Nearshoring to Mexico: How to Approach Talent Competition?
By: Teresa Mestas, Project Leader- Consulting Services
Yes! It is great news that North America and the world are turning their heads towards nearshoring to Mexico, and the Monterrey – Saltillo region has become a hot spot of opportunities for companies looking to relocate. But with the arrival of popular giga-brands and more than 100 new upcoming investment projects confirmed last year, how is this imminent shift in the labor market going to affect the industry?
As a result of nearshoring to Mexico, in just a few years, Saltillo has become the second most investment-capturing destination, just behind Monterrey, opening up the supplier base and infrastructure in the region. This also means the competition for top talent has begun and the big question is: are you and your company prepared to keep up?
We must face the facts, there is a whole new challenge for companies already established in the region and for all those 100+ projects coming to Nuevo Leon and Saltillo soon. The demand for talent and operational positions will keep growing in the next few months and the workforce will have plenty of options to choose from, and no, a great rewards package and an attractive salary proposal will not be enough to keep your employees engaged.
It is now or never; managers must focus on having their company become an Employer of Choice. A company with such a solid structure, leadership, and an amazing work environment, based on clear core values, that employees choose to work at your company because they feel engaged and motivated.
It is here where Prodensa´s approach is supporting companies to achieve what may sound impossible and challenging; compete with global leaders, for top talent in Nuevo Leon, Saltillo, and all over Mexico. And all of this with a solid and highly effective model that addresses 6 pillars within the company:
In order to start transforming your company into an Employer of Choice, working in these 6 pillars is vital but first and foremost you should start by looking in and completing a full internal assessment by answering questions such as:
When was the last time we did a labor environment survey?
Do we have enough training for mid-range positions?
Do we have a variable compensation system?
What is our work culture?
Is high management communicating results to the rest of the company?
Is high management following a leadership culture?
Is our company culture being conveyed in the recruitment process?
Are we using people analytics for decision-making?
So yes, as complex as it sounds, the growing competition for talent and human resources is actually good news. Even though it comes with a new set of challenges, if approached in a forward-thinking manner and a people-focused way, it will bring your company many benefits. Mitigation of potential risks, promoting business continuity, reducing recruitment costs, and improving productivity and work environment, are just some of them. Most importantly however, developing employees that are engaged with your company’s culture and apply their talent to meet your common objectives, will be the main reward.
For more information on how to become an Employer Of Choice, you can write us at email@example.com