A Global Hiring Strategy Will Grow Your Business

Before the days of computers and remote work, companies were largely reliant on the local job market for suitable candidates. Times have changed, though, and the borders between cities, states, and countries no longer apply to the business world. Adopting a global hiring strategy is becoming more common, thanks to a wide range of benefits that level the playing field and keep you moving forward. 

Here's how a global hiring strategy can help you grow your business: 

1. Gain Access to Top-Tier Candidates:

Searching for candidates with specific skill sets isn't always feasible locally. You can cast a wider net when you search for overseas candidates. Offshore employees bring a high level of expertise to your projects, despite living in a different country. What's more, they may be able to bring a unique perspective on those skills because of their experiences working in another country. 

2. Reduce Payroll and Overhead Costs:

The cost of living in the United States isn't the world's highest, but it's also far from the lowest. When you hire locally, you're hiring based on local market rates. However, working with candidates in another country could give you a break on payroll and overhead costs without sacrificing the quality of skill and expertise that comes with it. Countries like The Philippines have an extremely low cost of living compared to most first-world countries, allowing candidates to accept lower salaries and still maintain a high standard of living. Additionally, there are no added overhead costs that come with having on-site employees, such as benefits, taxes, etc., leaving more money available to reinvest into your company's success. 

3. Strengthen Your DE&I Strategy:

Hiring overseas talent can help create diverse teams filled with experts ready to offer unique perspectives and ideas that contribute significantly towards achieving business goals and success. This helps strengthen DE&I strategy within any organization while simultaneously providing access to top-tier talent worldwide without compromising skill or expertise levels. 

4. Reduce Job Vacancies:

Having job vacancies within an organization can cause massive productivity losses and ultimately eat away at profits - which no company wants! Expanding your talent pool internationally gives you more qualified candidates to consider, which will reduce those vacancies quickly and make sure your business stays competitive in its respective industry sector. 

How to Start Building Your Global Hiring Strategy: 

If the work can be done remotely and your candidate is willing to work the hours you specify (even across time zones), there's plenty of incentive to hire outside your local market. For help finding and managing top talent beyond borders, schedule a call with a Thankz expert.

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TLDR: A global hiring strategy allows businesses to access high-quality talent from different countries, reduce payroll and overhead costs, strengthen DE&I strategies by creating diverse teams, and reduce job vacancies - all of which provide significant advantages for business growth.