Several trends are making it hard for global employers to hold onto workers, and the problem is not likely to let up soon. But companies with a good understanding of what motivates employees can take steps to increase engagement, upping the odds that workers will stick around.
Recruiting, developing and retaining talent are fundamental to the success of any business. And in today’s global economy, where businesses often find they must expand globally to compete, you may have to attract and hire talent in an unfamiliar country. As global HR veterans know, recruiting employees abroad is even more challenging than recruiting at home, largely because related laws and customs vary considerably by country. Before you recruit local nationals (i.e., citizens of the host country) you will need to devise a recruiting strategy that accounts for the laws, culture and market practices of your target countries. This post focuses on some important areas you should consider when developing such a strategy, both to stay on the right side of local laws and to attract top talent.
Organizations must ask themselves if their workforces have the skills required for new production methods and client interactions. And industry leaders must ask themselves what new trends and developments are driving what their industries do and how they do those tasks, along with whether their industries are fading or ahead of the curve. We must all try to understand what roles and skills will continue to be relevant and what new roles and skills are likely emerge.
International expansion for young and fast-growing companies is a tricky proposition for a variety of reasons. Uncertainty surrounding revenue, profitability and market position can lead to conflicting priorities between management and board members. Furthermore, responsibility for managing rapid growth is rarely evenly distributed within an organization, and certain teams such as HR, finance and legal may be understaffed and overwhelmed by the administrative burdens associated with international expansion. Regardless of company size or profile, an organization generally decides to expand its international footprint for one or more of the four following reasons.
As businesses increasingly compete globally for the best and brightest workers, some governments are pushing back to make sure locals don’t get left by the wayside. Many countries are tightening their immigration laws, while others — particularly those facing a decline in working-age population — are liberalizing them. It’s important to stay on the right side of these changing laws: penalties for breaking them range from “snap audits” by the authorities to fines, imprisonment and loss of the right to sponsor future employees. Here’s a look inside the immigration kaleidoscope in 2015.
Countries around the world are grappling with change as work increasingly goes mobile. While workers in the US — particularly millennials — are clamoring for a more flexible workplace, the picture abroad is murkier, with some countries moving in the opposite direction. Companies that plan to send employees overseas need to be aware of the differences and prepare workers for organizations that view white-collar working hours in a very different light from their counterparts in the US.
Use of labor dispatch services in China has increased significantly in recent years. For that reason and others, there is a widespread perception that many companies operating in China have been using the practice to circumvent costly Chinese worker-protection laws. In response, China authorities recently amended the country’s 2008 Labor Contract Law governing labor dispatching.
By Bill Thomas, Executive Vice President and Chief Operating Officer
When American businesses venture abroad, they face serious challenges: ensuring compliance, managing tax implications, and aligning their goals with the local culture. According to CFOs and senior finance executives who participated in a recent survey conducted jointly by HSP and our partner CFO Magazine, those challenges only grow when a firm’s expansion takes it into emerging markets.
By Bob Lammey, Senior Director Higher Education and Nonprofits
By Rich de la Rosa, Director, Advisory Services, Americas
Our recent webinar Gateway to Asia: Getting Started in Hong Kong and Singapore encouraged a lot of discussion. There were several interesting questions from attendees for HSP's Asia experts; here are some of the highlights, and answers.