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Then, economic growth can resume and HR departments can return to their strategic plans, including globalhiring. Growth strategies must now include safety protocols, real-time local knowledge, and contingency plans that account for immediate global shutdowns. Written by José Montero, COO of Velocity Global.
Over the past 18 months, the majority of global businesses had to adjust their working models to keep up in the era of remote work. With the popularization of collaborative technology solutions, flexible working has become more widely embraced. Global mobility has enabled this to some degree and will no doubt continue to do so.
However, statistics show that the local talent pool is not enough to account for the demand for qualified tech professionals. In today’s employee-centric workplace, companies should reevaluate their current workforce’s needs, as employees are increasingly looking for flexible arrangements that promote work-life balance.
Globalhiring and expansion present exciting business opportunities. In this guide, we outline the pros and cons of establishing a foreign subsidiary as part of a global business strategy and suggest flexible alternatives for international hiring and expansion. Fortunately, there is a more flexible alternative.
While Walmart maintains a centralized company HR strategy, the company empowers its regional HR directors to customize their approach to account for local differences—from cultural and religious expectations to local labor laws. Buffett holds his workforce accountable to general guidelines rather than strict expectations. “We
However, global businesses can follow several basic guidelines to ensure they meet their individual goals. Create a Strategic Workforce Plan Creating a strategic workforce plan is an essential part of global expansion. Establish a Foreign Legal Entity Entity establishment is the traditional route for globalhiring and expansion.
During their interactive talk on expanding businesses through globalhiring, Suzanne McVey and David O’Reilly asked their audience what was the first thing that came to mind when considering international hiring. In order to ensure compliance, you’ll have to find a local payroll provider, accountants, lawyers, and HR advisors.
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