Our clients often ask me “What are the benefits of international recruitment?” or “Is it worth looking to Europe, the US and beyond?” Based on my years of experience working with recruitment agencies who have made international placements, my answer is always YES!
There are so many benefits to making placements overseas and the rewards are very lucrative. That being said, agencies should do their research before jumping into their first placement.
WHAT ARE THE BENEFITS OF INTERNATIONAL RECRUITMENT?
- LARGER PROFIT MARGINS
Many job requirements from overseas companies are due to a lack of talent within their own country and using UK recruitment agencies to try to fill the gap is a way of finding alternative candidates. For this reason, overseas companies will often pay a higher premium for filling their placements to attract the right candidate to come and work for them. This is especially prevalent on both permanent and contract placements where margins may be 5-10% higher than the UK equivalent.
- INCREASED CLIENT EXPOSURE
Many UK companies have an international branch or parent company who have the same vacancy requirements overseas. Tapping into the existing UK clients to introduce the agency to their overseas counterparts is a good way of providing an additional resource to the client and demonstrating the capability of the agency to provide international talent.
- SHARED POOL OF CANDIDATES AND CLIENTS
There is often, especially in the contract market, a pool of candidates who are happy to work on international placements in various countries to meet their financial needs. This could mean that a UK contractor would be happy to take a position in an overseas company as long as the rewards make this viable. Having a number of these candidates can mean that there is a greater chance of making a placement with clients in different countries and they can be used again once the placement has ended
- PLACEMENTS CAN BE MADE VIA THE UK RECRUITMENT COMPANY
One of the best benefits is that any UK recruitment agency can make an international placement without having to set up an entity within the country. The agency will need to do an element of research before making the placement, potentially set up currency accounts and if making contractor placements, arrange export funding to pay the candidate before the client makes payment. However, the recruitment process is the same in all countries and largely only requires an agency to charge (and pay) according to the rules within that country.
THINKING ABOUT INTERNATIONAL RECRUITMENT?
MAYACHI has many years of experience working with recruitment agencies that have made international placements worldwide and understands many of the requirements from a funding and administrative perspective that need to be considered. We have relationships with invoice finance providers who can fund currency placements and have a range of international tax and payroll providers that can be recommended to ensure a placement is completed compliantly.
If international recruitment is something you’re curious about, we’d love to talk you through it. Drop us an email to stewart@mayachi.co.uk to get the ball rolling.
