only hiring employees from their domestic markets. Although the talent acquisition process may seem daunting in this case, there is a strategic imperative for leadership to understand why it is essential to remove geographic biases and barriers.
By dismissing international candidates, companies might miss the opportunity to gain access to a wide talent pool, improve their overall productivity, and increase market insight. However, one often-overlooked benefit of being open to hiring international candidates is achieving workplace diversity. Despite being the first—and, in various cases, the easiest—step to eliminating the pervasive sense of otherness, bringing diverse perspectives to the table can foster an ‘open-minded’ culture within the company, which in turn, will enable proactivity and efficiency.
Maximize Operations with Diversity
People are the most valued business assets. The decision to hire international talent should be informed by how leadership facilitates conversations that cultivate an understanding of cultural differences. The provision of a diverse and thriving workplace where individuals are given equal opportunities, feel empowered to make their voices heard, and leadership values all opinions, regardless of any difference, solves the attrition and attraction problem on the longer term.
Go on an Overseas Hiring Cruise
One of the companies that recruited international talent and accelerated progress towards an inclusive culture is the online retailer bol.com. The company chose Your Talent Agency to refine the quality of hire. As a result of the partnership, bol.com found numerous international talents and made the first step towards building a diverse environment in which new hires feel trusted, empowered, and valued. From the moment the employment contract between bol.com and the prospective candidates was signed, Your Talent Agency oversaw the recruitment and relocation process.
Monitoring Diversity & Inclusion Efforts
Once a diverse team has been hired and set up in place, companies can successfully track the success of becoming more global in scope through key metrics, such as team engagement surveys or the ratio of diversity. On a more practical level, a company can implement a series of supplementary measures against low rates of ethnic diversity. Accordingly, they might:
- Build a baseline measure for evaluating the employee attrition rate;
- Analyse the percentage of underrepresented employees;
- Examine the gender, race, and age ratio at each level of seniority.
By sharing effective practices and giving space for feedback, companies can constantly optimize internal and external development and open paths for diverse patterns of expression.
Assess Your Hiring Strategy
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”.