Outlook on 2024: Unpacking Business Expansion Trends with Scaling Partner
For the past seven years, we've been a reliable partner specialising in staffing and global expansion consultancy. As we've seen firsthand how businesses’ approaches and views have evolved over the years, we decided to launch an annual review of the 5 latest scaling trends.?
I’m Julia Itskovych, COO at SD Solutions, and I will give you a tour of business expansion tendencies in 2023 with modest predictions for 2024 trends from the scaling partner perspective.
1. Staffing beyond borders keeps being the tendency.
It's no secret that the trend to source overseas is now gaining traction, and cost reduction is no longer the only reason. Besides the global talent pool, cost per hire and flexibility, we can add 3 more reasons.
Don't focus on finding candidates in just one country if you need a rockstar
Despite the downturn in the IT sector, top-notch specialists with 10+ years of experience are not just slouching around waiting for you. The opportunity to look for a candidate in various countries is a blessing in disguise, and this will be even more relevant in 2024. It's better to give the search a chance in several locations if it's a specific technical position related to artificial intelligence, cloud computing, advanced robotics or other cutting-edge technologies. You might hope for a candidate in Georgia but get a perfect match in Portugal. After having an accepted offer from the core professional, you should concentrate on one country and build a dedicated team there.
Overseas branches give a needed sense of stability in the ever-changing reality.
Forward-thinking executives understand that relying on a single location brings a risk of disrupted operations. In all cases, it is better not to put all your eggs in one basket.
A decentralised workforce located in various countries can provide a sense of stability and facilitate smooth production. Having holidays and weekends on different days is advantageous. While some employees are off, others are onsite, providing full business needs coverage.
Global teams unveil the power of time zone variability for 24\7 business operations.
A relatively new trend of 24/7 coverage is empowered by a genuinely engaged and integrated team, not freelancers scattered around the world. The favourable time zone makes Tbilisi a beneficial location for the USA., operating at +3 GMT. It allows American companies to maintain a 24-hour online presence without incurring additional nightshift costs. Imagine having a team that maintains operational efficiency in Medellin with -5 GMT and Tbilisi with +3 GMT — definitely a trend for 2024.?
2. The hybrid model is becoming the #1 workstyle.
Having tested a hybrid system since the COVID-19 lockdown was over, we realised it has only 1 downside - an odd and unclear name. We call it three-to-two or two, where the first digit is office days and the second - is remote work days.
Сompanies expect people back in the office, but everyone wants to work from home at least several days per week. A hybrid model became a go-to solution. Working 2-3 days a week at the office, employees socialise and align all the processes. Yes, working exclusively from home did not appear to be as great as folks thought it would be; not everyone is able to manage their time and social life autonomously. On the other hand, hybrid gives a chance to create an action plan for remote days while at the office and then reaching home.?
A recent Gallup study reveals that the benefits of the hybrid work model are much greater than we might have imagined. A business's primary objective is to showcase these advantages and proactively address any potential challenges that may arise. This also includes providing the necessary infrastructure. While in the era of full-time remote work, office and equipment were less critical, the hybrid model demands having a space to work. As a scaling company, we take care of this headache for our clients by providing employees with everything they require.
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3. Global hiring meets the cultural complexity.?
Although globalisation and cross-border hiring offer many opportunities, it is better to approach it knowing the landscape to avoid the negative impacts of intercultural communication on performance.?
Due to the undergoing political processes in most Eastern European countries, specific expertise in human resources is required to build a high-performing team without constraints. For instance, when hiring in Poland, paying attention to such details as political views is crucial to avoid or handle conflicts at work. Recruiters at SD Solutions always conduct a cultural fit analysis for each candidate. This precise work seems easy at first glance, but when you start hiring, it seems to be a rainforest of personality characteristics, and the recruiter must be Indiana Jones.
4. Mindset goes before coding language.
Have you noticed that there are more and more full-stack positions? This trend is especially true for senior positions. Applying for a C++ position and writing in Java or Python at the end of the day is already a common practice. However, the key requirement is not even about knowing many programming languages; it is more about being up to learning and adapting right on the go.?
As a scaling partner for modern start-ups, we learned a lot from a client who said once: "We will accept specialists who write in Python or any other language; it doesn't matter in general. What is important for us is that they want to develop our product." In fact, it's rational: the world is changing, new technologies are emerging, and standing in one place means becoming outdated.?
When it comes to non-technical positions, people might falsely think that they are easier to cover. For instance, while building the Data Operation Unit, the ideal candidate had to be persistent, as there are many details involved, but also not too introverted and not be afraid to ask for help if they are unsure about anything. Our recruiters in Poland act like psychologists to put all the pieces together and form a cohesive Data Operation Unit.
In 2024, soft skills will no longer be a mere afterthought. Gone are the days when candidates could claim to be good communicators, and companies spend four months realising this is not the case. Recruiters will need to conduct more precise pre-screening to narrow the list of those who fit the role with hard and soft skills. That is why we put a lot of emphasis on personal qualities.
5. Businesses strive for Long-Term Relationships With Overseas Teams.
Many businesses have now started to treat their augmented staff like an in-house team rather than a resource. In 2023, clients are trying to understand the values and best practices of the country where they hire with us. Instead of being detached, they go to onboarding events, work on handbooks and hold constant video calls and weeklies.?
Businesses aim for long-term relationships because no one wants to invest a three-month training just to say goodbye. Everyone wants to hire a talent right from the first interview and work with them for three or four years or even more.
However, it is not enough just to hire specialists. The business needs to establish the seamless integration of the nearshore team. SD Solutions' local HR specialists cover internal communication and create “integration lists” for partners: best practices, preferable benefits, major holidays and events and more.
Looking back to the most popular clients’ inquiries, we anticipate that in 2024, there will be a lean toward a comprehensive approach where all staffing needs and consulting are included in one scaling service. This system provides companies with a comprehensive suite of tools for their overseas expansion. With such partnerships, even small startups can benefit from the expertise of larger companies, like SD Solutions, that have already built numerous overseas teams. Big companies, on the other side, get a chance to stop sliding over and get deep into each team’s productivity and input. No matter what 2024 brings, we are always up-to-date with the latest industry solutions and equipped to scale your business.
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Leading Marketing Strategy at Blue Carrot
1 年so insightful!