The year 2024 is drawing near, and companies in the advertising, digital, online, and design industries, among others, are already planning their next recruiting strategy. One tactic that stayed the same in 2023 was keeping up with the wage market trends for various professions. This is particularly important when you’re trying to recruit specific positions from offshore regions.
For remote work in the past four years, India has been the go-to destination for international organizations. Talent is abundant in the nation that is prepared to work remotely, has excellent communication skills across cultures, and is technically proficient at an expert level. An important piece of information in this regard is the going rate for the “ideal fit” Indian talent, the one you’d call the “top dog” of your company.
Recruiting “the right fit” remote talent becomes your top priority when you’re looking to fill certain positions on your team with people from offshore locations. It’s all about finding the right people whose competencies, flexibility, learning capacity, development potential, and ability to turbocharge your operations are a great fit with what your business requires.
First, let’s take a look at the recruiting market trends of 2024 before we get into the specifics of how to entice these top achievers and how to figure out the correct compensation for your agency’s skills.
If your agile agency is looking to fill web jobs or digital marketing positions, this trend report will give you a good idea of where things are headed.
- With 65 out of 100 positions filled in 2023, the globe is projected to have a severe lack of human talent by 2030, according to a survey by Korn Ferry. In stark contrast, India is projected to have an excess of 245 million people skills.
- The United States’ hiring was slow in 2022 due to the economic slump, and many people lost their jobs. As a result, they were cautious about spending money. Similarly, the European Union (EU) had difficulties in 2023 that led to widespread layoffs of more than 200,000 workers in several businesses, with 50,000 of those workers losing their jobs in the technology industry alone. In light of these factors, ambitious marketing organizations seeking to expand must employ planned and adaptable methods of hiring.
- Global agencies are increasingly seeking talent from beyond their borders due to the high cost of local talent in some markets, such as the US, UK, AUS, NZ, SA, and Canada, which is 14% more than distant talent.
- In a bid to increase scalability, save expenses, and make better use of qualified workers, 58% of worldwide organizations are recruiting remote workers from offshore areas like India.
Many agile marketing and branding organizations are now deliberately exploring the global remote employment environment in order to access a bigger talent pool, acquire talented individuals within a tight budget, and increase scalability. Now we can go into the important details, including how much to pay people to work in India and which jobs to outsource.
What did other agencies take away from their recruiting practices in 2022–2023 and how did they plan to implement them in 2024?
- In light of the fact that several international organizations have been actively seeking out local talent since the economic slump of 2021, they are now being more careful.
- They are still eager to get their companies operational, but this time they’re seeking “skilled talents that can reduce their costs without compromising on quality”—a phrase they want to fit into a box.
- As a result of the worldwide scarcity of talent and the availability of a larger talent pool, a rising number of agencies are looking to India for employment opportunities. This method is great for managing a company’s money, making sure everyone knows their job, and getting tasks done smoothly.
- In order to acquire the necessary skills for a position, the main takeaway is to outsource certain tasks where meeting deadlines is critical and finding the right people isn’t a deal-breaker.
- Prioritize skill-based recruiting from places where you locate qualified skills within your budget, rather than employing just from your local region. Restrictive thinking limits your access to a larger pool of potential employees and comes at a time when pay demands in the Australian, American, and British markets might rise by as much as 20% in 2023.
- The optimization of the employment process has taken precedence for agencies who are already thinking about remote hiring. In this perspective, it is critical to have a better understanding of the nations you are hiring from, the most effective recruitment platform, and the preferences of talents from worldwide agencies.
- The numbers show that remote recruiting is the most cost-effective option, particularly for ambitious, fast-growing firms. Twenty percent of international organizations are already using remote hiring and are focusing on improving retention rates through cross-cultural effectiveness. As a result of this approach, several agencies have been able to quickly increase their staff size, save a ton of money, and overcome formidable hiring obstacles by focusing on areas that are rich in talent.
- Talents who share a company’s values and objectives are more invested in its success and more likely to stay for the long haul. Behavioral and cultural assessment techniques are currently used by 65% of agencies to locate talent that fits their culture.
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