The talent acquisition landscape is evolving day by day, minute-by-minute. While it’s difficult to stay ahead of the curve, being armed with the right information and tools can help TA professionals lead with confidence.
Hudson Talent Solutions Chief Administrative Officer Jeff Bettinger recently had an engaging conversation with Everest Group Practice Director Lokesh Goyal on the criticality of agile global workforce strategies while being mindful of local nuances – a term we like to use is “Glocalization.”
Beyond Cost Savings: The Benefits of Globalization
Bettinger points out that the benefits of global expansion go beyond cost saving to achieving greater innovation, resilience and speed to market. And while there are significant advantages to becoming more global, it’s critical that expansion is well planned and informed by data, such as Talent Analytics, to help determine where best to establish centers of expertise that have access to the needed talent and resources. Planning ahead for future workforce needs by diversifying talent acquisition strategies helps ensure organizations can get the talent they need and at the scale that works for their organization.
Attracting and Retaining Top Talent
And even though there are new technologies and services being continually introduced, TA leaders still struggle with attracting and keeping top talent across key geographies. Key strategies include creating both streamlined processes and an effective employer brand that focus on resilience and diversification. This also helps find people with in-demand and niche skills because it widens the talent pool net.
Expanding geographically to business hubs such as Hyderabad, Bangalore, Singapore and Hong Kong help companies acquire niche expertise in fields like tech and engineering. Looking at these areas can also help with cost optimization. Regions such as Southeast Asia, Eastern Europe and Latin America can offer reduced labor and operational expenses.
Globalization Minimizes Risks
A distributed workforce reduces dependence on a single region and can minimize risks, such as regulatory changes and economic and socio-political instabilities.
Expanding into other regions can also help with companies’ employer brand by creating increased workforce agility and flexibility for workers who may wish to experience different parts of the globe.
Enhancing Diversity
Globalization also plays a key factor in enhancing diversity. It’s proven that diverse teams are better at innovation, flexibility and dealing with ambiguity. Through the use of Talent Analytics, Hudson Talent Solutions is able to counsel organizations on the most effective geographic areas to target for expansion.
Global-Minded Leadership
And as much as picking the right region is critical, it’s also important to find leaders who think globally and are open to new ways to innovate and solve problems. Not everyone has the unique skills that are needed to manage across time zones, cultures and differing digital tools. At Hudson Talent Solutions, we have a robust Talent Intelligence tool that helps us focus on what’s needed for a particular role and organization, and helps us identify the transferable skills needed to succeed.
Leaders also need to be adept at managing these remote teams in a way that they can nurture the skills and innovation needed to achieve business goals and attain true globalization.
Bettinger notes that those companies that invest in resilience and culture will have better reputations with internal and external audiences, thereby creating better business outcomes.
This article is based on a paper written by leading research firm Everest Group and commissioned by an industry leader in talent acquisition, Hudson Talent Solutions. The paper delves into key topics, including DEIB, leveraging AI and measuring the value of RPO programs.
Listen below to the webinar, “Globalized Workforce Strategies in an Era of Talent Chaos” featuring Hudson Talent Solutions’s Jeff Bettinger and Everest Group’s Lokesh Goyal.
