Insights
Considerations for Hiring Overseas
Posted August 18, 2016 in Articles
When expanding overseas, one of the primary challenges most businesses face is recruiting top-notch personnel. This is not due to a shortage of quality candidates, but rather due to a lack of the contacts and resources that are necessary to conduct a quality search.
At Mithras Investments, we work with multi-national companies worldwide on talent recruitment and retention. Here are some of the strategies we use and recommend for firms seeking to hire overseas:
1. Identify Clear Objectives
This is an important first step for both domestic and international hires, but it can take on additional importance when hiring overseas. Being able to clearly articulate qualifications, expectations, and responsibilities will be crucial to making sure that your local resources know what to look for, and to identifying any issues you might run into with respect to governmental or cultural differences during the hiring process.
2. Do Your Due Diligence
Once you identify a potential candidate, you absolutely must conduct your due diligence. When recruiting internationally, knowing what to look for and how to look for it can be a challenge, so it is generally best to work with a consultant who has human resources experience in your target country. Whether you are seeking to hire C-level executives or technically-skilled employees who will take on central roles in your company’s overseas expansion, verifying credentials can be key to both your immediate and long-term overseas success.
3. Leverage Technology
From social networking platforms to live videoconferencing, these days there are seemingly countless technological resources available for conducting candidate research and interviews. Leveraging these resources effectively can provide tremendous value when recruiting internationally.
4. Visit In Person
Both during the hiring phase and after bringing on a new employee overseas, it can be extremely valuable to meet candidates in person. You need to feel confident in your choice, and an in-person meeting can provide insights that simply cannot be obtained through other means. After you make the hire, consider spending some time at your overseas location as well. This will allow you to continue to evaluate your chosen candidate, providing guidance and oversight as your new employee integrates into your company, and learn more about the local culture and customs.
5. Address the Legal and Tax Considerations
Do you remember everything that was involved in hiring your first employees domestically? When hiring overseas, you will most likely have to go through it all over again. From hiring and termination laws to local employment tax regulations, each country has its own unique set of requirements. Making sure you comply with these requirements will be critical to avoiding stumbling blocks – and potential liability – as you move forward with your international expansion.
Learn More Mithras Investments’ Global Recruitment Consulting Services
At Mithras Investments, we help expanding companies make profitable investments in qualified executives, board members, professionals and employees. With a global network of consultants, we are able to assist companies with human resources and executive search functions worldwide. To speak with a consultant about your needs, please call (305) 517-7911 or contact us online today.
