Unemployment in Canada hit a record 40-year low in 2018. The unemployment rate in the United States has been trending lower over the past couple of years as well.
Amid this, there are also headlines about how employers in many different industries are facing talent shortages. Manufacturing is projected to have tens of thousands of open positions over the next few years. The same is true of those in the tech industry. Positions like customer service representative, administrative assistant, and others remain in high demand.
What does this mean for your business as you try to expand into new international markets? It means you’ll be facing tight labor markets and intense competition for top talent in any industry, for any position.
With that in mind, you’re likely wondering how you can find the best international employees and get them on your team. This guide can help you with that.
Define Brand Values and Company Culture
More than ever, employers must think about their company “brand” when they enter a job market.
You may have thought about branding before, but this conversation usually appears in discussions about the image you present to your customers and clients. Why do you need an employer brand?
Since labor markets have been tightening up, it’s imperative to communicate why job seekers should work with you, not your competitors. You need to define your brand as an employer. What do you offer to the people who join your team?
Some companies pride themselves on their competitive edge, offering their employees a challenging environment where they can grow and success is rewarded. Other companies have a more nurturing brand, offering employees robust benefits packages and flexible working hours. Other companies showcase decades of leadership, stability, and trustworthiness. New companies may show they’re innovative and versatile.
Whatever category your company fits into, you must think long and hard about your brand and what you offer job seekers in international markets. Tell them why they want to work for you.
The next thing you should examine when you’re seeking international employees is the compensation package you offer. You’ll need to do some research. What are other businesses paying for talent in similar positions?
If you can’t offer high wages, don’t worry. There are other ways to compensate employees. You may offer better health insurance in the US market, or you could offer access to a better pension plan. Flexible working hours, more vacation, sick days, and more can all be enticing to potential employees.
For international employers, knowing what makes a competitive compensation package can be tough. American companies entering into Canada, for example, might offer great health insurance and 401Ks to their US employees, but the benefits market in Canada is very different. What do Canadian job seekers actually want?
Teaming up with a professional employer organization (PEO) or another provider could be helpful. Since they know the market, they can guide you to the benefits your new international employees want and expect. They may also be able to help you access more affordable benefits programs for your business.
Work with a PEO
In addition to getting better benefits for your international team, a third-party provider like a PEO can help you build your international team.
The experts on their team are familiar with the labor markets you’re competing in, so they can help you design better job postings. With those revised ads, you’re more likely to attract the attention of top talent. They may be able to help you revise the language you’re using to coincide with the terms used in the market, which helps you get the right applicants every time.
The team at a PEO is made up of experienced HR professionals, so they can help you define a better hiring process. They may even be able to help you screen applicants or conduct interviews.
They can also assist you in ensuring you stay compliant with local employment laws. In some places, certain interview questions are no longer permitted. In New York, for example, employers cannot inquire about salary history.
The PEO acts as your co-employer. You retain control over the final hiring decision. The PEO will help you discover the right talent at every stage.
Keep Top Talent on Your Team
Another reason working with a PEO is a smart move is that it could help you keep those talented employees you do hire on.
Your partner provider will work with you to provide better training and development opportunities for your employees. They also deliver payroll, help you offer better benefits, and ensure you’re complying with the law.
All this can lead to higher employee satisfaction. Your talented team members are less likely to leave and more likely to be productive.
How does this help you locate the right people? Training and development opportunities are key for many younger employees. They want to know that companies are going to invest in them before they’ll invest in your business. They also want to know that there are opportunities to grow and learn new skills. They want to develop careers.
Your PEO provider can provide a better experience through the hiring process and onboarding stages. With their assistance, you can offer a more streamlined, positive experience for your new team members. Satisfied employees also help spread the word, recommending your business to their friends, families, and co-workers.
It’s Time to Get Top Talent on Your Side
Hiring and retaining employees are challenging processes at the best of times. If your business is expanding into a new international market, you don’t need to go it alone.
If you want to get top talent on your team for the long haul, it’s time to get in touch with a PEO. With the right help, you can find the right talent to help your business grow beyond borders.