Doing business is international, and that includes hiring. International recruiting provides a range of benefits including widened talent pools, competitive edge, creativity and perspective, culture and diversity, productivity, and so much more.
1. Helps you access a bigger talent pool
By hiring internationally, you are no longer constrained to your local talent pool. In fact, the international visa is credited to the creation of Silicon Valley! International employees are an excellent source of talent and are an under-utilized source of knowledge, experiences, and innovative ways of thinking. Hire internationally and secure the very best employees who will add value and make a positive long-term impact on your organization.
2. Provide you with competitive edge
Hiring international talent also provides your company a competitive edge by making it more diverse. Research has shown that companies with more culturally and ethnically diverse executive teams were 33% more likely to see better-than-average profits. Also, 48% of companies in the US with more diversity at a senior management level actively improved their market share from the previous year. By hiring internationally you can leverage the knowledge and understanding provided from a diverse team.
3. Encourages creativity and perspective
Creativity and perspective is rewarded by a global market approach to hiring. Hiring international employees brings talent with different perspectives into your company as they come from different backgrounds. The blending of these perspectives from various cultures is quite possibly the best recipe for creativity and innovation. Creativity in the workplace has proven to positively influence work-life balance, employee self-development, collaboration and teamwork, engagement, motivation, and trust.
4. Enhances workplace culture
When considering international hires, it is important to remember the enhancement to organizational culture that they provide. In fact, the sharing of different international perspectives and ideas greatly benefits your organization and leads to better employee morale as well as a positive reputation for your company’s culture. A great workplace culture directly correlates to a decrease in employee turnover, churn, and absenteeism.
5. Helps you stay productive around the clock
The new normal of hiring internationals involves remote work. When done properly, remote work systems can give you the additional advantage of productivity around the clock. Your virtual team can help with quick turnarounds on urgent projects. Research shows that 77% of employees working remotely report greater productivity. Considering the new challenges around talent mobility during a global pandemic, it is refreshing to learn that 65% of international hires are more productive in their home office than at a traditional workplace.
6. Allows you to reach new markets
It goes without saying, hiring internationals exposes you to new markets and new opportunities for growth. Hiring people from other countries helps your company become familiar with and overcome cultural differences such as slang and etiquette. Additionally, international hires can help you overcome language barriers, critical in expanding to new markets.
Are you ready to take the next step in your hiring strategy? Our report, How to design mobility policies for a global workforce, can help you get started.
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