Hiring international talent from abroad is often necessary to find top talent. Foreign employees also have skills that benefit companies and employer in many ways. We listed a few reasons to hire from abroad.
In some industries, it's essential to think about global talent acquisition because they possess highly specialized skills that cannot be found in Finland and the talent pool abroad is wider. Also for other companies, international recruitment, and global mobility expands the opportunities to find the most suitable expert for the job. There are also many other benefits to hiring foreigners, and here are some of them.
Understanding the global market
According to this article, having a diverse workforce can improve customer satisfaction by promoting a better understanding of different customer groups.
Companies that operate globally should hire employees from different countries to improve their understanding of diverse target markets. Understanding the local market is necessary, as something that may work well in Finland may not be effective in other regions.
The globalization of the operating environment of companies also affects the skills needed in working life. The National Board of Education’s Hidden Competence highlights the important qualities that international experts should possess in today's job market.
Living and working abroad is known to increase language skills, cross-cultural understanding, cooperation, and tolerance. The publication suggests that living abroad can boost qualities not commonly linked with international experiences, like curiosity, productivity, and persistence. These qualities are especially important in modern working life.
Many foreign experts have already lived in many countries before moving to Finland, so they have very extensive international experience.
A growth mindset
Harvard Business Review says, that people who move from one country to another often have a way of thinking that can help a business succeed. Moving to a new country requires courage, self-esteem, and determination, as well as tolerance of uncertainty. People who aim to work in a foreign country are not scared of new challenges. Instead, they look for solutions to overcome them proactively.
This attitude, which emphasizes continuous development and innovation, is central to the growth of companies. The ability to adapt to a changing world is particularly important for businesses today, and immigrants certainly have experience in adapting.
HBR claims that foreign employees bring valuable diversity to companies, and research suggests that diverse teams tend to be more successful. Immigrants, for example, tend to take into account new ideas that would otherwise be overlooked.
5 Benefits of hiring foreign talent for companies
- Improved innovation and creativity
Diversity in the workplace can lead to increased innovation and creativity. When employees from different backgrounds come together, they can share different ideas and visions that can lead to new solutions to problems. A study by McKinsey & Company found that companies with more diverse workforces were more likely to innovate and develop new products and services.
- Access to global networks
Hiring employees from abroad can also provide companies with access to global networks. Foreign workers may have relationships with businesses and people in their home countries, which can assist companies in growing their influence and entering new markets.
- Increased language capabilities
Companies that hire employees from abroad can benefit from their language skills. Foreign employees can provide translation and interpretation services, which can be invaluable when communicating with clients and partners in other countries. In addition, foreign employees can also help companies develop marketing materials and other communications that are tailored to specific markets.
- Improved cultural competency
Hiring employees from abroad can also help companies develop cultural competency. By working with employees from different cultural backgrounds, companies can learn about different customs, beliefs, and values. This can help them better understand and connect with customers and partners in different regions, which can lead to improved business relationships and increased revenue.
- Increased employee satisfaction and retention
Foreign employees may face unique challenges when working in a new country, such as language barriers and cultural differences. However, companies that provide support and resources to help foreign employees overcome these challenges can create a more inclusive and welcoming workplace. This can lead to increased employee satisfaction and retention, as foreign employees are more likely to feel valued and supported by their employer.
By considering these benefits, companies can see that hiring employees from abroad can be a strategic advantage. Partnering with relocation service providers can help companies navigate the complexities of international recruitment and relocation, and ensure that foreign employees feel supported and valued in their new roles.