08. Strategic Approaches to Selecting Talents in the Globalization Business Landscape

As the world grows more interconnected, global talent management is growing in popularity. Companies seek a more diverse pool of opportunities in order to strengthen their operations and bring a wider perspective. One such organization that views its personnel management practices as essential to success is Reuters, an information provider for the professional markets. However, some companies haven't done much to integrate their new hires and have instead used a global talent search as a marketing ploy. Those corporations that are jumping on the bandwagon will need to make some strategic adjustments because it appears that the former system will endure longer than the latter. (Stahl, 2021).

The MIT Sloan Management Review experts presented the six pillars of a successful global personnel management strategy in 2012. (Gertenbach, 2022).

How can these six time-tested guidelines translate to the modern, freelance workforce?

1. Alignment with strategy

It is imperative that the global talent management strategies implemented by your organization align with its overall objectives. Coordination between organizational goals and the need for human resources is ensured by this approach.

Assess the talent requirements in the areas where your multinational company intends to expand, both now and in the future. To assist a business in reaching its long-term objectives, such as entering a new market or growing global revenues by 10% over the following five years, a talent strategy should be created. (Gertenbach, 2022).

2. Internal consistency

The success of a global talent management strategy depends on its ability to permeate every stage of the hiring and management processes. If you invest in recruiting the best and brightest from all over the world but fail to give them the attention they deserve once they're on board, they may leave for greener pastures.

It is also important that your plan is consistent from one division to the next. In this approach, you can ensure that all your teams have a healthy mix of new and returning members. Then, if necessary, you can transfer members of your team to other groups without worrying about them suffering from "culture shock." (Gertenbach, 2022)

3. Cultural embeddedness

To ensure your global personnel management strategy is culturally ingrained, you should focus on attracting, developing, retaining, and mentoring employees that are excellent cultural fits for your company. Equally important is a company's openness to changing its culture to better serve its employees. 

Assessments (which may include work styles and technical skills) are used by certain firms during the hiring process to ensure a good cultural fit. Others opt to hire only based on talent and provide extensive training in areas such as teamwork and business values (Gertenbach, 2022).

4. Management involvement

Although HR or the C-suite may be where a global talent management plan is conceived, its reach must go far further than that. Managers at all levels of the organization, including those in charge of the hiring process, must be fully invested in the plan (Gertenbach, 2022).

When thinking about hiring needs, creating training programs, and preparing for the future of critical positions, managers should keep the global personnel management strategy in mind. What good is it to have access to the best minds around the globe if you aren't making the most of that access?

 

5. Balance of global and local needs

When collaborating with teams of professionals in different parts of the world, it's important to have a firm grasp of the specific requirements of different talent hubs.

If your company is established in Germany, for instance, your staff in Argentina may have varying requirements due to factors such as time zone, working hours, regional labour laws, and local economies. This must be considered with the legal norms of the countries in which you operate (Gertenbach, 2022).

6. Employer branding through differentiation

The competition for top international talent is heating up as more businesses join the global talent acquisition trend. By becoming known around the world as a top place to work, you can set yourself apart from the competition and attract top talent (Gertenbach, 2022).

As the nature of work evolves and companies adopt new mobility models to meet their objectives, HR directors must have flexible solutions to manage complexity. Using a comprehensive global talent strategy can help organizations make better, faster decisions in a changing business environment.

 

 

References

• Gertenbach, E., 2022. Global Talent Management: Key Elements, Strategies, and More. [Online]
  Available at: https://www.upwork.com/resources/global-talent-management
  [Accessed 26 November 2023].

• Stahl, G., 2021. Six Principles of Effective Global Talent Management. [Online]Available at: https://sloanreview.mit.edu/article/six-principles-of-effective-global-talent-management/ [Accessed 26 November 2023].