The remote working model has given employees the opportunity to work from anywhere in the world and helped organisations “go global” almost instantly. However, while it has been beneficial for employees to work anywhere, anytime, global employment also presents great opportunities for companies looking to close skills gaps in their own workforces, and making them highly sought-after workplaces.
The recent PANGEO Conference, the largest global employment conference in the world, shone the spotlight on how organisations can thrive in the new world of global remote work and depicted a multitude of trends we will see emerge in the coming months and years post-pandemic.
The Migration Agency’s Director Sarah Thapa sat on a panel to discuss mobility, compliance and why adopt a “glocal” over global approach, one of the trends that will shape the future of global employment.
In this blog, we will showcase the top 5 global employment trends that are moulding the new world of high-performance teams, employment and remote work for employers.
Culture and technology are key drivers to future success
Today’s workforce has become increasingly decentralised and highly mobile. While technology is now a driving factor in facilitating the mobile workforce, the desire for flexible working arrangements is on the rise too.
Did you know, 77 percent of people would consider a company’s culture, mission, and purpose before joining the team. The pandemic has shown that technology, culture and effective leadership are critical in building high-performing diverse global teams. The digital transformation has also brought with it new communication and remote working tools that can help leaders develop a company strategy focused on attracting, retaining and managing the best global talent in the world.
Employer branding is not an afterthought
Today’s labour market is changing at lightning speed and companies are now realising their employer brand is a key element to standing out and competing for the best talent. Establishing an employer brand is now seen as critical to attract and retain the best people for the job. A positive brand is crucial, as it signifies the company is a good employer and a great place to work.
People are now not just looking for a job; they seek a meaningful experience and want to make an impact. Companies must pay special attention to communicating their values to align with those of their potential employees through their employer brand.
It’s time to go glocal not global
A glocal perspective is a multi-local approach that considers each market’s specific requirements before incorporating these variables into a organisation’s talent mobility strategy. A one-size-fits-all approach is no longer a viable option as taking a global approach can create significant risks to an organisation if the approach isn’t adapted according to the particular needs of each market.
A glocal approach can significantly reduce risks of non-compliance with local laws, and allows companies to better align their immigration program with their own objectives. For example, when Australia imposed strict border restrictions, the Australian government created special pathways for people working in critical sectors.
A company with a glocal approach can be more responsive to local challenges that arise. For example, at the outset of the Covid-29 pandemic, TMA was strategising with clients to devise responsive and pragmatic solutions, to pivot their talent mobility strategy according to what was happening in the local market. TMA was successful in adjusting it’s approach according to local nuances and utilising special pathways for our clients to repatriate or mobilise staff to keep their companies moving forward during the pandemic. This was at a time when mobility as we knew it ceased and the world went into lockdown.
Organisations using outdated one-size-fits-all mobility strategies may have seen their immigration program come to a standstill because they weren’t able to respond quickly.
Global employment trends: READ MORE: Future-Proof Your Business: Scale, and Hire Globally and Compliantly
Mobility has new-world compliance challenges
Recent advancements in remote work present a window for growth. But failing to understand how to expand compliantly and the risks involved could be harmful. International hiring creates new legal processes, HR, payroll and tax procedures for your HR, legal and finance teams that require country-specific counsel, potentially slowing growth.
Are you compliantly hiring global talent? Can you avoid legal pitfalls and abide by employment and tax regulations? Do you know the latest immigration policies to aid relocating employees?
As a company grows globally, they may benefit from bringing international employees on board. Hiring global employees offers many advantages for organisations, including insights into the local culture and useful in-country business connections.
However, building global teams can be a complex process and involves many compliance challenges including entity setup, hiring, on-boarding, financial reporting, and payroll are just a few compliance issues companies often face if they’re unprepared.
Gen-Z has joined the game in a big way
Sixty-four percent of all humans on Earth right now are either millennials or Generation Z and data now shows Gen Z will make up over 27 per cent of the workforce by 2025.
Business is changing and Christina S Ahn, Managing Director at Morgan Philips Korea believes millennials have begun to take on senior management roles in organisations and it’s signalling a societal shift towards a very different way of hiring and managing people.
Meanwhile, RDI Chief Executive Officer and Founder Gordon Dudley notes how companies will soon prioritise performance over experience in light of the growing number of Gen Z talent.
“Organisations that promote talent and are very performance-driven will simply cultivate the best person for the job. And that doesn’t necessarily mean the person with the most years of experience,” Dudley said.
Thrive as a glocal company with TMA
Now is the ideal time for companies to prepare for a new phase of globalisation where advanced, long-term strategic practices are required to thrive at the global and glocal levels. For the company that sees global opportunities, the recent advancements of remote work present the perfect window for growth, however, to grow successfully with global talent you will need a migration partner such as The Migration Agency. To work with us on your immigration and global talent program, please get in touch today.