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Do you want to take part in your industry’s global growth? Today’s top-performing industries don’t rely solely on local recruiting strategies. Many companies are taking advantage of the benefits of hiring globally, which has ultimately propelled entire industries forward.
Global hiring has increased significantly since 2020 as companies look to diversify and leverage cost-effective ways to attract top talent and stay ahead of their competition.
Even with global economic activities slowing down, many industries and the companies within them have not only grown as a result of increased global hiring efforts, but thrived.
Which industries have grown through global hiring?
While 2020 was a challenging year for many industries, Globalization Partners’ Business Intelligence (BI) and Data department highlighted numbers that show industries have increased their global hiring rates from the beginning of 2020 to the middle of 2022.
The software industry stands out for a steady increase in global recruitment. This is due to the ever-growing demand for tech talent and a lack of available local talent in many areas — pushing many companies to satisfy this demand through a global talent search.
The global software industry is not the only industry that has increased its global hiring efforts since 2022. In fact, every industry analyzed by Globalization Partners’ BI department showed an increase in global hiring rates from Jan. 2020-May 2022.
One of the reasons almost every industry has turned to global hiring is because it serves as an effective solution for talent scarcity and high costs associated with hiring.
While the value of building a global team is no secret, the process doesn’t come without its challenges, especially during rough economic climates. The good news is that you can adopt a global hiring strategy to reduce costs, diversify your teams, and put your company one step closer to successful growth.
How can you join the global hiring wave?
If your industry has benefited from global hiring but your company has yet to partake in this growing global trend, it may be time to expand your hiring strategy beyond local borders to avoid losing ground to your competitors.
One way to implement a global talent acquisition strategy is to identify the country you want to hire in and set up an international entity there. This can involve:
- Registering with local authorities
- Meeting capital requirements in-country
- Hiring legal, financial, and HR experts
- Learning and following local laws for each new country
- Keeping up with changes to regulations
- Navigating new cultures
All of these steps require a significant amount of time and resources. This is why global hiring for many years was only possible for “industry leaders” and companies with an abundance of resources at their fingertips.
Today, taking on the time-intensive tasks involved in setting up a global entity is no longer necessary. A global hiring partner, such as a global employment platform provider, gives you access to technology and expert support that make it fast and easy to hire team members anywhere in the world.
Hiring globally through a global employment platform
A global employment platform is your solution for global hiring obstacles. A top platform provider will combine fully compliant technology with in-country legal, financial, and HR expertise to streamline and support payroll, taxes, benefits, and all HR processes involved in global hiring.
A global employment platform can benefit your company if you want to:
- Cut hiring costs
- Accelerate your time to market
- Hire talent, anywhere in the world, quickly and easily — no entity required
- Mitigate risks related to noncompliance
Globalization Partners’ Global Employment Platform™ handles the complexities of key processes that often take up leadership focus and time, allowing you to channel your energy and resources toward long-term goals and, most importantly, your people.
If you want to learn more about how your company can join your industry in this global hiring trend, we invite you to contact us to obtain more information about hiring team members through a global employment platform.