Stockholm or Copenhagen, what’s the difference?
Being a part of global company and located in Scandinavia, we’ve had the chance to work on many interesting projects where our clients have a strong need to find talent globally that is outside their market knowledge base. The most common projects are when companies need to build a sales or service based office which may expand in the future. One of the challenges we experience when setting up a project starts with a clear definition on the location, growth projections over three years, and defining the type of talent pool to support their customers long term needs.
From a short term perspective, navigating through these questions help mitigate Talent Acquisition bottlenecks by opening the door for a larger group of potential candidates, which thereby shortens the recruitment process. From a longer term perspective, answering these key questions sets a clear boundary for future expansion of the business. If expansion is a likely scenario, being close to the right talent pool is absolutely critical, as it affects the speed of expansion, company culture, and company performance.
For parts of the world where talent is in high demand (like Scandinavia), people are highly unlikely to move to new locations. According to recent studies in high talent demand geographies, and key findings supported by influential American urban theorist Richard Florida, companies need to relocate to where the talent is to be found, not the other way around. Providing that this position is the case, creating a thorough understanding of supply of talent supply in different hot spot locations will provide a competitive advantage and mitigate future growth pain risks.
The good news is that there are tools that provide greater insight into the talent market which effectively helps companies make the right short term hiring decision and the right long term location decisions. At Avancos, we utilize Talent Intelligence starting with a Intelligence Market Analysis Profile (MAP) to establish a better understanding on where talent with specific skill sets are located. Once captured, we engage the market, analyze the data, and provide key stakeholders with the relevant information that is actionable to make informed decisions. Providing data such as talent supply and demand data, or salary benchmarking helps quantify where a company compares against the market. Then capturing qualitative data such as why top performers may or may not be interested in their company or specific role, how they perceive the brand, where competitors and customers are located, or what companies are seen as most attractive on the market provides more insightful ground level information. By utilizing the right process, technology and people, we help access relevant market information to increase market awareness and well informed Talent Acquisition and business decisions.
Why not take this approach when building up a branch office?
Better Insight. Better Decisions. Better Hires.