Attract Global Talent is currently becoming popular and desired by many companies, not only your company but also competitors.
According to an article from the website France’s Sciences Po posted on September 28, 2018:
At the present time, there are some 60,000 MNCs worldwide, controlling more than 500,000 subsidiaries.
Statista There were estimated to be approximately 333.34 million companies worldwide in 2021, slightly more than in 2019 and 2020 when there were around 328 million companies.
Of course, it will be difficult to find exact figures on the number of Multinational Companies, but the conclusion we can draw is that the number of MNCs is very large and continues to increase.
This will also automatically increase the need for talent working for the company.
According to an article written by Forbes,
“All companies and organizations have one thing in common: They are looking for the best talent that money can buy. It can be easy to assume that money is what attracts top talent, but that isn’t necessarily true. In fact, potential employees look for a lot more than just money and benefits; the intangibles matter, too”
If you have come to this article, of course, you already understand the benefits of hiring global talent.
This article will explain how to attract their attention, especially if you want to open a company in Indonesia and need talent from Indonesia.
How to attract global talent to join your company
1. Consider work-life balance
According to Linkedin Trend Report 2022, Work-life balance is a priority for professionals, up to 63%.
Many company leaders are not suited to this and it is true that work-life balance is not the only factor that causes talent to be more productive, but if you want to look for talent, it’s a good idea to understand what the talent wants, after that you can discuss it further.
Work-life balance isn’t about working less but rather about working smarter and more efficiently.
Studies from 2010, and many that came after, show happier people are around 12% more productive.
Employer of Record (EOR) services can help establish policies that prioritize work-life balance:
- Implement flexible working hours and remote work options.
- Ensure compliance with local labor laws regarding working hours and rest periods.
- Provide support for creating a workplace culture that promotes well-being and productivity.
2. Offer competitive compensation and benefits
It seems that this is undeniable, competitive salaries and benefits are the reasons many of the best talents choose to work for Multinational Companies,
But don’t worry, this won’t harm you. It’s like a longer-term investment. If you hire the best talent that will ultimately help the development of your company.
According to LinkedIn Trend Report 2022, the percentage of professionals who choose compensation and benefits as a top priority when choosing a new job is 60%.
Make sure, when you want to recruit global talent, do deep research about salaries and benefits in Indonesia or the destination country.
Apart from competitive salaries, you must know about benefits, such as: healthcare, retirement plans, and insurance, and Indonesia also has Hari Raya Allowance (THR) or religious holiday allowance, and so on.
To understand the appropriate salary and benefits that suit the culture in Indonesia, you can collaborate with services such as Abhitech or do independent research.
Reliable Employer of Record (EOR) Service in Indonesia.
Employer of Record (EOR) has in-depth knowledge of local salary standards and benefits packages. They can:
- Conduct market research to determine competitive compensation in the local market.
- Offer comprehensive benefits packages that include healthcare, retirement plans, insurance, and local allowances such as THR (Hari Raya Allowance).
- Manage payroll efficiently, ensuring that all compensation and benefits are delivered accurately and on time.
3. Focus on building and developing a strong business brand
You also have to ‘show off’ your company a little,
With the aim of helping convey clear communication messages about your company, the values you hold. So that it makes other talents interested and see that there are valuable opportunities in your company.
image source: Freepik
You can use social media such as Instagram, Facebook, Linkedin, Twitter and so on. This is not only useful for increasing awareness of your company for potential customers but also for talents who feel they have the same values as you.
Based on articles from Glassdoor 79% of job seekers are likely to use social media in their job search.
And if you read data from Linkedin The Ultimate List of Employer Brand Statistics
55 % of recruiting leaders worldwide have a proactive employer brand strategy.
Employer of Record (EOR) can assist in enhancing your employer brand by:
- Managing local HR operations and ensuring that your company values are reflected in everyday practices.
- Providing support for local marketing and employer branding initiatives.
- Helping you craft messages that resonate with local talent and align with cultural norms.
4. Shorten the interview process
According to the Candidate Experience Report said that prospective employees turned down job offers because of a bad experience, two out of three said their experience was negative specifically because of poor communication.
Other reasons why they decided not to take the role were a lack of transparency (41%), a hiring process that was too complicated (40%) or a hiring process that was too long (40%).
It’s clear that candidates are looking for a seamless hiring experience that takes up as little of their time as possible rather than jumping through complicated hoops for prospective employers.
An interview process that is too long will not help you find the most suitable talent, it can actually make talents who are suitable for you go to competitors.
A recent survey by Gartner found that nearly 50% of job seekers are considering at least two job offers simultaneously.
Employer of Record (EOR) can streamline the hiring process by:
- Coordinating interviews and ensuring smooth communication between all parties.
- Implementing efficient hiring practices that reduce time-to-hire.
- Providing candidate management tools that enhance transparency and communication.
5. Help them with Visa and Relocation
If you open a company in Indonesia and need Indonesian talent, this may not be a problem, but in some cases your company may still need several international teams to manage your new company in the early stages.
Visa processing can be a bit of a hassle if there are foreigners who want to work in Indonesia.
Learn More: Managing Visa Business
As a company, you can ensure that employees who are moving are easily assisted, with recommendations on where to live and so on, so they can immediately focus on work.
Employer of Record (EOR) simplifies the visa and relocation process by:
- Handling all aspects of visa application and processing for international hires.
- Providing relocation support, including assistance with housing, local orientation, and settling-in services.
- Ensuring compliance with local immigration laws and regulations.
Hire International Talent: For Expansion using Employer of Record (EOR)
6. Work with companies that help with Employer of Record (EOR) to Attract Global Talent
A worldwide Employer of Record (EOR) service functions as your official employer for international hires, managing intricate responsibilities such as payroll and taxes across different countries. This simplifies the hiring process and reduces risks by guaranteeing compliance with local laws. By delegating these tasks, you can concentrate on core business functions while tapping into top talent globally.
image: Freepik
A provider like Abhitech can greatly assist your business in attracting premier global talent through several means:
- Legal Compliance: They navigate intricate legal landscapes to ensure adherence to regional and national labor regulations. By ensuring that employment agreements, benefits, and payroll align with local standards, they enhance the appeal of job offers to potential candidates.
- Comprehensive Benefits: Employer of Record (EOR) often offers extensive benefits packages tailored to local needs, including healthcare, retirement plans, and insurance. Access to such benefits enhances the overall compensation package, making it more enticing to top talent seeking stability and security.
- Local Support: An Employer of Record (EOR) provider can provide localized support to your international staff, serving as the official employer in their home country. This local presence can reassure employees, offering access to on-the-ground assistance and expertise, especially valuable in unfamiliar business environments.
- Cultural Awareness: Global Employer of Record (EOR) providers are well-versed in diverse cultural nuances, offering valuable insights into cultural considerations when recruiting and working with individuals from various backgrounds. This enables you to foster an inclusive work environment that resonates with top talent from diverse cultures.
Overall, partnering with a global Employer of Record (EOR) provider can significantly bolster your ability to attract top talent by ensuring compliance and offering comprehensive support across different parts of the world.
Conclusion to attract global talent
Attracting global talent has become a primary objective for numerous companies, given the increasingly competitive landscape.
To stand out in this competitive environment and attract top talent, companies must focus on various factors beyond just monetary compensation. Work-life balance, for instance.
For companies expanding into new territories like Indonesia, navigating visa and relocation processes can be challenging. Collaborating with companies like Abhitech can streamline these processes, providing valuable assistance to international hires.
Additionally, partnering with a global Employer of Record (EOR) provider such as Abhitech can ensure legal compliance, offer comprehensive benefits, provide local support, and promote cultural awareness, ultimately enhancing the company’s ability to attract and retain top talent worldwide.
To delve deeper into Employer of Record (EOR) formalities and other essential aspects of global talent acquisition, you can explore resources available on Abhitech’s website here.
