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Even before the pandemic, companies have prioritized growing their global footprint to take advantage of new market opportunities. In fact, 87% of multinational companies considered their best growth opportunities to be outside of their domestic market. As a result, global trade hit a record high of nearly $30 trillion in 2021. To aid in this expansion, companies are increasingly hiring talent, whether remote or within region, to extend international reach.
The remote-working practices introduced at the start of the Covid-19 pandemic in 2020 have accelerated long-term staffing trends. Companies all over the world have come to recognise the benefits of offering staff the chance to operate from any location. At the same time, the rapid take-up of the latest communication and collaboration technology means that, when it comes to recruitment, businesses can take a more international approach to sourcing the best talent.
The changes to employment practices that resulted from the Covid-19 pandemic created a number of new challenges for companies and their human-resources departments. But in many cases, they have led to improvements in working patterns that have the potential to deliver long-term benefits for both businesses and their workers.
A high proportion of company collapses, especially among small and medium-size enterprises (SMEs), are the result of cash flow problems. Even However adept a business is at spotting a gap in the market or servicing a particular segment, if money is being spent more quickly than it is coming into the firm, it can be a recipe for disaster.
