Expat workforce is increasing as companies tap global talent

The expatriate workforce continues to grow as companies move to take advantage of the skills, experience and talent of candidates in foreign markets. A January 2014 report by market research group Finaccord revealed that the total number of expatriates worldwide amounted to around 50.5 million in 2013, up from 46 million in 2009. By 2017, Finaccord forecasts that number will reach around 56.8 million. “Global mobility has increased significantly over the past decade and expatriates constitute a large and diverse market,” notes Finaccord consultant Tobias Schneider.

Hays’ global presence can help solve local challenges

A global presence is critical in the strategy of financial institutions and there are plenty of opportunities for candidates who are willing to consider positions internationally. Hays has an unrivalled global footprint in recruitment, with 240 offices in 33 countries. We use this scale to help place candidates overseas, working with financial institutions to solve recruitment gaps where demand is outstripping supply. Hays is also active in encouraging its own staff to consider opportunities outside their home market. This series looks into the experiences of candidates both within the financial sector and among Hays’ own financial markets team as they adjust to work and life in a new country. They share useful, unexpected and sometimes surprising tips along the way.

The global mobility series discusses the varying attractions of cities and countries across Europe and Asia and how they compare in terms of certain factors such as recruitment opportunities, cost of living and the ease of integration. Economic considerations when relocating are critical, but so is overall quality of life. Each market offers its own benefits, from tax regimes and travel opportunities to childcare, education and standards of healthcare.

Singapore to Sydney, London to Hong Kong

Starting with the experiences of the Hays team in Singapore, the series will also travel to London, Hong Kong, Sydney and Beijing. We focus on where the best opportunities for expats are in the financial sector, plus discussions of the challenges and benefits of an expat move.

As the global economic recovery gains momentum, there will be improving prospects for recruitment across the financial sector and Hays is already seeing a marked pick up in hiring in certain markets, such as London.

From the vibrancy of the London financial scene to apartment blocks with their own bowling alleys in Singapore, this global mobility series will reveal the wealth of possibilities for candidates open and ready for new experiences in work and life.

For more advice on relocating abroad, see this article on how international mobility can boost your career: Move yourself – how an international move can enhance your employability.

To share your thoughts on global mobility and to stay up to date with the latest business, employment and recruitment news in the financial markets sector, please join our LinkedIn group, Financial Markets Industry Insights with Hays.

Author

Geoff Fawcett

Director, Hays UK

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Geoff Fawcett has been in the recruitment industry for over 16 years. He is currently responsible for Hays Financial Markets, which provides an integrated recruitment solution to London based Banking & Financial Services organisations. Specialist divisions include Finance, Operations, HR, Marketing, Purchasing, Secretarial, Risk & Compliance, Front Office, Finance Technology and Executive with in excess of 100 consultants.