The world is flat, and businesses have come to realize that hiring people from their immediate area is no longer enough to succeed in a global strategy.
Outsourcing has gone through several waves, with each bringing new challenges and opportunities. In the beginning, the practice of outsourcing started out as a cost-cutting measure. The image of call centers in exotic overseas locations may come to mind when you hear the word. But this view is quite dated. Modern outsourcing focuses on culture and talent.
It answers the question: who shares our company’s vision and can help us innovate for the future?
In the current global business landscape, finding talented individuals across different cultures and backgrounds is crucial to achieving organizational success. But with so many options available, how do you locate and attract the best global candidates? In this blog post, we will share some innovative and forward-thinking tips to help you build a pipeline of top talent in different markets across the world.
What makes Third Wave Outsourcing different?
The Third Wave of Outsourcing started as a mad rush for the best talent businesses could find anywhere around the world. This started in 2018 and blazed full speed ahead thanks to the sudden pandemic. Quarantines, restrictions and lockdowns were a pain but they did make businesses realize that the world is flat. Hiring people in your vicinity isn’t the best way to succeed globally. To find the best talent, businesses need to cross borders and go around the world.
The first two outsourcing waves focused on cutting costs or passing projects along to “follow the sun” like an endless productivity relay race. The Third Wave is about company culture, treating the best talent as peers, and collaboration throughout the entire work process. All the key players involved in Third Wave Outsourcing decide how to integrate each other’s work to complete the job successfully.
Unlike the past two waves, Third Wave Outsourcing is about the best talent. Companies are willing to go the extra mile for these people who align with the company’s goals and values while also being experts in their fields. Their passion, skill set and values help yout business compete and win. Through the Third Wave of Outsourcing, you can stay a step above the rest, anywhere in the world.
How to Unlock the Power of the Third Wave
- Define Your Target Markets
To start your search, it’s essential to first identify the markets you want to focus on. Begin by researching regions, countries, or cities with high concentrations of talent in your industry or niche. Consider language, visa, and relocation requirements, as well as the competitiveness and cost of hiring in each market.
- Research Your Target Markets
Once you’ve defined your target markets, research thoroughly to understand the local talent landscape. This includes analyzing the demographics, skills, preferences, and behaviors of potential candidates in each market and identifying trends, challenges, and opportunities. Gather insights and data from various sources such as online platforms, databases, reports, blogs, podcasts, and social media. Leverage your existing network by asking employees, customers, partners, and alumni for referrals and recommendations.
- Customize Your Sourcing Strategy
Based on your research, tailor your sourcing strategy to each target market. Utilize appropriate channels, tools, and methods to reach and attract candidates that suit cultural and professional norms and expectations of each market. Consider changes to messaging, tone, and value proposition to appeal to different markets. This may include using specialized job boards, social networks, events, or other platforms.
- Engage Your Candidates
Building a relationship, rapport, and trust with global candidates is vital. Communicate regularly and provide relevant and timely information. Employ different communication methods such as phone, video, email, or chat depending on the preferences and availability of each candidate. Account for time zones, holidays, and working hours to set the best schedules for everyone involved.
- Build your pipeline
Developing a strong talent pipeline is crucial for your hiring success. This involves establishing and managing a database of prospective global candidates, monitoring their advancement and status, and offering continuous feedback and updates. Optimize your pipeline by segmenting candidates based on various criteria like skills, location, or interest level. Collaborate with hiring managers, recruiters, and stakeholders to streamline processes across different markets.
If you are considering outsourcing to a global workforce, there are a few things you can do to ensure that you are successful. First you need to carefully define your target markets. Which cities or countries have the highest concentration of the talent you need? What demographics and psychographics do your target candidates fall into? Once you know your needs, you can start to look for the best talent around the globe.
When you’ve found the best talent, be sure to build a relationship, rapport and trust with them. Whether they join your team now or sometime in the future, keeping a pool of talent close to you is essential to win the global race for talent. By following these steps, you can unlock the power of the Third Wave of Outsourcing and tap into a global pool of talent to drive innovation and growth for your business.
Conclusion
The Third Wave of Outsourcing is all about unlocking the power of global talent. By partnering with individuals and businesses across the world, businesses can tap into a pool of diverse, high-quality talent to achieve success. It values people over processes. This approach is all about fostering strong relationships with our partners and working together towards shared goals.
By embracing the power of the Third Wave of Outsourcing, businesses can unlock their full potential. Whether you are looking to reduce costs, improve efficiency, or access new markets, our global outsourcing solutions can help you achieve your goals.
At Third Wave Outsourcing, we are committed to helping businesses stay competitive in an ever-changing world by providing tailored outsourcing solutions that deliver results. So why wait?
Let us help you find top talents in IT, technical support, digital marketing, and cloud services so you can leverage all the benefits of outsourcing in the new normal. Request a FREE copy of the e-book on Third Wave Outsourcing .
