De-Risking Automotive Tech Hiring by Going International
International hiring has made a huge impact on tech hiring. Discover what are the factors involved and what impact it has created in mitigating the risk.
International hiring has made a huge impact on tech hiring. Discover what are the factors involved and what impact it has created in mitigating the risk.
The automotive industry is facing fierce competition and evolving technological demands. Recently, Ford announced its plan to split into two distinct, independent businesses, with one focusing on attracting and retaining top software, engineering, design, and UX talent. This example highlights the intense competition for talent in the automotive sector. To stay ahead, many organisations are turning to international hiring strategies to de-risk their talent acquisition efforts and access a broader pool of skilled professionals.
Competing for talent in the automotive industry, amidst changes in employee lifestyle and workplace preferences, is challenging. The industry is undergoing transformation due to megatrends of societal changes, sustainability concerns, and technological advancements.
International hiring allows automotive tech companies to diversify their workforce and expand their talent pool, reducing reliance on a single market or region and mitigating economic or political risks. Geopolitical factors can also impact global enterprises, making diversification a smart risk-reduction strategy. For instance, Toyota has effectively reduced its risk by diversifying its workforce and expanding its global operations.
Building a globally diverse workforce fosters innovation and creativity, as diverse teams bring a wider range of ideas and approaches. Additionally, companies gain a better understanding of different cultures and markets, enabling them to tailor products and services to local needs. It also helps companies improve their innovative product development and technologies by providing them with access to a wider range of talent and expertise that helps them to stay competitive in the global market.
Ford's global expansion through hiring local talent around the world has helped it tailor products to specific markets and customer preferences.
The automotive industry, like the tech sector, faces talent shortages. By going international, companies can tap into regions with high concentrations of skilled professionals, like tech hubs in Eastern Europe, India, or Southeast Asia. Expanding the search beyond local markets grants access to specialised skills and expertise that may be scarce or in high demand domestically.
International hiring can infuse new skill sets into the organisation, ranging from learning advanced automotive technology to developing strong interpersonal aptitudes and effective time management. This infusion of diverse skills enhances the overall capabilities of the company and equips employees to handle various challenges in their roles.
Tesla, for example, has been hiring engineers from India for its R&D centre in California.
Hiring internationally allows companies to leverage the expertise of professionals working with cutting-edge technologies, such as electric and autonomous vehicles, connected car systems, and advanced driver-assistance systems (ADAS). Additionally, hiring talent from target markets helps in understanding local preferences, regulations, and cultural nuances, facilitating successful market expansion strategies. Tesla's ability to attract global talent by offering competitive salaries, benefits, and work environments has been instrumental in developing innovative products that disrupted the automotive industry.
International hiring facilitates collaboration with global partners, suppliers, and customers. Hiring talent from key markets fosters better relationships and understanding, leading to smoother collaborations and successful business outcomes. It also allows companies to find good talent easily and fill critical positions more efficiently. Engaging a Global PEO, such as Global Expansion, can ease the burden of international hiring and provide assistance in candidate screening.
International hiring grants companies better control over their investment and access to a wider range of talent and expertise, ultimately enhancing product development and innovation capabilities. It enables faster scaling by providing access to a larger talent pool and streamlining operations. General Motors has improved its product development capabilities through hiring top talent globally, enhancing competitiveness in the global automotive market.
In a report made by Bersin by Deloitte, over 450 global companies were surveyed over two years. Organisations that have a diverse, international staff are 1.8 times more likely to be ready for change and 1.7 times more likely to be leaders of innovation within a given market.
Tech hubs, where new talent and ideas flourish, provide a space where high-tech business growth can be accelerated. They contribute to community prosperity and high-tech business growth. Global mobility enhances productivity when teams operate across different time zones. International workplaces offer a fulfilling culture, leading to improved morale and further strengthening a stronger talent pool.
Companies recognize talent as an asset and invest where talent is generated and retained.
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