Survey: Talent Management Challenged in Multinational Markets
July 10, 2012
Emerging market multinationals are struggling to build effective international management teams as they grapple with cultural differences, conflicting internal perceptions of talent management, according to a new Ernst & Young survey of 810 business executives from all major growth markets.
The majority of respondents lack confidence that their organization has or can build an effective international management team, the survey said. Just one in five (20 percent) said their company manages talent effectively across all markets. Less than a third of respondents polled said that their top management team has an international outlook on decision making (28 percent). The same number said their top management team has sufficient work experience outside of their home country.
The two main knowledge gaps in top management teams are an awareness of local culture (51 percent) and an understanding of global markets (50 percent). Only 18 percent said their company achieves the right balance between local talent and expatriate managers in international markets.