Begbies Traynor: Has Covid19 paved the road for global recruiting?

Guest blog written by Keith Tully, Partner at Real Business Rescue, a part of Begbies Traynor

When the pandemic hit in March 2019, the dynamics of the workplace shifted to make way for flexible working, such as working from home, staggered hours and hybrid working. Employees and employers alike experienced a new manner of working which was made possible through the integration of intuitive technology, such as workplace chat systems and video conferencing software.

Employees were able to connect remotely and maintain relationships online, which minimised the likelihood of creating a disconnect between colleagues, regardless of their geographical location. While this shaped the future of work, it also rehauled the recruitment process as all geographical restrictions on recruitment strategies could be lifted which brings us to the question – has the Covid-19 pandemic made way for global recruiting?

An intro to global recruiting

While the search for suitable candidates may have typically been confined to a region, global recruitment strategies give recruiters the chance to comb through continents to shortlist unique candidates that are exceptional in their field.

The benefits of global recruiting include:

• Multiplies the number of suitable candidates – Increases the number of potential candidates that fit the criteria from a wider talent pool
• Increases the possibility to offer around-the-clock support – Businesses can offer 24/7 customer support as employees work in different time zones
• Builds a diverse workforce – Creates a varied team with different views, religious beliefs and identities
• Taps into new markets - Provides an insider understanding of new marketplaces and audiences to expand the business on a global scale and increase market share

Global recruiting can be beneficial for businesses of all sizes and sectors with the necessary infrastructure in place to onboard international staff and tools in place to connect colleagues and uphold work culture.

A combination of the effects of Brexit and the Covid-19 pandemic resulted in skills and labour shortages across the UK. The Office for National Statistics (ONS) reported that job vacancies reached 1.3 million from February to April 2022 – a new record – and half a million more than before the pandemic.

As the number of job vacancies hit a record high in light of the pandemic, global recruiting can help widen the talent pool and accelerate the uptake of long vacant job positions.

How the pandemic accelerated the uptake of global recruiting

Businesses took untravelled paths during the pandemic as they traded under unprecedented economic conditions, with no accurate forecast of what the future would hold. As most norms in the working world were disrupted, employers were able to use this opportune moment to take greater risks in the way that they would operate and recruit staff.

A McKinsey survey found that digital adoption has taken a quantum leap at both organisational and industry levels. The companies surveyed accelerated the digitization of their customer and supply-chain interactions and their internal operations by three to four years.

While the pandemic demonstrated the agility of businesses to adapt to uncertainty, it also illustrated how businesses accelerated the adoption of technology in record time. This not only aided a seamless transition to remote working, but subsequently removed the barrier to a host of new opportunities, such as global recruiting.

About the author

Keith Tully is a partner at Real Business Rescue, a firm of licensed insolvency practitioners supporting company directors in financial distress. From Covid-19 cash flow problems, HMRC arrears to creditor pressure, Keith is a highly experienced advisor with over 30 years of experience in the insolvency sector.