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Global Hiring Essay

1517 Words7 Pages

Owen Heimsoth
Alyson Lurker
LSB 402 – Summer Internship
11 June 2022

Global Hiring and its Impacts on FTI Consulting

FTI Consulting

FTI Consulting is a global consulting firm with over 7,000 employees. The firm has practices in corporate finance and restructuring, economic consulting, forensic and litigation consulting, strategic communication, technology, and healthcare. This paper will focus on the impact of global hiring on FTI’s consulting practices and the opportunities and threats that both FTI and its clients will face.
As a consulting firm, FTI’s asset that generates revenue is the experience and capabilities of the talent that the company hires and retains. While human resources are not a balance sheet asset, the people that FTI …show more content…

The company now operates in 31 countries across six continents. Non-US revenues accounted for 37% of revenues in the most recent fiscal year, ended in December 2022 (FTI Consulting). As a result of FTI’s human knowledge-driven business model, changing international trends in talent management leave the company uniquely positioned in terms of opportunities and threats.

Trends in Global Hiring

Following the COVID-19 pandemic and the resulting increase in the feasibility of remote work, global hiring has become increasingly easy for companies to achieve. For example, 89% of all employment contracts in 2022 included a provision allowing for remote work in some form (State of Global Hiring Report). At FTI, both US and international employees work in a hybrid model.
Through this model, the company has been allowed to hire more international talent as teams can collaborate on applications such as Microsoft Teams regardless of their location. As well as this, given the necessity in consulting to travel to client sites, the home office location of an employee is less important to a consulting firm than counterparts in other industries. Advantages of Global …show more content…

A 2022 study showed that in the finance and insurance industry, 65% of workers who left their companies switched industries entirely. The same study also showed that in the US, 40% of workers across all professional services industries are considering changing companies in the three to six months after the study was conducted (De Smet, Aaron, et al).
While globalization has made international talent more accessible, this also means that firms such as FTI are forced to fight their competitors for this emerging talent. One downside of FTI is that it is not necessarily a name-brand consulting firm (which is somewhat intentional, as the company is primarily hired to work is distressed environments) such as McKinsey or Bain, which may assist in recruiting top talent. This threat must be mitigated by adjusting the company culture and catering to the wants and needs of local and international talent. Steps that FTI has taken to mitigate this threat include implementing a much more flexible work-from-home model and increasing compensation for revenue-generating

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