PERSOLKELLY, one of Asia Pacific’s leading HR solutions companies, has conducted a business survey among 1,326 decision-makers who are responsible for hiring within their organisation, and the report titled “Hiring and Managing Talent Beyond Geographical Boundaries” highlighted the effectiveness and the growing trend of employers across the region in adopting offshore recruitment strategies for their hiring needs.
Having become more open to adopting new operation models and remote work since COVID-19, companies increasingly turn to offshore recruitment strategies to boost agility and put their operations on the right track. Given the unprecedented economic headwinds, businesses find this solution can be cost-effective. It also opens up opportunities to reach new markets, gives access to a bigger pool of talent with specific skill sets, provides resources to quickly fill gaps in their workforce, and enables the diversification of business operations.
Other Key Findings in Singapore
- 45% of respondents are either executing or exploring offshore recruitment strategies, with 58% of them saying that this strategy is effective in sourcing good talent, which helped achieve their business objectives and budgets.
- 66% of respondents voted that the top reason for adopting offshore recruitment strategies is the benefit of being able to access a bigger pool of experienced and skilled talents when local talents are limited.
- When hiring offshore talent, 62% of Singapore employers would offer contractual employment
- 70% of the companies surveyed prefer working with regional recruitment agencies, which also have a local presence within the target market. They require support such as advisory on labour law & compliance (79%), payroll & tax submission (68%), as well as recruitment & onboarding of new offshore talent (52%).
“Globalisation and technology have made it possible for employers to hire and manage talent beyond geographical boundaries. As the markets become more competitive, companies need to differentiate themselves to create more value for their customers to either preserve or introduce new competitive advantages. This can only be done through hiring the right talent with the right skill set to achieve the business objective,” said Foo See Yang, Managing Director & Country Head, PERSOLKELLY Singapore.
“That is why offshore recruitment strategy is gaining popularity. The goal is for this strategy is to seamlessly integrate the hiring of offshore talent as part of the organisation’s global setup and to improve the business operations as one team together. The metrics are picking the right people, the right recruitment agency and the right partners,” said Zen Loh, Regional Business Director, PERSOLKELLY. “With these things in place, an offshore team isn’t just a sustainable alternative to local hiring but a secret weapon in the jostle for business success.”