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Jan 06

Thinking of Expanding Internationally? How to Make Foreign Regulations Less Terrifying

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Business is good. You’ve established your business domestically, and you’re doing good work. But the demands of your industry require expansion. You’ve already tapped into much of the talent available locally, so it’s not just a matter of creating more office space. At the pace you’re running, it’s time to onboard new employees — and fast.

Perhaps it’s time to consider hiring internationally. While the thought of international expansion may be daunting, it’s doable. If you focus on why you’re expanding, you can grow strategically with less pain and suffering. Review these four tips as you draft your international expansion plans, and you’ll boost your hiring confidence in no time.

 

1. Identify Your Target Hires

Just like any recruitment effort, you’ve got to know what type of talent you’re targeting. It may help to identify your current talent gaps and where you struggle to secure domestic hires. For instance, it might make sense to home in on your team’s significant customer service gap. Once you’ve done that, you can identify countries with a high concentration of that type of talent available.

You can research talent hotbeds using human resources guides or tap into the expertise of dedicated professionals who support international hiring efforts. If you find many bilingual customer service professionals in Mexico, it might make sense to focus your efforts there. That way, you can focus on regulations in one particular area rather than learning about employment rules everywhere.

 

2. Get the Right Support System

Becoming a global expert on employment regulations likely isn’t on your list of things to do. You’re going to need support. It’s reasonable to expect that you will need an expert on your side. One way to achieve this is to partner with an employer of record to hire talent on your behalf. They take responsibility for all of the paperwork and employment regulations associated with international hiring.

Don’t worry — using an EOR doesn’t have to be expensive. Usually, the cost of their services is built into the total contract agreement, much like a recruiter for a domestic job. Your new international employee gets paid just as they would regularly. And you’ll support them with the right benefits and compensation package relative to their home country and its requirements.

 

3. Learn What You Need to and Forget the Rest

You may feel the pressure to learn every aspect of your business. But just as in life, we can’t be an expert in every area. Let’s face it — it’s probably taken much of your career to become familiar with the requirements of hiring stateside talent. Now add in regulations in different countries, and it can be overwhelming. Focus first on the core things you need to understand.

For instance, some countries may have different work hours and expectations with regard to breaks during the workday. Others may expect certain benefits or paid time off based on their country’s way of life. Familiarize yourself with these components, as they will come up throughout the year as you work on scheduling and workload management. Leave the rest to your external partners to help you get international hiring done.

 

4. Focus on Developing an Attractive Employment Opportunity

It’s all well and good — in fact, it’s necessary — to make sure your international hiring practices are compliant with local regulations. But when it comes to attracting talent, what do you have to offer over the rest? Put yourself in the place of your international candidate. Considering an overseas opportunity with an organization that has never hired outside of their home country can be scary.

Make sure that you offer a compelling employment opportunity. Back up your offer with a sense of security that seals the deal. Review your employment opportunity and consider whether you’ve accounted for candidate expectations. You’ll want to have everything in order before you hit “post” on your job opening.

Ensure your HR and leadership team are ready to integrate these new employees into your organization. After all, employees cite poor onboarding as a significant source of anxiety and stress. Proper planning for integrating new employees and the existing workers causes less confusion and potential turnover.

 

Boost Your Company’s Talent Pool With Global Talent

You may be ready to open up your organization to a global talent pool. Now you have a good grasp of what you need to know and what you can offload onto trusted partners. Having the right experts in your corner will make the international hiring process much less daunting.

Ideally, your open employment opportunity will bring a deluge of candidates. While it remains a tight market for employers, remote work is in high demand, particularly as we enter our second COVID winter. The flexible nature of remote employment means you can access international talent anywhere there’s a solid internet connection.

Develop a screening protocol that helps you ensure that great talent doesn’t slip through the cracks. When you’ve got your process and partners in place, your hiring team can focus on what matters. And that’s bringing in talent that helps your organization get good work done.

 

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.

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