As more and more companies expand internationally, identifying and attracting top talent is more critical than ever. CEOs who want to find international success are extremely concerned about where they can find top talent and how to manage that talent.
Global Talent Management: A Top Concern
In a Harvard Business Review study of CEO challenges, talent-related issues were identified as the top concern. Businesses are in constant flux, growing and changing to meet challenges and adapt to evolving conditions. Larger companies often need to hire large numbers of people at one time, and it is no easy task to attract throngs of top talent in a short period of time, especially on a global scale.
Other concerns about top talent included developing new employees’ potential, mobility of employees, and keeping the talent pipeline stacked for when rapid hiring was required. Motivation of employees, retention, and diversity were also mentioned. All of these important priorities are more challenging when explored on a global scale.
Global Talent Management Strategies
It is possible to attract and even retain top talent across international borders. Some of the strategies are not much different than attracting top talent more locally, while others are unique to the global marketplace.
The bottom line in attracting top talent is offering what people want in order to get them to work for you. Top talent can mean top salaries, but identifying what people want outside higher pay can also be an effective strategy.
Offer to develop their skills. Of high interest to top talent is the ability to develop even more skills and abilities. Media giant Bertelsmann offered Indian employees a free MBA degree and saw their retention of top talent increase for less than salary increases would have cost.
Offer cultural skills training. Top talent is often too intimidated by cultural difference to take a job in another country, but companies can ease those fears by offering programs and training that will help overcome those cultural obstacles and make employees feel more comfortable taking a job in another country.
Offer a strong employer brand. To some extent, top talent’s perception of your company will determine your ability to attract that talent. Through social media, your company website (employer side), and other strategies, you can build your reputation as a company which talent all over the world will consider as worthy of interest as an employer.
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Emphasize what different cultures value. There will be some variation from employee to employee, but knowing that the culture of Russia tends to value short term over long term rewards or that Indian culture greatly prizes quality of management will help you offer incentives to which international employees will be drawn.
Top talent management is no easy task, but ThriveTRM software can make it easy to keep track of recruiting efforts throughout the entire process. The system easily tracks contacts and communications to ensure that everyone involved in the process is kept in the loop about all developments. Contact us for more information about ThriveTRM and all it can do for your company’s recruiting efforts globally.