3 powerful strategies to build a robust global workforce

Globalization and digitization have brought the business world a lot closer, changing some of the very fundamentals of work. For one, the emergence of remote work is a huge boon for all involved, granting access to global opportunities that weren’t there before. As a result, global workforces were no longer as scarce and companies started to see the value in distributed teams. The talent pool became a lot deeper and consisted of quality candidates, who were often better motivated to perform. 

In fact, 81% of companies reinforcing talent mobilization experienced tremendous growth in revenue. Some even surpassed their initial targets, suggesting that a lot is still left to be learned about global teams. For instance, organizations that prioritize diversity and inclusion of their global workforce are 35% more likely to have better returns. Naturally, the promise of better returns and reduced turnover has made the practice of employing global teams mainstream and so, competition is fierce. 

There is no dearth of challenges in the sphere and to rise above the competitive noise, it’d be wise to pay attention to these 3 crucial strategy verticals of building a global workforce.

Optimizing the hire: Getting the ‘right’ talent 

A key element of a global team’s success is determined by your organization’s hiring strategies. Can you actually find and onboard the talent fit for the job role? As the global talent pool expands, so does the horizon of contracting the best of the best. Skilled talent is out there, and it isn’t easy to come by or reach. 

Rethink the approach to recruitment

First and foremost, there must be no discrepancy in recruitment goals. These guide HR personnel, hiring managers, and subsequent efforts to take the right steps. 

Here, data suggests that transparency and inclusion are key elements to a successful modern recruitment strategy. The next steps are to zero in on the purpose and the outreach channels. For the former, companies must be clear that candidate profiles and approaches to hiring will differ based on whether the goal is to hire a full-time employee (FTE) or a contractual employee. It is also pertinent to explore the possibility of a contract-to-hire model existing in such scenarios. 

In any instance, hiring achieves little without the guidance of purpose. The next aspect is outreach. To reach a diverse talent pool and build a diversified workforce, the company must have the ability to tap into various channels, further strengthening the recruitment strategy. Whether it is the company’s career portal, online job portals, and platforms like LinkedIn, the goal is to focus on readiness regardless. In fact, companies are optimizing in this arena as almost 84% of companies use social media as a key tool in recruiting. 

Outsource talent acquisition

Talent acquisition is more than recruiting to simply fill vacancies. The goal is to fulfill long-term HR planning objectives and onboard assets with enhanced skillsets for the organization. For this reason, top leading companies outsource talent acquisition to specialist partners, such as Talent500. In fact, recruitment process outsourcing (RPC) improves the year-over-year hiring costs by 38%. Moreover, 69% of employees hired through talent acquisition firms show greater engagement.

More to the point, talent acquisition partners often have access to global talent hubs. These provide the opportunity to tap into a vetted talent pool, capable of delivering on all fronts. Also, it comes with added administrative benefits and the potential to improve employer branding for the company.

Act on feedback

Getting feedback through active communication is one of the best ways to build a global workforce. Collect feedback through reviews, direct emails, surveys, and focus groups that will help you improve hiring strategies. Diversity is a crucial factor in the modern workforce, and for companies new to the undertaking, first-hand guidance helps. 

Embracing diversity and inclusion (D&I)

A global workforce is inherently diverse but that doesn’t mean D&I shouldn’t get the attention it requires. From a staffing POV, talent from different backgrounds with various cultures, races, religions, gender, and ethnicities are a gold mine of unique perspectives. Inclusion simply doubles down on these benefits, creating an atmosphere that truly uplifts diverse teams. Organizations that support diversity are 35% more likely to perform better than their competitors. Also, they are 70% more likely to venture into new markets. Simply put, it is not only the right thing, but also the smart thing to do. 

Practice transparency

Make transparency the core of your business principles. The best practices in the industry can help frame the company’s rules and guidelines to create a healthy ecosystem. 

Celebrate differences

Building a healthy global workforce involves celebrating employee differences. Observe global events, traditions, and festivals. Encouraging your employees to share their dynamic characteristics promotes diversity. Respect the cultural differences and in doing so, it could lead to refreshing policies that actually make a difference. 

Managing global talent

Hiring a talented global workforce is one side of the coin; managing it is the other side and is just as important to building one that lasts. However, this process is a continuous effort, which is resource-intensive. Cut-throat competition across industries have made employee turnover a huge vulnerability, and retaining talent isn’t easy. Managing global talent demands foresight and can’t be achieved effectively if viewed only from a management POV. 

Prioritize engagement 

Hiring globally, while tricky, is relatively simple compared to maintaining engagement with a global team. Engagement is the underpinning of building a global workforce, impacting hiring, onboarding, productivity, and ultimately turnover. Companies with increased employee engagement earn 21% greater profits and report 17% more productivity compared to others. 

The zinger model, Deloitte model, and AON Hewitt model are some top talent engagement models. Whatever the approach, the employee engagement model is key to unlocking that which empowers employees to excel. It is a framework that fosters job satisfaction and productivity. 

Delegating responsibility

Managing a global team is a challenge for any HR department. This is especially the case for larger companies with headquarters overseas where logistics takes on nightmarish qualities. In such instances, an efficient solution would be to institute the Employer of Record (EOR) model of operation. 

This aligns hiring and employee management by delegating a third-party firm with complete responsibility. As such, setting up a global presence is easier as salaries, taxation, VISA, insurance, and other key aspects are taken care of. In the same realm of HR outsourcing, another option is to consider the services of a professional employment organization (PEO). While these are reasonable, the EOR model offers greater control in terms of employee management. 

Effective communication

Delegating talent management does not absolve companies of their responsibility. To manage and retain global talent, it is essential to communicate effectively at every stage of the employees’ careers with your organization. This begins right from interviewing, onboarding, induction training, and reporting to performance assessment and promotions. Effective communication through various modes helps the employees feel valued, in turn reducing turnover adding to the success of building a global team. 

Given how interconnected the world has become, global teams are now a staple across industries. Building these teams is no easy task, but with the right partner in your corner, it can be. Choose Talent500 to build efficient distributed teams or to find remote workers to bolster your ranks. Our expertise has earned the trust of many Fortune 500 leaders, and our impact has been felt in over 50+ countries. Schedule a consultation today and take advantage of an AI-powered talent management solution to build, grow, and empower your global teams.

Resources

• https://financesonline.com/hiring-statistics/
• https://business.linkedin.com/talent-solutions/global-talent-trends
• https://www.businessnewsdaily.com/15970-diverse-inclusive-companies.html#:~:text=Learn%20from%20these%20six%20companies,and%20supportive%20environment%20for%20all.
• https://www.wilsonhcg.com/blog/what-are-some-of-the-top-talent-acquisition-statistics-for-2022
• https://nhglobalpartners.com/hire-global-team/
• https://care.icims.com/s/article/Feature-Highlight-Organizing-Your-Candidate-Pipeline-with-Talent-Pools#:~:text=When%20building%20out%20your%20organization’s,certain%20area%20of%20your%20organization.