The hunt for tech talent has extended beyond traditional markets, with companies increasingly looking towards emerging markets as rich sources of skilled professionals. These regions offer a diverse pool of talent, often with unique technical skills and innovative perspectives.
However, sourcing talent from these areas comes with its own set of challenges and opportunities. Whether you’re considering outsourcing, contracting, remote employment, or even relocating talent, it’s crucial to tailor your strategy to fit your business needs and the nuances of the local market.
Tailoring Your Talent Sourcing Strategy
When it comes to sourcing talent, one size does not fit all. Based on your business strategy, resources, and company maturity, you can customize a talent sourcing strategy and work setup that best suits your company’s reality. Here are some common approaches:
1. Outsourcing (Remotely)
Outsourcing involves delegating specific functionalities of your product or maintenance capabilities to an external vendor. This approach requires a focus on vendor research rather than finding individual talent. Referrals and reviews are often reliable methods to select a trustworthy vendor. Outsourcing can be a cost-effective solution, especially for companies looking to scale quickly without incurring the costs of in-house development.
2. Contracting (Remotely)
Contracting involves hiring freelancers or contractors for specific projects or time frames. This approach offers flexibility and low commitment, as you can scale your workforce up or down based on project needs. International job platforms provide access to a vast pool of contractors. However, it’s essential to have HR or a talent partner involved in vetting candidates, setting clear expectations, and defining contractual responsibilities.
3. Employment (Remotely with an Employer of Record – EOR)
Using an Employer of Record (EOR) allows companies to employ talent remotely while an EOR manages administrative tasks such as payroll, taxes, and compliance. This option provides a more stable arrangement than contracting, making it suitable for long-term projects. It also helps companies navigate the complexities of local employment laws in emerging markets.
4. Relocation (Hybrid, On-site, or Flexible)
For critical tech hires, being physically close to your team might be necessary. Relocating talent from emerging markets can be costly and time-consuming. However, modern immigration support services like Localyze offer cost-effective solutions for bringing overseas talent closer to your operations. This option is ideal for companies with hybrid or on-site work models.
💡 The key is to remain adaptable and sensitive to the challenges and opportunities that each market presents.
Expert Tips for Sourcing Talent from Emerging Markets
For both, relocation and remote employment with an EOR, here are our expert tips. Our insights are the culmination of extensive research conducted by the aceworks team specialists, alongside our network of thousands of recruiters:
1. Use a Trusted Talent Partner
Collaborate with a trusted talent partner to prepare your HR team for hiring effectively. These partners can connect you with local recruiters, offering access to a broader candidate pool and valuable insights into the local market.
2. Understand Local Markets
Gain a deep understanding of the emerging markets you are targeting. This includes learning about cultural nuances, educational systems, and the local tech ecosystem. A thorough understanding will help you tailor job offers and engagement strategies that resonate with local talent.
3. Networking and Community Engagement
Engage with local tech communities by participating in meetups, webinars, and conferences. Building relationships with local influencers, speakers, and tech schools can provide valuable referrals and insights into the talent landscape.
4. Employee Referral Programs
Once you’ve established a presence in an emerging market, promote your referral program to integrate new employees and encourage them to refer candidates from their networks. This approach can significantly enhance your recruiting efforts and attract talent from similar backgrounds.
5. Transparent Communication and Interview Process
A straightforward and respectful interview process leaves a positive impression on candidates. Ensure clear communication about job expectations, company culture, and potential challenges.
6. Feedback and Continuous Improvement
Collect feedback from hired candidates and their managers. Additionally, gather insights from dropouts in the hiring process and employees who leave within a few months. This feedback loop is crucial for refining your recruitment strategies and improving the candidate experience.
But there’s so much more to learn about tech talent in Emerging Markets:
– Where can you find tech talent outside the European Union?
– How many tech talents are available in emerging markets?
– What are the differences in work culture?
– Which are the key technical universities to scout for candidates in emerging markets?
Unlock the full potential of tech talent with our whitepaper: “Talent Landscape in Emerging Markets – A Briefing for EU Employers” This comprehensive guide will equip you with the insights needed to understand, locate, and attract technology talent from beyond the EU.
