WInning the Race for Talent in Emerging Markets

You will need to turn in on each date indicated below, a three full page paper (typed, double spaced, normal margins, and a #12 font) summarizing the article for that day and addressing the issue for that article noted in the list below. 

article #2, Winning the Race for Talent in Emerging Markets,  Provide me with a brief synopsis (short cumulative review) of the article and then address this issue: do effective recruiting tactics vary by culture?  Will you find possible variations even within a culture, such as within the United States?(the essay should be about what you think about the issue “do effective recruiting tactics vary by culture?  Will you find possible variations even within a culture, such as within the United States?” relating with the main topic “Winning the Race for Talent in Emerging Markets,”?) you also have to say the why you think that?)  https://hbr.org/2008/11/winning-the-race-for-talent-in-emerging-markets

 

WInning the Race for Talent in Emerging Markets

·        
Douglas A. Ready

·        
Linda A. Hill

·        
Jay A. Conger

From the November 2008 Issue

With economic activity in emerging markets growing at compounded rates of around 40%—as compared with 2% to 5% in the West and Japan—it’s little wonder that many companies are pegging their prospects for growth to Brazil, Russia, India, and China (BRIC) and, increasingly, other developing nations. Businesses based all over the globe are feverishly competing for people who, often for the first time in their lives, have numerous options and high expectations. Not even companies with established global experience can coast on past success in meeting their staffing needs.

 

One might assume, for instance, that Standard Chartered Bank, whose heritage dates back to the 1850s in India, Hong Kong, and Singapore, could easily maintain a lead in the race for Asian talent. But just a couple of years ago SCB’s China division was unable to find seasoned managers to lead the bank’s retail and commercial banking operations. In the words of Hemant Mishr, the head of corporate global sales, “These people and the generations that preceded them have known nothing but poverty and the lack of opportunity. Yet we expect them to be patient, loyal soldiers, and to advance at an orderly pace. It is time to get real. It is their time now.”

All three of us have spent decades studying talent management and leadership development, but this war for talent is like nothing we’ve ever seen before. We recently completed an eight-month research project that involved interviewing dozens of executives and collecting data from more than 20 global companies. Our goal was to identify the factors that differentiate the successful from the less so in emerging markets, and our first analysis revealed four: brand, opportunity, purpose, and culture. These may sound somewhat generic—and logical in any talent market—but they play out in developing nations in particular ways.

 

Employees in the developing world aren’t used to thinking about the future in expansive terms. Now they can look beyond simply making a living. They are particularly attuned to brand, for instance, because a desirable affiliation may lead to personal advancement—especially when the brand is associated with inspirational leadership, the kind that challenges employees to develop themselves as leaders and to help build a great company that plays on a global stage.

Not surprisingly, opportunity means much the same in the developed and developing worlds: challenging work, stretch assignments, continual training and development, and competitive pay. In emerging markets, however, opportunity must imply an accelerated career track to senior positions. High-potential employees don’t focus exclusively on climbing the ladder, however; they are willing to make lateral moves as long as their skills and experience accrue at a pace that matches the growth in their markets.

#WInning #Race #Talent #Emerging #Markets

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