Sunday, April 1, 2018

Global Mobility Involves a Top-down, Bottom-up Effort

Learned a lot lending an editorial hand here:

Boss, April 2018

by David Mallon

Getting the right people to the right place at the right time is a perennial challenge for large, multinational companies. Recently, however, the need to address that challenge has become more pressing.

One reason is rising nationalism and the backlash against globalization that often accompanies it, which is making it more difficult for companies to execute effectively on global talent strategies. On the opening day of the 2018 World Economic Forum in Davos, India’s Prime Minister Narendra Modi called out the globalization backlash as one of “the three most significant challenges to civilization as we know it,” along with climate change and terrorism.

Another reason is the division of the world’s talent markets, which can exacerbate the need for a mobile workforce and a strong employer brand. According to the International Labor Organization, the job markets in developed economies, including Europe, the U.S., and Canada, are likely to continue to tighten, while in developing economies, particularly in Latin America, the pool of available talent is likely to expand.

A third reason is the growing demand among top talent for more productive, engaging, and enjoyable work, which, for many, includes international assignments. Millennials want to work for global companies with aspirations beyond profit-seeking. The Deloitte Millennial Survey 2017 found that millennials view business positively, but they also believe that multinational businesses are not fully realizing their potential to alleviate society’s biggest challenges.

Together, these conditions are raising the mobility stakes for multinational companies. They also explain why more and more executives are asking my colleagues and I at Bersin, “How can we improve global mobility?” Read the rest here.

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