‘The world is your oyster’ – this phrase stands true to recruiters, especially those who are hiring globally. Truth be told, the world is shaping differently post-pandemic and with a surge in tech talent demand, businesses and companies are going above and beyond to hire the best talent.
One can say, the trend of hiring internationally is not just a trend and is definitely not temporary. This can only be called a competition and a rather fierce one due to the shortage of software developers and tech talents in Europe, Japan and the USA, to name a few. According to a study, Germany alone needs at least 260,000 immigrants – per year until 2060 to keep the demographically caused decline in the labour force potential within a manageable range to just about cover the forecast demand for labour. Now, not all immigrants are going to work in IT; however, it highlights the increasing demand for skilled workers. Another report by Korn Ferry shows that there will be a global talent shortage of 85 million by 2030. That’s roughly the population of Germany!
But apart from the well-established fact of an invariable proportion between the demand and supply chain of technical candidates, here are a few reasons why hiring internationally might actually be the right and more beneficial choice to make:
- Bridging the demand gap: Tech talent shortage is real. Sourcing and hiring from outside the local and national talent pool only make the chances of hiring better talent greater. Think of it like fishing in a bigger lake. A software engineer from India, a product tester from Singapore, a front-end developer from Turkey and a project manager from Iran come together to not only make a team that fulfils the business needs but also brings with them a wider range of perspectives and experiences.
- New talents bring new perspectives and new skills: Technology is evolving every second. What is a new skill today can be marked as old or obsolete tomorrow. Hiring global talent makes evolving easier as they bring fresh perspectives on board. From Java to Golang, from AngularJS to React.js – international talents change and adapt according to the need of the hour. Thus, by hiring international tech talent companies get to have access to these advantages and bring them to their teams.
- Cost-effective in many ways: This is specifically relevant if a company hires virtual employees. The set-up costs for remote workers with desirable skills are lower, it cuts on commuting costs and further living expenses. But that’s not all, with remote hires being one of the trends, companies save on opening new branches in other countries. With more and more companies embracing the ‘work-from-anywhere’ culture, they can also cover more time zones and reach a wider audience with their products or services.
- Saving time and money from offshore outsourcing: Time is of the essence! Businesses need everything now, if not yesterday. Gone are the days when companies would open branches in a country far, far away just to manage their back-end operations. We saw the trend shift when many international companies would consequently outsource their projects to local companies in developing countries. But this resulted in high off-shore outsourcing and setup costs, a lot of to’s-and-fro’s, compromised quality and were in a time crunch. However, post pandemic, if companies find tech talent that fits their requirements, they waste little to no time in expanding their horizon and offering them jobs with either assistance in remote work set-up or relocating them altogether.
- Key solution in the long run: Migration of the work-force through immigration or relocation is part of a solution to tackle a real-time problem that Europe is facing – decline of the population due to ageing and slower reproduction rate. Immigration is part of the solution to deal with these demographic changes. So, irrespective of the talents working on a pay-per-project basis or on a long term job contract, hiring globally works in favour of widening the talent pool and achieving bigger goals together.
If you’re looking for new job opportunities, would it be remote or on-site, we can help you find the right place based on your talent and expertise, check our open positions.