Harnessing London’s talent for your European HQ
Date posted: 7th May 2015
London continues to grow as a centre for employment with growth fuelled by the highly-skilled workforce found within the city. Over one-third of Fortune 500 companies and have their HQs in London with the capital home to more headquarters than any other city in Europe. This results in unparalleled opportunities for convergence and access to the UK’s talent and leadership expertise.
Access to talent is the driver of economic growth, and London has long been a magnet for a skilled and diverse workforce attracting well-qualified inward migrants from the UK and abroad, as well as futureproofing the talent pool through on-the-job opportunities, universities and further education.
The UK is home to four of the top six universities in the world, and currently London attracts 50% of all UK graduates. Close to 1.5 million people working in high-skill, knowledge-based sectors, including digital media, advertising, banking and management consultancy are based in London, and as a global leader in many of these sectors, the level of expertise of London’s leadership is unrivalled and its position as the home of world-class talent unsurpassed.
As the biggest employment hub globally, London works hard to create a learning, business and innovation environment that attracts and keeps skilled people. As a result, labour supply is expected to grow over the next 15 years, and importantly, it’s this highly-skilled and an ever-increasing talent-pool within the capital that continues to drive success and keep London moving towards a more balanced economy.
How do you ensure you attract the best talent?
Companies choose to set up HQs in London because of the commercial opportunities it presents and it is vital they recognise from the onset that unless a well thought out recruitment structure is in place, harnessing these opportunities becomes increasingly difficult. Accessing London’s quality, diversity and quantity of skilled workers requires structure and significant planning with the emphasis on localising the search effectively.
The first step is to plan with a local agenda. Companies need to have a clear idea on the role(s) they need hire for and how this looks to the UK talent market. Salary expectations, benefits package, industry knowledge and expertise need to be understood and defined.
It is then essential a company presents itself as a compelling employer brand and proposition to the market. You will need to provide detailed information to your potential market which outlines who you are, what you do, who sits on your leadership team, your financial backing, and the advantages your company brings. This openness is a guaranteed way to attract London’s talent pool.
An efficient and effective recruitment process should then follow in order to secure top candidates. Bringing key stakeholders over to London in order to conduct the interviews and manage the hiring processes demonstrates the company’s commitment to the expansion plans.
The final step to access London’s talent pool is to take advantage of the city’s local partners and networks. London has a vibrant business scene which promotes growth through networking, meet ups and events. Playing an active part in this scene through various channels will help push your brand out to the market. Similarly, taking advantage of local partners for legal, tax and recruitment advice will help ensure your business thrives within London.
Find out more about London as a talent hub
Thinking of expanding into Europe? See how our executive search team can help.