Navigating Compliance and Talent Acquisition in a Shrinking Talent Pool
In today’s fast-paced global mobility sector, companies face a growing challenge: finding and retaining top talent in a shrinking talent pool. This was the central theme of “xpath.Nexus: EP.14,” where experts discussed strategies for navigating compliance and talent acquisition amidst this competitive landscape.
The demand for skilled professionals is at an all-time high, particularly in specialized sectors like technology and engineering. Madalina Andrei, a former Global Mobility Coordinator and current Provider Relationship Manager with xpath.global, highlighted that businesses are struggling to find the right talent. The competition for skilled workers is fierce, making it crucial for companies to adapt their hiring strategies.
Atirek Gautam, a seasoned expert in global talent acquisition, shared insights on managing hiring strategies in a shrinking world. He emphasized the importance of engaging passive candidates, who make up 80% of the talent pool. Gautam suggested using advanced algorithms to identify potential candidates and initiating dialogues with them. He also stressed the value of reskilling and upskilling existing employees to meet evolving job demands.
The COVID-19 pandemic has reshaped workplace norms, with many employees preferring remote work. Percy Grenardo, another panelist, noted that the shift towards remote work has made it more challenging to attract and retain talent. Companies must now offer flexibility and consider work-from-anywhere policies to stay competitive. This change reflects a broader trend towards prioritizing work-life balance and job satisfaction over traditional workplace benefits.
Ira Lemmetyinen, an expert based in Madrid, highlighted the compliance challenges associated with international recruitment. Different countries have varying regulations around salaries, qualifications, and work permits, which can complicate the hiring process. Companies must navigate these compliance issues carefully, especially when hiring from different markets with disparate salary expectations and legal requirements.
The discussion also touched on the increasing role of freelance and gig workers in the job market. Many professionals now prefer the flexibility of freelance work over traditional employment. According to a recent survey, 77% of executives believe freelance and gig workers will significantly replace full-time employees in the coming years. This trend poses both opportunities and challenges for companies, particularly in managing compliance and ensuring consistent quality of work.
Retaining talent requires more than just competitive salaries. Gautam emphasized the need for companies to offer tailored rewards and benefits that align with the aspirations of different generations in the workforce. This includes providing opportunities for professional growth, work-life balance, and job satisfaction. Companies must build an inclusive culture that values employee well-being and fosters long-term loyalty.
The global mobility sector is undergoing significant changes, driven by shifts in employee expectations and the increasing scarcity of talent. Companies must adapt by embracing new workplace norms, addressing compliance challenges, and offering flexible working conditions. By focusing on building a positive and inclusive work environment, businesses can attract and retain top talent, even in a competitive market.
As we continue to navigate these challenges, staying informed and adaptable will be key to success. The insights from “xpath.Nexus: EP.14” provide valuable guidance for companies looking to thrive in this evolving landscape.
To learn more about xpath.global’s global mobility management system, book a meeting here: Book a demo – Human Resource Professionals – xpath.global
