The Global Talent Hunt: 4 Trends that HR Leaders have to consider
<p>Talent sourcing and acquisition are extremely important and have been; seen as the biggest future challenges facing both internal as well as external human capital management leaders. But when the job of building strong teams and the desired talent pools exist more specifically on a global scale then the dynamics of recruitment must change to keep pace with the competition.</p> <p>The very complex landscape of global mobility and global business strategy continues to evolve and revolutionize commerce. Workforce mobility has become a major source of obstruction, especially for multinational companies. In the wake of the global labour crisis in which the World Economic Forum (WEF) released a memorandum urging all economies to consider looking at globally skilled talent and mobility as a step towards sustainable growth (Mathuros 2010).</p> <p>Global talent mobility is a rising trend that doesn’t look to be slowing any time soon. In fact with more and more organizations realizing cost savings and increased agility this trend will only prove to further disrupt enterprise transformation. With an increasing number of companies now offshoring business processes, the primary strategic objective has shifted to creating access to highly skilled talent pools instead of merely focusing on subverting labour costs. In other words, more and more companies are part of a global talent race wherein critically skilled talent is not only sourced globally but also deployed at globally dispersed locations (Manning, Massini and Lewin 2008).</p> <p>“We live in a fast-paced and interconnected world where breakthrough technologies, demographic shifts and political transformations have far-reaching societal and economic consequences. More then ever leaders need to share insights and innovations on how to best navigate the future” &#8211; World Economic Forum, 2017</p> <p>There are 4 global trends that HR leaders need to consider in the global talent hunt:</p> <h2>1. Talent Mobility</h2> <p>&#8211; Mobile technology &amp; data: mobile technology increases communication and collaboration. More and more mobility departments rely on data analytics to improve measurements and decision-making.</p> <p>&#8211; New types of assignments: the ongoing evolution of global assignments that look more like short projects is growing in popularity. Flexible accommodation and care are steadily progressing right along with this trend.</p> <p>&#8211; Cross-cultural awareness</p> <p>&#8211; Talent management: emphasis on the emotional and psychological side of the individual experience.</p> <p>&#8211; Equality &amp; diversity</p> <h2>2. The Gig Economy and its Impact on Mobility</h2> <p>The gig economy reflects a work environment where temporary contract positions are common, and companies use independent workers to fill short-term engagements. Looking at its impact on mobility is where we see the discussion heading this year. Mobility professionals need to understand what it is and how to support this growing and independent talent pool.</p> <h2>3. Simplifying Policy Documents</h2> <p>With the continuous accessibility of apps and blogs, there is less patience, especially from millennials, for long, text-heavy documents. Infographics, animation and other visually appealing mediums are being applied to traditional HR documents – and mobility has lagged behind.</p> <h2>4. Millennials Are Reshaping Mobility</h2> <p>Low-cost policies and strategies position to increase international opportunities are becoming the norm while self-initiated moves are becoming the standard. Millennials seem to have a strong desire for an international adventure which can be supported as a means of recruiting and retaining top talent.</p> <p>With a fluid and irregular talent marketplace carving out a brand new standard in recruitment the need for Primary Source Verification (PSV) rises. PSV is the verification from the original source of a specific credential (education, training, licensure) to determine the accuracy of the qualifications. Through PSV you ensure that all your potential employees are not only who they say they are but that they are in fact qualified for employment rises. Human resource departments need to protect more than simply their company’s internal function but they must play a vital role in ensuring the company’s brand remains untarnished. By using PSV during the initial hiring and onboarding stages of recruitment companies are guaranteed to acquire only the best of the best.</p>