Hiring international talent can bring an abundance of benefits to businesses. By diversifying your workforce, you can gain new perspectives, take advantage of global networks, drive productivity and innovation, and tap into skills and talents that may be in short supply (and in high demand) in Australia.
Here are 5 key benefits of hiring international talent!
1. Addresses the current skills shortage in Australia’s job market
As Australia navigates the post-COVID business landscape, the ongoing labour shortage remains a significant barrier to economic recovery. According to the National Skills Commission’s annual skills priority list, the number of occupations where workers are in short supply jumped to 286 from 153 in 2021. The figures suggested almost one in three occupations is experiencing worker shortages, up from 19% in 2021.
Expanding your recruitment efforts globally by hiring international talent can be a valuable solution for businesses facing a shortage of workers. International skilled workers, particularly those from abroad, can be utilised to fill specialised and technical roles that may not be available within the labour workforce.
2. Access a wider pool of talent
Recruiting international talent allows businesses to tap into a much larger pool of potential recruits than if you were to only consider candidates from your own country. This can help businesses find the best talent for the specific role, regardless of where that talent is located.
With international recruitment, you are not limited to the knowledge, innovation, skills, or experience of talents in your country alone. This will relatively increase your workplace productivity and innovation.
3. Workforce diversity and inclusion
Another important benefit to consider is that international hiring can bring a set of perspectives, experiences, and cultural backgrounds to your workplace. The unique experiences and education of international employees can enhance the skills and expertise of your business, as well as lead to a more inclusive and tolerant environment, where different ideas and ways of thinking are valued and respected.
According to Deloitte, companies in Australia with diverse and inclusive workplaces have, on average, 27% higher revenue per employee and 30% higher economic profit margins than companies without diversity and inclusion. Additionally, a report by the Australian Human Rights Commission states that businesses with a diverse workplace are better able to attract and retain customers from diverse backgrounds, and are better able to innovate and adapt to changes in the market.
4. Increased productivity and innovation
International employees bring new ideas, perspectives, and ways of thinking which can lead to increased productivity and innovation. According to the OECD, international talent is known to be highly productive, with a significant contribution to GDP.
Having a team that thinks alike can facilitate reaching agreements quickly, however, it may also lead to a lack of new ideas. To break out of a creative rut, it can beneficial to incorporate diverse perspectives, and hiring international talent can provide your company with fresh perspectives.
5. Global expansion and networking opportunities
Hiring international talent can help businesses be better equipped to compete in a global market. It can expand the reach of your business including opening new network opportunities.
For example, if you’re looking to expand your business in a foreign market, having employees who are fluent in the local language and understand the market can be extremely beneficial. Global candidates will have in-depth knowledge of the business trends and customs in their home countries, which can be valuable insights when developing your business’ future plans.
How can Migration Affairs help expand your business recruitment efforts globally?
The availability of migration services for skilled workers in Australia currently makes it easier and more convenient for businesses to tap into the benefits of international hiring.
The existing visa options allow both employees and employers to take advantage of global recruitment. In light of the current labour shortage, the Australian government continues to invest in migration programs to support businesses.
It is important to keep in mind that hiring international employees also implies complying with migration laws and regulations and having a good understanding of them can facilitate the process and avoid potential non-compliance problems. Recruiting talent from overseas can be challenging for employers as they can often struggle with navigating changes in immigration laws and visas.
Migration Affairs is here to partner with your business and guide you through the migration process seamlessly whilst ensuring compliance. We strive to stay informed about the latest rules and regulations in order to assist employers in smoothly navigating the immigration process. Our goal is to provide a tailored and streamlined Australian immigration service that enables employers to expand their recruitment efforts globally.
Contact Migration Affairs today to speak with our immigration experts on how we can help your business to expand your their recruitment efforts globally.