Whether you’re testing new markets or scaling your workforce, international hiring can be an exciting yet challenging venture, even for experienced businesses. However, researching cultural nuances, leveraging effective tech tools, and implementing best practices will help streamline the global talent acquisition process.
G-P is at the forefront of the global employment industry, and our years of experience have equipped us with detailed knowledge to guide growing companies during their global hiring journey.
If your company plans to hire internationally in 2024, here are 10 global talent trends to consider.
1. Global over local talent acquisition
During 2024, companies will continue focusing on global talent acquisition and building dispersed teams as a strategic way to diversify and adapt to the changing market needs.
This year, remote work continues to be on the rise, which will make it easier for companies to attract and hire talent regardless of geography. This will allow companies to fill roles that require specialized skills, and recruit candidates that are outside of their local talent pool.
2. Hiring in emerging talent hubs
Companies will pay more attention to emerging talent hubs in 2024. Countries that may have been previously overlooked are producing highly skilled talent that can help recruiters solve local skills shortages this year and beyond.
A ManpowerGroup survey revealed that 75 percent of companies believe that one of their top challenges is recruiting qualified talent. Local talent shortages have prompted some companies to look further afield for the talent they need. Tapping into emerging talent hubs can give your company a competitive edge.
For example, tech companies may want to look into places like Uruguay and Poland for specialized professionals.
While several developed markets will be hit hard by talent shortages, others will flourish, so, companies should consider emerging markets to find the skilled workers they need.
3. Flexibility towards qualifications
While some emerging markets have experienced impressive spikes in national education levels, talented workers in these markets may lack the field experience your company is used to. For example, if you want someone with a master’s degree plus at least five years of work experience, you may be harming your chances of finding promising global talent.
This is why 2024 will be the year to invest in soft skills. This doesn’t mean you should lower your standards, but hiring criteria should go beyond academics and job experience. Recruiters will likely focus more on problem-solving skills, critical thinking, communication style, and emotional intelligence to find the right candidate for the role.
4. Emphasis on upskilling and reskilling
In addition to prioritizing soft skills, employers also need to encourage and help employees upskill and reskill. An evolving global economy, increasing digitization, and pandemic-related challenges have demonstrated the importance of keeping your business agile.
According to the World Economic Forum, by 2027, 43 per cent of work tasks will be automated. In order to successfully overcome new challenges and adapt to changing trends, you need employees who are willing and able to learn innovative skills, and provide them with the necessary tools and programs to learn them.
5. Push for diversity and inclusion
Diverse companies experience 2.5 times higher cash flow per employee. Embracing diversity and inclusion will continue to shape global recruiting trends in 2024. This may involve rooting out potential bias in the application process or finding ways to integrate your local and international teams.
Companies that have already expanded globally understand some of the unique benefits that come with diverse teams — different backgrounds and cultures bring new insights and perspectives to your company. In addition to cultural diversity, a good balance of genders, ages, belief systems, and experience levels can help enrich your team.
6. Focus on workforce planning
Strategies must change and adapt to evolving trends. Last year’s game plan may not work in 2024. Talent managers will need to be more mindful when it comes to workforce planning, and incorporate tools such as AI and predictive analytics, to make data-based hiring decisions.
Talent acquisition professionals must understand the importance of planning to identify roles, skill sets, and market trends. Workforce planning will help companies determine their true needs and plan for future growth.
7. Reliance on online communication and collaboration tools
Employees around the world point to collaboration and communication as the largest struggle when working remotely. Whether you’re hiring remote workers or in-office employees, you’ll find that international HR trends in 2024 will focus on virtual communication strategies.
Employers will continue using video conferencing software to not only interview candidates during the hiring process, but to maintain constant communication across departments and keep dispersed teams connected.
8. Investment in recruitment technology
As with many other global hiring trends for 2024, the use of recruitment technology will continue to play a prominent role. In fact, 61 percent of companies expect to increase their budget for new recruitment technologies.
Companies can leverage technology to improve their international hiring practices through applicant tracking systems (ATS). An ATS allows you to filter applications based on keywords and other criteria to narrow the list of applications you will have to review manually.
Recruiters are also expected to use AI-powered chatbots more frequently in 2024. Building a chatbot into the application process can be helpful for both your company and for job seekers.
9. Amplified employer brand
Employer branding will be especially important to successfully attract and retain global employees in 2024. An employer brand tells the story of a company and helps potential candidates envision what it would be like to work at your organization.
In 2024, it is predicted that companies will reframe their employee value proposition (EVP) to include an ecosystem of values, support, and recognition — not just a set of benefits.
10. Partnerships with global employment platform providers
Global expansion used to be an aspiration reserved for large companies, while small to mid-sized companies maintained a more local focus — this is no longer the case. Companies of all sizes are leveraging global employment platforms to hire internationally.
A global employment platform provider will already have the proper entity infrastructure in place to ensure legal and tax compliance anywhere you expand to. This saves companies a great deal of time and money, giving you the freedom to focus on finding the ideal candidates to join your team in 2024.
Build your everywhere workforce with G-P.
As you consider international talent trends for 2024, remember that G-P can help you expand into new markets smartly and swiftly — without setting up an entity or subsidiary. It is our mission to break down barriers to global business and enable opportunities for everyone around the world. We connect ambitious companies to global talent, and talent to opportunities, through our #1 SaaS-based G-P Meridian Platform™.