Why should a company hire foreign talent?

 Aditi Banerjee, Co-Founder, Magic Billion

Typically, clients who use Magic Billion’s services to hire foreign talent, do it with one overt objective – their cities/countries are short of the kind of talent they are looking for but business needs demand talent for those roles, so they are looking to close the deficit from other countries.

In my opinion, this is a bit short sighted. Our truly “favourite” companies are those who hire foreign talent with the following three aspects in mind (in addition to the point above) – I don’t have scientific evidence for these points but these are basis my discussions with clients and my own experience having worked in four multicultural organisations:

1.     New perspectives to grow existing business lines – this can help jumpstart a business line which is plateauing or worse, declining. Hiring foreign talent will definitely enable a fresh outlook – given their experiences – which are most often unique especially for a traditional domestic company;

2.     Increase in overall team morale and productivity – with a rich exchange of ideas between domestic and foreign talent, and the right alignment of skills to talent, overall productivity of the team and company increases. This further attracts good talent to join the company, creating a virtuous cycle.

3.     Signalling effect – if you have international clients, having foreign skilled talent in your team is a big plus. It shows that you’re ahead of the game, progressive and not stuck in traditional ways of working or mindsets.

While majority of large companies have become multi-national and multi-cultural, we are seeing the same – fortunate - trend slowly seep into the small and medium companies as well. Despite governments in some countries becoming inward looking and nationalistic, ambitious businesses thinking about global growth are embracing hiring foreign talent – and will continue to find ways to do so. We, at Magic Billion, stand ready to support such ambitious and forward-thinking companies!

Location: Amersham House, 34 Craven Rd, Bayswater, London W2 3QA, UK

Comments

Post a Comment

Popular posts from this blog

Why should a company hire foreign talent?

  Aditi Banerjee, Co-Founder, Magic Billion Typically, clients who use Magic Billion’s services to hire foreign talent , do it with one overt objective – their cities/countries are short of the kind of talent they are looking for but business needs demand talent for those roles, so they are looking to close the deficit from other countries. In my opinion, this is a bit short sighted. Our truly “favourite” companies are those who hire foreign talent with the following three aspects in mind (in addition to the point above) – I don’t have scientific evidence for these points but these are basis my discussions with clients and my own experience having worked in four multicultural organisations: 1.      New perspectives to grow existing business lines – this can help jumpstart a business line which is plateauing or worse, declining. Hiring foreign talent will definitely enable a fresh outlook – given their experiences – which are most often unique especially...
Read more

Post COVID world – what would the hospitality sector look like?

  Blog by Aditi Banerjee, Magic Billion Consider these statistics [1] : ·         France : In March 2020, lock down measures resultedin the closure of 75,000 restaurants, 3,000 clubs and 40,000cafes, affecting 1 million employees who have been placedunder technical unemployment. These numbers have gone up since. ·         UK : 80% of workers in the hotel and food industries were reportedto be on furlough schemes and about a third of jobs were atrisk in the longer term. ·         USA : 2020 projected to be the worst yearon record for hotel occupancy leading to immense joblosses. Since the beginning of the crisis, nearly 1.6 millionhotel workers have been laid off or furloughed and 3.9million hotel-supported jobs have been lost. Suffice to say, the impact of coronavirus on the hospitality sector has been staggering . National governments across the world have been annou...
Read more

India- The Global Talent Powerhouse of Software Engineers and Developers

My first connect with the world of software developers and the engineers was a decade ago, when as Head of Standards of National Skill Development Corporation (NSDC), I worked with NASSCOM to create the NASSCOM IT Skill Council. It was then that I interacted with Heads of numerous IT Companies, both Indian and Global, and came up with the design of the Skill Council, which today is the Nodal Agency for technical certification, and development of software developers and the engineers in India. Since then, we have been closely tracking the growth in quality and scale, of Indian software developers and the engineers .   Today's world as we know it, is driven by technology. Technology is the enabler for all industries whether it is manufacturing, services or agriculture. New hardware and software technologies enable us to use our mobiles better, devices in the kitchen better,and industrial appliances better. Galloping technology has permeated our very lives, and every day, there...
Read more