As a recognized leader in the Employer of Record (EOR) industry, G-P is always advancing the conversation around the future of work and the new opportunities our EOR solutions are helping to create. In a recent episode of our Pangeo Perspectives podcast, we explored how businesses are adopting new mindsets and models to navigate the complexities of global growth.
In a quickly changing and globally connected world, companies relying upon the traditional approaches to global growth are facing challenges. The EOR solutions G-P has created have sparked a world of new possibilities, and with those possibilities comes the need to overcome emerging obstacles to global growth by embracing new mindsets and technologies.
Jane Reddin, Partner at AlbionVC, and Kevin Smith, Co-Founder of Coleid Limited and Sana Capital, shared an insightful conversation with us on this topic on our Pangeo Perspectives podcast. Together, we discussed the importance of shifting to a larger focus on business agility and structure, global talent integration, and company culture to maintain success and a competitive edge in new global markets.
Let’s take a look at some of the key focal points to achieving global growth today:
Finding new growth requires both agility and structure.
Today’s business leaders are characterized by an ability to adapt to whatever changes or innovations may arise. Being flexible and responding to technological advancement and new possibilities for the future of work can play a significant role in a company’s growth potential. In a world where businesses go from startup to enterprise faster than ever before, a willingness to learn new things and quickly pivot when the circumstances call for a change is crucial.
But equally important is agility within the context of structure. Yes, you have to be able to adapt to the fluidity of the business landscape, but without structures in place for key areas like hiring, communication, and decision making, an organization could find itself tossed whichever way the wind blows. The ability to adapt to changes while remaining rooted in structures and processes that have proven effective is key on the path to global growth.
Without the right structures in place, an organization could find itself tossed whichever way the wind blows.
Leveraging an EOR increases diversity of talent.
One of the beautiful things about expanding globally is adding team members from all different regions, cultures, and walks of life. Thanks to the EOR model, there’s a real revolution in global talent integration when you consider the fact that the best person for the job could be on the opposite side of the world from you. As global communication improves and the ability to work from anywhere remains a top priority for employees, there’s a disbursement of talent and democratization of opportunity that continues to emerge. At the same time though, it’s also worth considering time zone proximity and noting that at least a little bit of geographic overlap is important in allowing people to be online at the same time and collaborate on projects.
Within this evolving global growth mindset, there’s a shift happening from solely market-centric thinking to also incorporating opportunity-centric thinking. The need to get closer to your clients and to opportunities is driving where people want to place their talent. The most important thing is nurturing the place you want to scale and choosing someone to lead this new market entry where they have spent time and have in-depth knowledge of the local culture and traditions. Sending someone from HQ to try to launch a new global market blindly just doesn’t work.
An employee-centric company culture creates shared success.
As businesses expand and hybrid and remote models become the norm, being able to maintain a healthy and engaging company culture becomes more of a challenge. In the midst of expansion, it’s important to have a team that feels individual needs are being met at the same time as company needs. Does the team share the vision for company success? Have employees bought into the collective mission of the business? Do they feel safe in the workplace, and do they trust company leadership to partner with them as they push their careers forward?
Successful global companies are focusing on an employee-centric culture as early as the recruitment stage. Are there processes in place to ensure new team members can hit the ground running? Is the onboarding process effectively embedding them into the company culture without overloading them and setting unrealistic expectations? And after they’re onboarded, is there a culture of investment in developing talent and upskilling so that both employees and organizations are moving forward together in the same direction? This people-first approach to culture helps businesses bring their employees along with them on the global growth journey to success.
Thriving in this new era of work requires a new global mindset.
The new global business landscape is driven by the ability to be agile within proven structures, integrate strategically placed global talent, and foster an employee-centric company culture, all in a collaborative and dynamic environment. New opportunities and means of connectivity are arising every day, and it’s the businesses that adopt new mindsets and models for global growth that will lead the way. For more insights and expert commentary on this topic, listen to the full episode of “New Mindsets and Models for Global Growth,” delve into other related podcasts in the Pangeo Perspectives series, or check out our 2023 Global Growth Report to discover how others are seeing the future of business.
As the recognized leader in the global employment market and standard bearer for industry compliance, we continue to pave the way with new technology for new times. The #1 Global Growth Platform™ helps companies plan, hire, and manage global teams in 180+ countries, quickly and compliantly. G-P continues to gather key perspectives and insights from growth-minded leaders, HR innovators, and entrepreneurs from around the world through our Pangeo thought leadership efforts as we help shape the global growth conversation.
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