International business has become the new normal. Technology has made the world smaller, and as a result, more companies are expanding beyond borders. If your company is in this position and is wondering how to hire someone for a new international office, consider using local talent to fill the c-level staff role. These individuals offer a host of benefits to help your business succeed. Here are 3 reasons local hires can be the best choice for your company's international expansion.
1: Local talent is less expensive and stressful
Securing a work visa for an employee, and residency visas for their entire family, is costly. Besides paying for the visa fees, businesses need to factor in the cost of legal teams, HR management, and other operations that make the transition run smoothly. The best way to prepare for this is to create an International Assignment Policy (IAP) ahead of time, but crafting these policies is costly and time-consuming.
Working with local talent eliminates much of this stress. They won't require the same support that an expat employee does, and there's no need to go through a long, expensive process of applying for a visa or relocating a family. Instead, your new hire can dive right into the work and kick-start your corporate growth.
2: Local talent already has the knowledge you need
The chances are high that your expat employee will need to learn a new language to navigate their new market with ease. And even then, cultural barriers will prohibit them from fully engaging with prospects. Since most adults won't learn a language with native-like fluency after the age of 18, this is a real hurdle that companies need to overcome.
Local executives supply your company with this lack of knowledge and skills. Not only are they native speakers of the local language, but they also already know all the cultural nuances. This means that your team can better interact with your customers and give clients the best experience possible.
3: Local talent has local business contacts
In addition to knowledge of the culture and language, a local hire comes with fruitful business contacts and an understanding of the market in their country. This is by far one of the biggest benefits of hiring a local executive and can create significant returns on the investment in the employee. With these connections and expertise, your local employee will open doors to opportunities that your expat hire wouldn't even be able to find.
Final Thoughts
Hiring locals into your company, especially for positions at the executive level, is a surefire way to secure your organization in a new market. These employees will help guide your company in this new area, and you can count on their local expertise to make the best decisions for your organization. With local talent, you're in good hands.
If you'd like to hire local talent but don't know where to start, YESPartners can help. We've carried out searches in North America, South America, Europe, Asia and Australia, and we are always expanding our reach. To see some of the roles we have already successfully placed, click here.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people for all company functions, across many industries.
No matter your reasons, hiring local talent will benefit your company with networking opportunities, more options, and a reasonable price. So remember what they say in Vegas, “We love locals!”