How do I hire someone internationally? How can I hire international talent? What is international hiring? Why is international recruitment so important? Why do companies hire international employees?
According to Statista, there was a dip in global employment in 2020. Recruitment numbers decreased from 3.3 billion to 3.19 billion due to Covid-19. However, 2022 saw an increase of 4 percent in employment rates.
Tech was among the few industries that contributed to the boost in global employment. A surge in demand for tech talent encouraged companies to think of better ways to hire candidates. This paved the way for international hiring.
Scouting and hiring the best talent from across the globe is international hiring.
What has led to the hiring of international employees?
Hiring international employees was already popular with entrepreneurs outside Silicon Valley. However, with Covid-19 and the rise in remote work, tech companies in Silicon Valley started exploring the benefits of hiring international talent.
Today, most businesses are leveraging international hiring and embracing the global talent pool.
Businesses consider diversity, creativity, and innovation as the key indicators of growth. This growth can only be possible when companies broaden their search for the right talent across international borders.
Some of the top MNCs like Microsoft, Twitter, Facebook, and Apple have realized that recruiting tech talent is competitive and challenging, and hence are hiring the best tech talent across the globe.
Why are tech companies hiring international talent?
Did you know that it takes around 35 days in the US to hire a candidate for a developer role and about 45 days in Canada? Why does it take so long to fill a single position?
The answer is simple.
Most companies limit their hires to the local market. And thus, these companies are limited by geographical boundaries.
Benefits of international hiring
To access a larger talent pool with unique skills that are not available in the local market
To save on the costs of hiring
To leverage the underutilized talent pool. For example, people with disabilities, people returning to work after a long break, people who are not willing to work full-time, and more
To create diversity in the company to foster productivity and innovation
To minimize and manage the overall tax liability as the tax rates differ country-wise
How can tech companies hire international talent?
1. By providing higher compensation than the market average in that region
Offer higher compensation than the market average in that region
Some of the popular countries to hire international talent at lower rates are the Philippines, Brazil, India, Poland, Costa Rica, Argentina, Vietnam, and more. Companies can attract high-quality talent from these countries by offering better compensation than local companies. For example, Turing offers developers salaries higher than the market average in most countries.
Here are a few ways to offer better compensation:
Offer your employees better financial packages. For example, include medical insurance, internal vacations, bonuses, commissions, dividends, and more in the package.
Hire them as contractors to help them save on income taxes.
Receiving fair and competitive benefits will create a feeling of satisfaction amongst the employees. This step will ultimately lead to better hiring practices and better retention of employees.
2. By creating diversity and inclusivity
According to a recent Deloitte survey, 74 percent of millennial employees believe that a culture of inclusion makes their organization more innovative. And 47 percent strongly look for diversity and inclusion when evaluating potential employers.
Companies with gender-diverse teams perform better than others. Hence diversity and inclusivity should be the key factors when screening and selecting candidates during the hiring process.
Here is an example of how US companies can build diverse teams. Look out for candidates from Latin America, Asia, and Africa. Latin America has a distinct benefit when compared to other countries in hiring international talent. Apart from geographical proximity, the cultural values of Latin America are similar to that of the U.S.
In addition, Latin American employees can easily communicate and collaborate with their U.S counterparts due to the similar time zones. Latin American employees are proficient in English and can be hired at lesser costs since their cost of living is lower compared to other countries. All these benefits put together make Latin America the best option for international hiring.
Strong branding is key to attracting and retaining international talent.
According to a Glassdoor survey, a strong company brand minimizes the cost per hire by 50 percent. So, build your brand in a way that makes it attractive to the global talent pool.
The best way is to showcase your brand’s stories and experiences of existing international employees through videos and blogs. This kind of brand building will create a positive image of your company among the international audience.
4. By hiring employees based on their abilities and not resumes.
Companies like Turing, Google, Apple, Microsoft, and other big techs prioritize employee skills over educational qualifications while hiring. Similarly, you can focus on candidates’ abilities and assess them via coding challenges, live projects, and other tests instead of making all hiring decisions based on resumes.
This approach will help companies attract a larger talent pool and vet the best talent.
5. By creating a captivating candidate experience
Companies should have a well-structured hiring process to make the candidates feel comfortable. Interviews can be mentally stressful and challenging for interviewees. Hence, companies should pay utmost attention to the candidates’ experience and the time they invest in the interview process. Here are a few ways hiring managers can create a great candidate experience:
By clearly communicating the steps of the hiring process.
By providing them the relevant learning material.
By offering constructive feedback to all candidates.
Conclusion
Hiring international employees provides access to a larger talent pool, speeds up the hiring process, creates diversity in workplaces, and saves the cost to hire. So, follow the above-mentioned tips to hire the best international talent for your company.
Are you looking to build an international team of software developers? Try Turing.com. Turing is a remote company that helps you source, vet, match, and manage the world’s best software developers remotely with an AI-backed Intelligent Talent Cloud. Hire the best developers from 150+ countries at half the cost. Visit the Hire Developers page to know more!
FAQs
What is international hiring? International hiring is the process of searching for and recruiting the best talent across the globe.
Why hire international talent? Here are the benefits of hiring international talent:
To access a larger talent pool with unique skills
To save on the costs of hiring
To make use of the underutilized talent pool
To build diversity within the company
To minimize and manage the overall tax liability
How to hire international talent? Some of the best ways to hire international talent are as follows:
By providing higher compensation than the market average
By building diversity and inclusivity
By developing a strong company brand
By hiring employees based on their abilities and not resumes.
By offering a captivating candidate experience
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5 Ways Tech Companies Can Hire the Best International Talent
Description
5 best ways to hire international talent: 1. Providing higher compensation than the market average 2. Hiring employees based on their abilities and not resumes.
Gayathri Avinash has written content for several industries like digital marketing, franchising, education, automobile, financial consulting, and software.
