Study shows internationalization of talent on a rise
Two years after the pandemic IESF assessed the impact beyond borders by analyzing the perception of the internationalization of work from the perspective of candidates and employers. In November 2022 IESF did a comparative study of perceptions on internationalization of talent: both with companies as well as with candidates. In this global research IESF identified the different perceptions, of companies and professionals, about internationalization of talent in the post COVID19 period. It is demonstrated that the world is ready to adapt and allows professionals to work from anywhere in the world. 92% of the surveyed candidates think it is possible for a company in another country to interest or hire them. 79% of the candidates expect to change jobs within the next two years. This represents a new challenge and growth opportunity for organizations (especially for the Human Resources industry), because now it is necessary to internationalize workforce and identify talent in different countries.
Companies can expect a dynamic candidate marketplace the next couple of years. Candidates seem very international oriented. They show ambition and are motivated to work internationally. Most of the candidates at Managing- Director level have not worked for a company in another country the last 2 years (75%). The research shows that the professionals have searched positions in other countries but did not find an attractive offer (41,6%) or never had the possibility or thought of working for a company in another country (36,7%). It seems the trend in globalization of talent is slowly but certainly increasing from a candidate perspective. The main motivators for candidates to change positions are associated with development, culture, and personal work-life balance. Factors like working remotely from home or anywhere in the world, are becoming more common since COVID. Most candidates are searching for a possible new position are in Operations, Sales & Commercial, Finances and Consultancy. Positions in HR and Marketing & Communications seem very local and culturally specific.
42% of the clients hired talent at Managing / Director level from other countries in the last 2 years. And 58% did not, and only hired locally. The job positions international candidates were hired in are: General Management, Operations, Sales & Commercial and Finance. The research shows that the main reasons for not hiring international talent were: (1) the companies did not think of the possibility, (2) they do not seem to have the right international partner, they do not reject the idea to hire international, they tried, but failed or (3) they want to but have difficulties in the process. Most clients do expect a growing need for talent at Managing / Director level within the next 2 years, especially in General Management, Sales and Operations. Most important trends organizations are adopting to ensure talent recruitment are focus on Employer Branding and a perfect candidate journey. Improving the efficiency of the hiring process to make the process faster is also important. Main initiatives of employers have focused on process efficiency, speed and enabling remote work. However, the development of initiatives that favor work-life balance appears to be of similar importance for both groups.
Respondents cooperated in this research are in 17 countries worldwide, divided over all 4 continents. The respondents in this research are directors, C-level, senior managers and professionals from different companies and industries, both men and women from different regions and countries. IESF managed a quantitative study through self-applied web surveys to (A) employers (decision makers) of relevant companies in each country and (B) candidates or professionals that are available on the market or already working.
A copy of the IESF Internationalization of Talent 2022 study is available over here.