Recruiting global talent is becoming increasingly competitive over time. As a recruiter or employer, it is essential to understand the trends when recruiting global talent. According to the recently published Global Talent Competitiveness Index, here are four key points for recruiting global talent in today’s markets.
- Movement of Jobs. People have commonly been moving to jobs and opportunities. However, jobs are now consistently moving to where the talent and skill is. Several countries including China, South Korea, Slovenia, and Turkey, have started to attract the attention of international investors. This is due to the creative talent that is provided at a reasonable cost.
- Competition. The competition for attracting talent may become increasingly relentless among new talent hubs such as Indonesia, Chile, and South Korea. This is opposed to the previous attraction to the United States, Singapore and Switzerland due to more workers aspiring to join increasingly attractive destinations. More specifically, cities and regions are becoming critical players in the competition for global talent. Agility and branding of cities appear to be more critical differentiators than size, as large cities continue to adopt new and creative policies to attract talent.
- Replacement of Workers. Robots are more frequently replacing low-skilled workers, while algorithms are replacing more knowledgeable workers. As technology continues to redefine mobility, it directly affects knowledgeable workers by compelling more workers to work virtually for different employers from home, and makes it more likely for people to move to obtain a job.
- Management Practices. An important differentiator in global talent attraction is the professionalism of management and investment in the development of the employees. Along with these practices, monetary incentives and standard of living play a key role as well.
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