Don’t take talent short-cuts when looking to establish your business abroad

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15/09/2017

With many considerations about doing business abroad, investment in the right people can make the difference between success and failure. Knowing where you are landing and what to expect when you encounter new market territory is key to establishing a new base. You need a local foot-hold provided by someone who knows what this local market needs.

If you are looking for talent to launch your business in the UK, you may find some surprising new facts. 2017 saw the fastest decline in permanent candidate availability in 15 months according to a Markit/Recruitment and Employment Confederation UK Report on Jobs, and REC Chief Executive Kevin Green commented: “Finding people to do the jobs on offer is rapidly becoming employers’ biggest headache, and many are reporting an increasing number of white-collar jobs as hard to fill, including in the IT and financial sectors.”
There’s a new mindset in play with the growth of the gig economy. Both younger and older workers are looking for different job attributes such as work/life balance and being attracted to organisations that offer a higher sense of purpose, compared to traditional rewards such as status and job progression. So finding talented and experienced individuals is no longer a matter of calling a local recruiter. Every business in the local market is already competing for those individuals, so landing a new business in the UK market just got doubly hard.

Reframing how you source your workforce when you plan to grow in a new market is key to adapting to these changing socio-economic conditions. You need local inside knowledge, you need cultural nuance, you need experience and connections in the chosen market. Above all, you need people you can trust to help minimise the inherent difficulties of new market entry.

It’s not just that the permanent hire process can be time-consuming, costly and difficult, but when you are testing your place in a new market you need some dedicated help solely dedicated to you until you’ve tested your ground and know what to do next. Getting it right is a pretty big deal.

Fortunately there are options.

‘Gig’ working has moved up to board level and it is now possible to source brainpower on a fractional basis which means you can have all the talent at a fraction of the commitment. There’s a new breed of real-world, highly experienced executives from blue-chip backgrounds applying their services in this way.
So, to help you establish yourself in your new market, the gig economy has just given you a whole other opportunity to lower your costs, lower your risk and increase your chances of success when doing business abroad.

At gigCMO we specialise in applying Chief Marketing Officer brains into organisations that need an injection of talent in home markets, new markets and globally. We’ve cut our teeth in international expansion, growth and innovation. We take a fractional approach to providing just the right level of input needed to help your business get established. New market entry, global outlook allied to expert local market knowledge. If you would like us to work with you on your import/export strategy, talk to us at gigCMO.