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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.
The following is an excerpt from the latest installment of CTPartners Trend Talk series on Human Resources.
Read the full article here.
With world-class organizations leading the way, HR is playing an ever more critical role in enabling corporations to achieve their strategic objectives by developing and implementing those human capital strategies that will best enable them to respond to the significant economic forces, competitive realities, and demographic trends that are shaping today’s and tomorrow’s possibilities.
In industries and regions around the globe, developed and developing economies alike, human resources executives increasingly are serving as thought leaders and essential business partners to chief executives, boards of directors, C-Suite executives, regional and country managers, and other members of worldwide leadership teams. As the value of this management trend becomes more apparent, companies are expanding their vision of, and commitment to, strategically oriented human resources.
For a profession that was once most closely associated with administrative functions such as benefits and compensation, this is nothing short of a transformation. As one of the most impactful management developments in today’s global marketplace, the trend first took root in North America and Europe, soon spreading to other developed economies such as Australia. It is, however, rapidly gaining momentum in emerging markets throughout Asia, Russia and Central Europe, the Middle East, and Latin America.
Indeed, the HR landscape is rapidly evolving. In developing regions across the globe, exceptional growth opportunities are combining with razor-sharp competition and highly complex talent challenges in ways that demand–and deeply benefit from–the insights and involvement of strategically minded, broadly experienced, and culturally sensitive human resources executives.
Within emerging markets, this expanding role of HR is scarcely surprising, whether this change is taking place within global or regionally based corporations. That’s because talent truly does deliver the competitive edge in these economies, where speed is of the essence in capitalizing upon new and unfolding business opportunities, and the demand for qualified professionals far exceeds supply.
Recently CTPartners released the latest report in the Firm’s Trend Talk series: Digital Media. Following is an excerpt.
The power of technological advancement to transform an industry or a business function has long been recognized. But rarely has new technology had the kind of impact upon the business models of so many industries and corporate functions as has the advent of digital media. In some cases, such as publishing and print media, digital media has upended a company’s core business model. In other cases, digital tools simply offer new and improved capability for internal communication and organizational efficiencies.
And for many companies, the opportunities for commerce and external communication offered by digital media are now remaking business tactics and strategies connected to sales, marketing, pricing, branding, customer service, crisis management, and more. That’s true for industries ranging from financial services to retailing, and for companies making consumer products ranging from shampoo to sports cars, and just about everything in between. As goes almost without saying, digital companies themselves are continuously revisiting their business models, considering new offerings to feed the seemingly insatiable consumer appetite for digital products and services. Read more at http://www.ctnet.com/CTNet/TheFirm/TrendTalks.htm.
