Is International Talent an Option for Your Company?
There is a great opportunity in today’s labour market to take advantage of international talent. This is especially true for companies operating in regions/sectors with an acute shortage of skilled labour. Looking outside of the region, or even country, can be a solution that not only helps fulfill pivotal roles, but also increases the quality and skillset of their overall staff.
In Scandinavia we are seeing an increasing openness by companies to look outside of national boarders to attract staff. This holds especially true for sectors such as IT and Engineering, where there is little functional need to speak the local language. In some cases companies have reverted to English as the corporate language, not the least those who operate on an international or pan-European level.
It is likely that this trend will only increase overtime as:
- English is continuing to gain ground as a first or second “working language”
- There is a decreased [economic] cohesion between disparate regional or national economies, pushing talent to relocate in search of better opportunities
- Economies continues to become more internationalized with a larger proportion of international customers
- There is an increased cultural awareness ranging from a larger proportion of students studying abroad and companies growing accustomed to interacting with other nationalities
Still, only a fraction of companies that have the possibility to do so, are considering looking outside of their local regions when attracting needed talent. One aspect is cultural. If they don’t have experience with international talent or if they’ve had a bad experience, the step, for a Norwegian company, to look for talent in, for example, Spain is big. Another aspect is functional, as it can be costly and complicated to search for talent through new or unknown channels if accurate information isn’t accessible.
Whether international recruitment is an option or not, the biggest hurdle for any company is a lack of information. Without credible information and data, it is challenging for a company to put together an effective strategy. At the very least this includes gathering information on where the talent is geographically, salary benchmarking and other information that assures resources are focused in a cost effective and efficient way. At Avancos we combine technology, process and industry insight to produce a MAP™ (Market Analysis Profile). Incorporated into an overall recruitment strategy, this helps achieve better outcomes in talent acquisition.
During the last five years we have seen many examples of how companies that think out of the box and utilize the international talent MAP have been able to improve the quality of candidates, make their company more attractive to both local and international candidates, and cut their recruitment costs substantially. We are always eager to learn and if you have experiences to share or want to bounce ideas off of us, don’t hesitate to contact one of our Avancos offices.