For businesses operating on a global scale, a company-wide HR strategy is essential in order to align and engage the workforce. At the same time, localised teams must be provided with the flexibility to adapt to regional practices and cultural norms. For those that choose to implement HR technology to facilitate this approach, multiple currency and language options are a must to ensure that HR can be effectively managed locally, with no complications when adapting this information for the boardroom. Human capital management solutions, and it’s varied benefits, offer a range of different options to suit a range of business goals.
This strategy epitomises the rise of a glocal approach to HR management, one which forward-thinking businesses are beginning to adopt in order to maintain competitiveness in the global talent war and overcome industry challenges such as the skills shortage. As talent management becomes an increasingly hot boardroom topic, it is vital that C-suite executives have a complete overview of their workforce, with a clear breakdown of what this looks like at a local level.
Leading the race in the global war for talent
As today’s job market becomes ever more competitive, professional candidates – especially millennials – are more aware than ever of their market value. Sourcing and retaining top talent has therefore never been more important. That is why accurate and up-to-date personnel data, that allows managers to identify high performance hotspots and staff with potential while also locating problem areas, is a must have for the C-suite. In an increasingly interconnected world, managing these sizeable datasets and extracting useful insights for business advantage is a sizeable challenge.
According to Anthony Hesketh, Senior Lecturer at the Lancaster University Management School, the world of business is increasingly becoming glocal, “There is increased pressure to hire people across local geographies. The war for talent is absolutely dominating everything.” This means that managers today have to be prepared to deal with teams that have been formed based on individuals’ skills rather than their presence in a common location. This can create communication issues, explaining the growing adoption of glocal HR strategies by businesses to manage talent internationally.
Recognising talent across borders
If there is a skills shortage in a particular region of a business, a glocal strategy will help identify talent in other departments or locations within the company to help fill the gap. Not only has this approach been known to create a shared culture philosophy, but companies are beginning to take full advantage of advancements in communication technologies, allowing global teams to work together in real time. This has also eased the need for a physical personnel shift from location to location. With uptake of glocal HR strategies only expected to rise, the concept of a ‘team’ as we know it is rapidly changing, and will continue to do so moving forward.
Talentia HCM enables C-suite executives to look at data strategically to understand issues around talent management. Learn more about how this technology could help your business: