The following is an excerpt from the latest installment of CTPartners Trend Talk series on Emerging Markets.

Read the full article here.

Building and managing a talent base across multiple geographies, including mature and emerging markets, is a continuing challenge for global corporations. Emerging markets in particular often present new hurdles, almost universally including shortages of senior and specialized executive talent, even as regional operations are growing rapidly.

When the portion of corporate revenues generated in emerging markets amounted to a few percentage points, it was easier to downplay the significance of such challenges. That is no longer the case. As an ever-growing portion of the revenue of global businesses is earned in emerging markets, corporations must direct new attention to fully understanding and appreciating those markets and the unique talent management requirements that must be met in order to operate effectively in target regions.

Today, a global talent imbalance persists, with mature markets facing high unemployment amid economic malaise, while emerging markets experience talent scarcity amid more rapid economic growth. And although it is a significant challenge to recruit and retain expert, experienced executives across the globe, that is especially the case in emerging markets, where senior and specialized talent shortages are the norm. Amid rapid growth, multinational corporations need well-informed and thoughtful strategies for navigating the talent markets of these pivotal economies, as well as targeted development programs that will build the emerging markets leaders of tomorrow.

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