7 Best Practices for Growing Employment Brands Into International Markets
Since the mid-1990s and into the 21st century, many countries have opened up their domestic markets for international players. It has brought all of us in different countries closer to each other than ever. And, the advent of the world wide web has increased this revolution. Today’s world is like a diverse microcosm or a small global village. However, it depends on how you look at it. Thus, it means that brands and businesses, including global employment agencies, can look beyond national boundaries to expand and grow.
Practices for Growing Employment Brands into International Markets
Though such expansion and broadening of horizons seem exciting, you need to put in careful thought and some organized planning for such forays into international markets to be a success. The opening up of employment agencies into international markets will have a multifaceted effect across the country.
On the one hand, it will allow federal skilled workers to consider employers from outside their country. On the other hand, employment agencies based in one country can tap the workforce environment on foreign soil and use it to their advantage.
This process is not without its challenges and hurdles, though. If an employment agency functions globally, they should first familiarise themselves with a foreign language, customs, and culture. Localization here will help.
They also need to study markets outside their country. It can help them identify potential growth areas and capitalize on them genuinely. Let’s prepare a roadmap of what to do when considering a foray into international markets and elaborate upon it.
Undertaking a Market Analysis:
Identify areas of service gaps. For instance, does China need professionals who can speak American English? Are federal skilled workers a suitable candidate for this? Does the American consulate in South Africa need local liaison officers that your employment agency can find?
You can find many software professionals among federal skilled workers in the country. You need to tap into each international market to identify unique gap areas – gaps in the supply of skilled labor which you would fill. Undertaking a detailed market analysis will produce pertinent data and insights into markets that can help in future growth and pose challenges if entered.
Undertake a SWOT (Strengths, Weakness, Opportunity, and Threat) Analysis:
Are identified international markets suitable for expanding business and growing? You then need to study further the strengths, weaknesses, opportunities, and threats in these. There might be markets you can explore in some cases, but government policies for foreign companies might be hostile.
For example, you might want to hire people from the Philippines for an American project, but their work timings won’t match America’s schedule. You might also have to explain the concept of daylight-saving time, among other things. The openness of yours might initially put off some orthodox cultures. Both of you may need to adjust a little.
Make Changes to Your Organisation and Functioning Necessary to Facilitate Such Entry:
You want to expand your business. And, you have decided that entering a foreign community will yield positive growth for its expansion. To make this come true, you will have to alter the way you function a little. A simple example would be changing working hours to suit foreign timings or employing people of different cultures or nationalities to act as a go-between person. This may also include familiarising your staff with foreign cultures, which can benefit your business.
When Amazon came to India, they started wishing their customers ‘Happy Diwali’ in an American-accented voice. This strategy is chiefly employed to generate goodwill. Sensitizing the employees, who are part of the federal skilled worker base, towards new cultures and rituals will help them understand the new markets and engage better with their customers.
Network with Local Business in that Particular Nation:
Develop connections that will help you forage into new waters and provide insights into how things work in new places. This will shine the light on how to operate the dos and don’ts in the future. What do we usually do when we first enter a new atmosphere – school, office, or club? We try to forge new connections and hope to make new friends. The same applies to joining an international market for business.
It’s better not to begin operations right away. It would be beneficial to network a little and feel this new market. Have someone from that particular culture on board who can work on your behalf. Another way is to get to know local employment agencies and understand trends in demand and supply of labor, the current hiring environment, etc.
Take Steps to Understand Foreign Law and Accounting Procedures:
Understanding the above is part of laying a solid ground to operate efficiently. Further, it can also help you make changes in how you work. You need to align your business and operations closely with the needs and demands of the new market. For instance, a 401(k) is a pension plan to which the employer contributes a certain predetermined sum in the US.
In Canada, you have the Canada Pension Plan as a similar alternative. There might also be some international laws and rules governing trade. You need to be aware of and comply with the same. This goes for accounting practices in the new country you wish to start a business in, too.
Know the Expectations of Your Clients:
Exactly what is it that companies looking to hire a new workforce are seeking in your employment agency? If a federal skilled worker approaches you with his resume and other professional details, wanting you to help them get hired, would you be able to meet their expectations?
Understanding the psyche of your prospective customers – what it is they are looking for – and delivering it will help you achieve success early on.
For branding, a bad customer experience can last longer than a positive experience. It magnifies 100-fold. So, you need to have constant vigilance. It is possible to develop an employee handbook or invest in online education for your employees and monitor how quickly you expand. It will ensure that you keep the promises you make to your customers, regardless of the market.