"Reduced investment is leading to better long-term outcomes and improved recruitment"

• Nick Waller, founder of Global M, shares key insights on today's top talent priorities and current global investment trends.
• We also talked about a specific concept: ‘Having the right people and their talents is more crucial than a business plan itself’.
• He highlights the immense potential Africa holds for business growth. “Africa is a prime spot for business expansion and talent acquisition”.

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Global M is an international recruitment consultancy helping start-ups and large technology corporations recruit top professionals to rapidly scale their tech teams. It’s specially dedicated to supporting clients by seamlessly integrating with their cultures, environments, and tools. Recently, we had the opportunity to interview Nick Waller, the founder of Global M, who shared insights into their unique approach and vision.

Nick from Global M mentions that "supporting the client daily and integrating with their culture, environment, and tools is crucial. Being on-site allows us to integrate on a personal level, enhancing mutual understanding." This approach underscores Global M’s commitment to aligning closely with their clients.

One of the main topics was the current investment landscape, where Nick shared with us an interesting perspective: “While investment has reduced, it’s leading to more positive outcomes in the long run and better recruitment strategies”. “Investments are now given with the expectation of profitability, not just growth for the sake of growth”, he added.

Part of our conversation focused on Africa and the wide opportunities for companies to expand their teams there. Nick believes that “Africa is a fantastic place for us and other organisations to grow. The strong university systems produce very smart and eager people”. He also added that “Africa's rich natural resources attract global investment, providing economic advantages without compromising on talent quality.” Regarding today’s top talent, Nick notes that "the benefits are the top priority. ‘Is the organisation going to pay me what I deserve? Are they going to give me a good salary? Are they going to offer benefits that provide flexibility and support my environment?’”.

Nick further emphasises the importance of having the right people, stating that "having the right people and their talents is more crucial than a business plan itself. Your business will be successful when you start testing it in the market with the right people who can adapt to changes and see opportunities."

Lastly, Nick points out how AI enhances the interview process: "AI makes the interview process fairer by using video software and AI tools that analyse keywords and what people are saying, reducing subjectivity." This use of technology ensures a more objective and efficient hiring process.

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Highlights from Nick

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• Being on-site allows Global M to integrate personally, enhancing mutual understanding.
• Africa's rich natural resources attract global investments from countries like China, the US and Russia.
• Benefits are a top priority: ‘Is the organisation going to pay me what I deserve?’
• Having adaptable people who can see opportunities is more crucial than the business plan itself.
• Investments are now given with the expectation of profitability, not just growth for the sake of growth.
• AI makes the interview process fairer by reducing subjectivity.

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Full interview

What’s the main thing you aim to achieve at Global M, and how does this set you apart from other firms?

‍Global M is an international talent consultancy. We work with startups, scale-ups, and corporates, supporting them in finding, hiring, and analysing top talent.It really depends on a case-by-case basis, the size of the business, and the type of roles they're hiring for. We tailor our solutions specifically to each client. This usually involves providing a recruiter from our experienced talent acquisition team. This recruiter finds profiles, analyses them, and provides succinct feedback to hiring managers and internal teams. They are embedded in the organisation, supporting the client daily and integrating with their culture, environment, and tools. They have access to an email address, applicant tracking system, and other tools, and often work on-site.

‍Being on-site allows them to integrate on a personal level, such as going for a coffee and discussing daily events, or attending conferences to learn more about the organisation. This deep integration gives us a thorough understanding of the client and vice versa, leading to excellent service delivery. We enjoy this approach as it makes us feel part of the team and enhances our accountability.

On top of this, we've been going for 12 and a half years now, and we've got international employees. We've got people based in Ukraine, South Africa, and the US. This gives us a good understanding of different cultures since we employ people from diverse backgrounds.Having offices in these locations gives us a great perspective. Our Spanish office provides a good overview of Europe, our South African presence offers insights into Africa and parts of Asia, and our US office covers Canada and South America. These different elements give us a well-rounded global view.

Could you describe a typical scenario Global M encounters in global hiring?

‍I think nowadays, especially with the current climate, it has really shaken up recruitment and people's views on it. Recruitment activities have become a bit more inconsistent. We've found that it's not so typical anymore. Although that's part of your question, we find that companies usually come to us because they don't have the speciality in that specific sector. They've done some cost savings and planning, which means they didn't need to hire the number of people they actually do need. So, they come to us and say, "Look Nick, we are struggling to meet our numbers. We need your support."

So actually, it really varies why people come to us, but dominantly, it's because they are behind their hiring goals and need additional external support. The second reason is that they see us as a partner who can help and support them, not just in finding talent, but in providing insights as well. They see us as a potential partner, and it gives us a chance to learn from them too. It’s a two-way street, which is why many see us as an integrated partner rather than just an external agency.

What inspired Global M to open offices in South Africa and Ghana, and how has this expansion impacted your growth and partnerships?

‍I think there are a couple of elements in this question. So, personally, being born and raised in Kenya was a wonderful experience, and I'm very grateful to my parents for giving me that. It gives you an international perspective. Growing up in a country with significant social and class divides, as you get in Africa, you soon pick up on these disparities. I think this awareness becomes a part of you, and you start to question why such divides exist in the world. This perspective has stayed with me throughout my life and career, and it's a core reason why Global M focuses on supporting people in finding jobs and enhancing their careers.

From a personal perspective, my background has shaped my career and our business. We wanted to invest in Africa because of my personal connection. People from Africa are incredibly resilient and positive despite facing significant hardships and infrastructural challenges. They are friendly and optimistic, which is an admirable way to look at life. We invested in the continent by opening an office in South Africa and employing South African staff. We also have employees in Ghana and East Africa.

It's been a good experience. There are cultural nuances and environmental factors we've had to learn, but embracing these elements has been rewarding. We've had very positive experiences with our African team members, particularly in South Africa and Ghana.

We're looking to build on these experiences by growing partnerships in Africa and working with more companies there. There's great talent in Africa, supported by strong university systems, with very smart and eager people. We believe Africa is a fantastic place for us and for other organisations to grow.‍

What benefits do companies gain by hiring in South Africa, Ghana, or Kenya?

‍The benefits of hiring in South Africa, and Africa in general, are numerous. In Africa, the principal countries where much of the business is conducted are South Africa, Kenya, Nigeria, and Morocco. These countries produce a significant amount of talent and business, making them focal points for commerce. We have offices in South Africa and Ghana, which gives us a solid understanding of these specific locations.

‍South Africa is particularly interesting because many people there have a European cultural synergy, partly due to historical ties with Dutch colonizers. This cultural fit makes it easier to hire and integrate them into teams. Despite facing hardships such as government issues and unreliable internet access, South Africans have developed resilience, an essential trait for the workplace. This resilience makes them adaptable and client-oriented employees.

‍Similarly, Nigeria is a wealthy country with many fantastic entrepreneurs and a burgeoning technology scene. There's increasing investment in Nigerian startups, with venture capital firms specifically created to invest in African businesses. This trend is fostering a vibrant entrepreneurial ecosystem.

In Kenya, Tanzania, and other locations, we see similar patterns of growth and talent. French companies also benefit from working in Morocco and Tunisia, where French is widely spoken, providing a cultural connection that facilitates business operations.

Additionally, the cost of hiring in Africa is generally lower compared to places like Copenhagen, offering economic advantages without compromising on talent quality. The lower cost of living in Africa means you're not having to pay as much in salaries, which reduces expenses related to infrastructure. This is a significant benefit for some companies, making Africa a cost-effective choice for many businesses. Because you can get highly effective people for less money, Africa is an excellent place for building a cost-based operation. However, it’s important to remember that working in Africa may not be the same as working with Nordic countries, DAC (Germany, Austria, Switzerland), or the UK, where infrastructure and work environments might differ.

Overall, Africa is a diverse and dynamic continent with immense potential for growth, making it a strategic location for businesses looking to expand and tap into new talent pools.

Could you share some information about which countries are investing the most in Africa?

‍Africa's rich natural resources attract global investment, including significant infrastructure projects by countries like China, Russia, and the US. This investment enhances the business environment and creates more opportunities for skilled workers. However, the most notable growth is in the tech sector.

What are the top three things that influence top talent today?

‍I think the number one concern is always the benefits. While people often say it's about the opportunity, the role, or the progression, the benefits are the top priority. “Is the organisation going to pay me what I deserve? Are they going to give me a good salary?”

Everything needs to be perfect, even though it rarely is. “Are they going to offer benefits that provide flexibility and support my environment?” With COVID, flexibility has become incredibly important, whether that's being fully remote or hybrid. There's a bigger push for hybrid now because many people feel burnt out from being fully remote and want some time in the office. If you're in the office, even for just a day or two a week, it can benefit your communication and career more than being fully remote. Top talent wants a good salary, benefits, and flexibility. Secondly, they look for opportunities for growth and leadership within an interesting company.

Lastly, we're seeing a growing concern for sustainability and the good an organisation does for the world. Top talent wants to work for a company with a good ethos and sustainability agenda. They want to be proud to talk about their company with family and friends. Even if the company isn't in the energy or climate sector, it can still provide good to the world. This is becoming increasingly important for top talent.

Could you expand on the concept that “having the right people and their talents is more crucial than a business plan itself”, and how this philosophy shapes your approach to team building and pitching to investors?

‍Business plans are important, as they ensure you have your ideas, concepts, and commercial aspects backed up. However, the true test of whether your business will be successful comes when you start testing it in the market. This means selling, pitching, and showing your product to see if customers are willing to pay for it. Your original idea might not be what customers are willing to pay for; it might be an incredible idea that the market isn't ready for yet, possibly for another 10-20 years.

It's crucial to test your business to ensure it's viable. Many people talk about minimal viable products (MVP) or proof of concept, but even simple businesses, like selling something online or making food for someone, need to find out if people are willing to pay for it. That's when you know you have a real business.

‍Having the right people is vital because they will be on the front lines, seeing opportunities and adapting to changes. It's important to have common-sense, entrepreneurial people who are ready and adaptable. Some people struggle with change because they have a fixed idea of how things should go, but life and business are unpredictable. Things change, move, and alter, and it's essential to be prepared for that.

How are current trends in investor interest affecting the global talent landscape, and what implications does this have for talent development and recruitment strategies?

‍We've seen a significant dip in investment in startups and scale-ups over the last 18-24 months. Post-COVID, there was a surge in investment as many people were working remotely and relying more on technology, causing metrics for tech companies to soar. This led to a lot of venture capital (VC) investment in technology startups. It was also a favourable climate for borrowing money, as it wasn't hard or expensive.

However, over the past 18-24 months, interest rates have increased, making it harder and more expensive to borrow money. This has changed the landscape, leading to a decrease in investment. But this shift is positive, as it encourages companies to be more sustainable. Investments are now given with the expectation of profitability, not just growth for the sake of growth. This change is pushing organisations to adopt more sustainable working methods.

Founders are now more cautious about how they spend and use their money. This cautious approach is beneficial for recruitment, as companies come to us with more specific and detailed business needs, leading to more successful partnerships. It's something I really enjoy seeing—companies with a clear plan and way of working.

Overall, while investment has reduced, it’s leading to more positive outcomes in the long run and better recruitment strategies for organisations.

What’s your opinion about AI recruiting systems?

‍AI systems are going to be really helpful in recruitment, and their impact is largely positive. Currently, AI is used for generating emails to candidates and clients, helping us explain what we do more effectively. It speeds up the process of reaching, attracting, and engaging candidates. Additionally, AI makes the interview process fairer by using video software and AI tools that analyse keywords and what people are saying, reducing subjectivity.

‍Recruitment has always been quite a subjective process and likely will be for some time. However, AI software helps eliminate some of the natural biases, making our industry better. Despite this, the human element in recruitment remains crucial. Speaking to people on the phone and helping them through the process is something AI will struggle to replicate.

AI can significantly improve the outreach and interview processes, but the human touch will always be important in recruitment.‍

After global recruiting what is next?

‍After successfully recruiting globally, the next step is to ensure seamless employment and optimal onboarding of your diverse team. At Teamed, we are witnessing a significant increase in hiring top talent from Africa, especially in tech companies.

One of our top countries for employing employees from our clients is South Africa, where we partner with global recruiters like Global M and have local specialists ready to help you with regulations, payroll, and more to simplify your hiring processes. With Teamed as your Employer of Record (EOR), you can build a world-class team no matter where they are located, while we handle the complexities of hiring, paying, and taking care of your remote workforce. The Teamed difference lies in our top human support for both companies and employees, ensuring everyone feels valued and supported throughout the employment process.

‍Let's focus on growing your business with the right people, without borders!

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