More executives are looking to hire abroad and groom in-house talent as companies shape corporate strategies in a tepid – and increasingly global – economy, according to a Deloitte Consulting report.
Amid economic uncertainty, companies in mature economies are increasingly seeking to grow by expanding internationally, especially into emerging markets. To do so effectively, executives recognise the need to make international hiring and leadership development a priority, according to Deloitte’s “Talent Edge 2020: Redrafting Talent Strategies for the Uneven Recovery”.
“As talent demands go increasingly global, the pressure is building to create talent strategies that … focus on regional markets,” the report says.
The survey polled 376 senior business leaders and human resources executives from across the globe. Among the findings:
- Thirty-three percent of executives listed “expanding into global and new markets” among their top three strategic priorities, up from 14% two years ago.
- When respondents were asked about strategic issues capturing the most management attention, improving top- and bottom-line performance was the most frequently cited (38%).
- Twenty-nine percent of executives listed “recruiting hard-to-find skill sets” among their top three most pressing talent concerns in 2011, making it the second-most selected concern, behind “developing leaders and succession planning” (30%).
- Twenty-three percent of executives listed “competing for talent globally and in emerging markets” as a top talent concern. Asked to look ahead three years, 27% of respondents named the concern a top-three priority.
—Jack Hagel (jhagel@aicpa.org) is the editorial director of CGMA Magazine.