Human resource professionals at multinational
companies in emerging markets such as China, Hungary, India, and Malaysia have
reported in a recent survey that candidates for engineering and
general-management positions exhibit wide variations in suitability (Guthridge
et al., 2008). According to the McKinsey
Global Institute, only 13 to 19 per cent of 33 million university graduates in
developing countries are suitable to work in a multinational company, due to
their lack of language skills, low quality of educational system, and lack of
cultural fit. Also, only a fraction of
these people are willing or able to relocate to foreign countries for
employment (McKinley Global Institute, 2005).
It also remains the biggest challenge for global organizations‘human
resource departments to manage a workforce diverse in culture and language
skills, and distributed in various countries.
It is critical that the businesses not only familiarize with local ways
of doing business, and understand the needs of local consumers, but also
develop a global mindset among their employees. Being at the center of globalization,
multinational organizations need to learn to integrate diverse value systems
and espouse shared global work values to create an environment, where workers
are able to communicate and coordinate their activities to reach common goals
(Rosenblatt, 2011).
REFERENCES
- World Economic Forum (2011) ‗Global Talent Risk – Seven Responses‘
- Guthridge, Matthew, Asmus B. Komm, and EmilyLawson (2008) ‗Making talent a strategic pripority‘ McKinsey Quarterly, January
- McKinley Global Institute, ‗The Emerging Global Labor Market: Part I - The Demand for Offshore Talent in Services‘, (2005)
- Rosenblatt, Valerie (2011) ‗The impact of institutional processes, social networks, and culture on diffusion of global work values in multinational organizations‘, Cross Cultural Management: An International Journal, Vol. 18, No. 1
Good article Wasantha. Demand for talented people increasing in present competitive world and interesting records that only below 20 percent is fit to work in multinational level. So HR managers have real challenge to develop the mindset of their employees to work in a globalized situation. Thanks for sharing.
ReplyDeleteTHANKS JINENDRA
DeleteInteresting article Wasantha .Its a real challenge for future HR managers to manage diverse workforce coming from different culture with different knowledge skills.
ReplyDeletethanks nethra
ReplyDeleteAs you stated The demand for talented people is growing not only from developed countries, but from the developing countries themselves as they pursue their own nation building.Thanks for sharing.
ReplyDeletethanks malintha
DeleteGood stuff. As you said increased educational opportunities in emerging nations. Globalization and education then come to affect one another through mutual goals of preparing young people for successful futures during which their nations will grow increasingly connected. Thanks for sharing.
ReplyDeletethanks prasanna
DeleteAgree with you that the most important task of multinational organizations is to understand the cultural differences before implementing the rules and regulations. Good one.
ReplyDeletethanks anupama
DeleteCountry like us who make less production have more challenges than other countries.Countries like Malaysia,Vietnam,Thailand have surpassed our country by overcoming these challenges.
ReplyDeleteAppreciate your work.
thanks kasun
DeleteCountry like us who make less production have more challenges than other countries.Countries like Malaysia,Vietnam,Thailand have surpassed our country by overcoming these challenges.
ReplyDeleteAppreciate your work.
thanks kasun
DeleteIn your article, it says only 13% - 19% of university graduates are suitable to work in multinational companies due to lack of language skills,lack of culture fit and due to low quality education systems.Good point to note.Thank you for sharing this valuable facts...
ReplyDeletethanks venura
DeleteThe world have been now open for skills and talents as a result of globalization. It is not difficult to find a job which suits a person's passion. Thank you for sharing.
ReplyDeletethanks jehan
Delete