How to attract expats in tough markets?

November 12, 2014 12:58 pm Published by

How to attract expats in tough markets?In the world economy, where developed countries like the UK and USA are leading the global influences, there are many others in league that are just a few miles away in the race. On the contrary, there are countries that have potential opportunities to grow, but are struggling through acute shortage of skilled manpower. Unstable economic structure, lack of right talent and global influences are some of the specific reasons that might make hiring a little difficult in tough markets.

But can these economies be left ignored? If yes, then what about the opportunities therein? How will these tough economies grow to match the global competition? Well, Recruitment is from where they can give a start. With the right talent onboard, any firm can win the race. In today’s scenario, where global migration is a growing trend, manpower mobility is more flexible and easy. This clearly indicates that candidates are willing to move out of their geographical boundaries for better living standards and job opportunities.

Developing nations struggling through tough markets need to center on how to channelize this opportunity in order to attract expats. This requires you to promise them a challenging profile that provides opportunity to grow and offers financial security at the same time.

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Security: There are many countries like Afghanistan, Iraq, Somalia that portray unsafe image due to hostility embraced therein, but up-for-grab infrastructure and mining contracts are still successful in attracting many expats from Europe, China, Africa, etc. Corporate in these countries must focus on highlighting the strict security measures taken to safeguard expats and their families. This will boost their confidence and will reduce the chances of back outs.

Opportunities: Growing countries are now a focus point for many multinationals that are looking to extend their wings. This clearly indicates growing opportunities therein. Corporates should try to highlight the growth aspects of working with promising profiles in these countries, so that more candidates are willing to apply.

Benefits: Danger pay or better say a lucrative bonus added to the regular pay attracts many expats to take up the challenge and work in tough economies. In today’s competitive talent market, companies are opening up to welcome expats and retain them through benefits like medical and health facilities. To make the profile, attracting enough, it is recommended that you offer satisfactory employment benefits to your potential employees. This would act as a lucrative factor in grabbing the most suitable talent across globe.

Government Support: Government policy against expats is one of the most concerning factor for candidates going overseas. If they find government policies supportive, the probability of back-outs is reduced to a great extent.. So if you are hiring an expat, it is important to highlight the support that they would get through the government.

Legal aspects: Some countries are lucrative in terms of opportunities, but are not liberal in allowing easy entry to global candidates. With strict immigration standards, candidates find difficult to switch to these nations. So if you’re offering a job in a country that allows easy entry and exit for international talents, you could get preference from candidates.

To sustain and succeed in tough markets, global vision with strong reach across countries can be the biggest advantage to you. World is shrinking with technology and you can have an easy reach to talent pocket economies all around. A local person would never be able to know the art of fetching candidates from such a massive talent pool. It takes lot of time, money and expertise to conduct it in-house. On the other hand, hiring a professional global recruitment firm will potentially meet your needs. They have the skills and an extensive database of candidates all around the world. So what is your plan to attract expats?