Diversity 2.0 : Inclusion of Global Talent
Why Organizations Need To Include International Applicants
The importance of global diversity cannot be understated. Leading companies recognize the significant advantages associated with diversity in the workplace. Companies who integrate employees from culturally diverse backgrounds perform better for they are adaptable to cultural market changes. As businesses expand into global markets those organizations with international diversity are better poised to succeed.
Even though American’s bring vastly different perspectives to the table they still think within certain parameters, the American box.
The standard practice to creating a diverse workforce combines workers from different backgrounds within America. Even though American’s bring vastly different perspectives to the table they still think within certain parameters, the American box. Expanding diversity to including foreign nationals breeds a more creative, innovative, and productive workforce who are better equipped to take on the challenges of global growth.
The value America receives from international professionals is still not fully recognized. Foreign nations are responsible for creating 40% of Fortune 500 companies and 25% of all new businesses in America. Foreign nationals bring experiences, ideas, and solutions tapped from their home environment which often provide solutions to opportunities we have yet to recognize. With more and more companies expanding into global markets it’s only logical to include internationals.
Immigration has always been a cornerstone of America’s success
Most foreign business founders first worked for an American company under an H-1B visa. There are countless stories of missed opportunities by organizations like Facebook, who had the opportunity to hire Jan Koum the founder of Whatapp. Facebook would later purchase Whatsapp for $19 billion. The recruiting team made a billion dollar mistake by declining Jan Koum’s application, imagine if that decision was made due solely to immigration concerns.
Illustrated below are 3 strong reasons for including foreign nationals in your recruiting efforts.
- Diversity in the workplace is necessary to create a competitive economy in a globalized world. In an increasingly competitive economy, talent is vital and necessary to succeed. America’s largest advantage is diversity and a large factor why the United States is the top competitor in the global economy. By capitalizing on the unique talents and contributions that diverse communities bring to the office organizations excel.
- Diversity fosters a more creative and innovative workforce. Bringing together workers with different qualifications, backgrounds, and experiences are key to effective problem-solving. Similarly, diversity breeds creativity and innovation. Of 321 large global enterprises—companies with a minimum $500 million in annual revenue—surveyed in a Forbes study in 2011, 85 percent agreed or strongly agreed that diversity is crucial to fostering innovation in the workplace.
- More qualified candidates. Companies are only as good as their employees. To hire the best and the brightest you must actively seek, invite, and recruit from a diverse set of candidates, including international applicants. Hiring managers are more likely to hire “A” employees when provided a strong pool of applicants. Recruiting is a numbers game, having 3 qualified candidates is better than 2 candidates.
There will always be critics who claim it’s unpatriotic to hire foreign nationals. Success is the American way. Unsuccessful companies don’t hire so hire the best person and be successful. Simply put, international professionals add value either by niche skill sets, creative ideas or work ethic.