The recruitment industry in the UK is currently enjoying its most significant rise in seven years, which is why we were so interested in the article written by The Recruiter Link community for RecruitmentBuzz. Quoting statistics that show the sector is now worth more than £26.5 billion, it forecasts growth by an additional 9.5% by the end of the 2015-2016 financial year. As a result, 72% of recruitment companies are reporting business expansion.
However, as the industry flourishes, many recruiters are identifying ways in which to expand their operations overseas as well. Recruiter Link provides several recommendations that recruiters should consider if they are looking to set up foreign operations.
Traditionally, many talent seekers were forced to turn down international work offers. However, establishing overseas operations and markets nowadays is easier, according to the article. One reason for this is that today, working with foreign partners does not require setting up an office in an overseas location.
The recommendations also focus on the notion of honesty, stating that being honest is a must when embracing international operations. Since the talent seeking industry is highly competitive, having a strong local presence is a must before looking to expand internationally, Recruiter Link advises.
Recruiters must have a clear picture of where they currently stand in their local market and be clear about their market share. Also, they should have an idea of whether their local market is contracting, expanding or on a plateau.
Another aspect on which recruiters should focus is research. When considering foreign expansion, talent seekers must do their homework on particular locations. They should be familiar with trends such as talent availability, support structures, risk levels, market segmentation, growth opportunities and their competitors’ state of operations.
But despite having this information, a lot of recruiters are faced with a variety of issues when launching their overseas expansion. One reason for this is that some recruiters tend to over-emphasise external factors such as employer trends or the competitive landscape. Moreover, they tend to underestimate substantial variables that affect their expansion plans.
In order to be successful, talent seekers must understand specific regional employment legislation, the policies of the local government as well as other local socio-political considerations. In addition, supplier relationships and the state of the local currency should also be understood.
Recruiters should always aim to forge partnerships on the international talent seeking arena. Current technological advances have made this process seamless. It is now much easier for HR professionals to connect and cooperate with various counterparts globally. Since each country is unique in the way it deals with business and legislative operations, having a local partner is a great advantage, the article says.
Expanding a business internationally and diving into overseas markets can surely boost the business results of a recruitment agency. However, before embarking on this process, talent seekers must be absolutely sure that they are prepared. This means having access to the right individuals and resources at different global locations and markets. If this is achieved successfully, recruiters will have a solid ground on which to build a strong international presence and enjoy their business achievements, Recruiter Link states.
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