Globalization and Its Impact on Corporate RecruitingSEAN JOHNSTON

What is Globalization?

Globalization is the development of an integrated global economy marked by free trade, free flow of capital, and access to an international labor force Basically Globalization is the process of worldwide integration

Globalization can lead to a flow of information from around the world This can lead to integration of other cultures into the company

Globalization can lead to lower prices for consumers The competition between companies can drive prices down

More on Globalization

Globalization can lead to international cooperation This happens when different countries or companies need resources from

other regions A global marketplace leads to an increased demand for the right

candidate Companies are competing more for the best candidates

The demand for greater talent causes companies to seek outside help Companies may lack the direct knowledge about the market

How Has Globalization Changed Business

Increased competition This comes from the increased amount of choice

The increased development of technology Companies need the best technology possible to beat the competition

A greater exchange of information and labor With the increase of technology, information is easier than ever to move An increase in technology also leads companies utilize global candidate pools

How Does Globalization Impact Recruiting?

Globalization leads to a great supply and demand for candidates Different approaches can be applied to the company

More and more companies are becoming multinational This causes many to struggle in gaining a foothold in the market

Hiring the right employees can increase a companies competitive advantage The competitive advantage is increased when the candidate possess

different qualities

Further Impacts on Recruiting

Technology has shaped how staffing firms compete in a global market An increase in technology allows the firm communication efficiently across

the globe to meet the demand for talent The traditional recruiting methods are becoming obsolete

Simply submitting a resume to a company is not enough The increase in demand for talent can effect staffing in another part of

the world A programmer in Thailand can effect the staffing markets in Silicon Valley

Further Impacts

Regional needs used to dictate supply and demand Many jobs can be completed anywhere in the world now

When companies attempt to enter a new market they need the talent to maximize efficiency Utilizing local talent allows the company to be more efficient in a new market

In globalization technology determines who is most successful Having the right candidates to introduce and manage the technology is key

Why Recruiting Services are Increasingly Important

It is harder than ever for companies to find the right talent HR departments can become overwhelmed with trying to find the right

candidate Recruiting agencies have a greater knowledge of the market

The agencies have their finger on the pulse of the market and know how to find the best people for the job

The agencies can have an extended reach in the market The agency has a built in network to find the right candidate for the job

Examples of Globalization’s Impact on Recruiting

Prior to the rise of Globalization companies primarily found candidates from their region. Detroit company hired from the region

If there is a programmer in Taiwan, companies have greater access to those candidates This would effect the job market in the US as well

The company would be able to have the programmer do the same work in Taiwan that they could do here. This would increase diversity, which can increase production

Examples of Globalization’s Impact on Recruiting

From globalization there has been an increase in technology Social media and online connectivity has become more and more important

Recruiting services have the capabilities to centralize the recruiting process Some companies may not have the capabilities to maximize their recruiting

processes This has lead external recruiting processes to become more important

More technological improvements can cause companies to fall behind when finding the right candidates

How Can Recruiting Agencies Help Companies Succeed

They cover both active and inactive aspects of the candidate market This allows the companies to hire stronger candidates

They can concentrate fully on hiring the right candidate They do not have to worry about other HR responsibilities

The best candidates seek out recruiting agencies They know that the agencies can cultivate multiple offers

How Can Recruiting Agencies Help Companies Succeed

Recruiters have a deep network of candidates They have a pool of qualified candidates that allows them to move quickly

Specialty recruiters know the aspects of each job They know the real needs of the jobs, not just the necessary skills

Quality recruiters are more Consultive than transactional The recruiters work with their candidates to understand the long term

potential of the job offer

Questions?

How has globalization effected the transfer of information and labor

What can companies do to embrace globalization to improve their companies

How has globalization effected how companies find the right candidate

Questions?

How can companies enhance their global presence when it comes to finding the right candidates

What can recruiting agencies do to improve the quality of their hires

How can recruiting agencies alleviate some of the stress companies face when trying to find the right candidates

Sources

OpenPR, Buisness, Economy, Finances, Banking and Insurance. (2017, January 17). Recruitment Process Outsourcing (RPO) Market: Emerged As a Significant Aid in Curbing the Rising Attrition Rate across Several Industrial Verticals [Press release]. Retrieved from http://www.openpr.com/news/415024/Recruitment-Process-Outsourcing-RPO-Market-Emerged-As-a-Significant-Aid-in-Curbing-the-Rising-Attrition-Rate-across-Several-Industrial-Verticals.html

Sources Cont.

Bradley, J. (n.d.). Impact of globalization replaces traditional recruitment sources. Retrieved from http://smallbusiness.chron.com/effects-globalization-human-resources-management-61611.html

Metcalf, B. (2014). The Demands of Globalization—And How the Recruitment Industry Can Meet Them. Retrieved from http://www.thestaffingstream.com/2014/03/24/the-demands-of-globalization-and-how-the-recruitment-industry-can-meet-them/

Sources

VidCruiter. (2012). The Impact of Globalization on Recruiting [Press release]. Retrieved from https://vidcruiter.com/2012/09/26/the-impact-of-globalization-on-recruiting/

Metcalf, B. (2014, April 9). The Recruitment Industry and Globalization: Who Will Win? Retrieved from https://www.recruiter.com/i/the-recruitment-industry-and-globalization-who-will-win/

Bradley, J. (n.d.). HR Trends in Globalization. Retrieved from http://smallbusiness.chron.com/hr-trends-globalization-62045.html