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From CNN
Responding to globalization of the workplace, employees worldwide are developing a new suite of cross-cultural and language skills that will equip them to prosper in a more multinational environment, according to recent findings from a global workplace survey.
The survey, by global workforce solutions leader Kelly Services (NASDAQ: KELYA) (NASDAQ: KELYB), finds that individuals across all generations believe the experience they gain in a globally oriented environment will be critical to their careers.
Gen X (aged 30-47) reports the most direct experience within a global business environment, while Gen Y (aged 18-29) is driving the trend toward globalization, making international experience central to their job selection and promotion. Although baby boomers (aged 48-65) receive less formal support and training than their younger colleagues, they still feel they can succeed in a globalized workplace.
The findings are part of the Kelly Global Workforce Index, which obtained the views of approximately 90,000 people in 33 countries across North America, Europe, and Asia Pacific.
Employees around the globe are recognizing how to thrive in a workplace with fewer international barriers, according to Kelly Services Executive Vice President and Chief Operating Officer, George Corona.
“Exposure to the international workplace is becoming the norm as more highly skilled people develop the capacity to export their talents wherever needed around the globe,” Corona says. “In this environment, the ability to work collaboratively with multinational teams is a critical requirement that we expect to become more commonplace.”
Key findings of the survey reveal that:
-- 81 percent of Gen Y believe it is important to their career prospects
that they become more globally oriented, followed by Gen X (78 percent) and
baby boomers (71 percent).
-- 69 percent of Gen X have recently worked closely with colleagues from
a different country or culture, followed by Gen Y (67 percent) and baby
boomers (66 percent).
-- 84 percent of Gen X feel that they possess the skills to work in a
more globally oriented workplace, followed by Gen Y (82 percent) and baby
boomers (81 percent).
-- In deciding where to work, exposure to a global environment is
considered 'extremely important' by 32 percent of Gen Y, 30 percent of Gen
X, and 26 percent of baby boomers.
-- Only 35 percent of Gen Y receive formal cross-cultural or language
training from their employers, followed by Gen X (33 percent) and baby
boomers (27 percent).
Although Gen X and baby boomers have more international experience, Gen Y more readily embraces that experience as a factor in determining future job choice and career progression. Gen Y also receives the bulk of employer-provided training.
“We are seeing a generation emerge that is very confident operating in a global environment. This will lead to many more transferrable skills, and a business dynamic where human capital can be deployed seamlessly to almost any location on short notice.
“Given the significant role this will play in transacting future business and attracting new talent, we expect to see many more firms devoting resources to equip staff with the language, culture, and flexibility they need to be successful in a truly global context,” Corona concludes.
For more information on the survey results, please visit www.kellyservices.com.
Some interesting, perhaps little-known facts provide a useful contrast between Asia and Europe and demonstrate both the present-day reality and the scope of the future opportunity:
- GDP per capita in Asia (approximately US$15,000) is less than half the EU average, and there is a much wider standard distribution. A large population lives in poverty throughout the continent.
- While India and China are among the fastest-growing economies in the world, the latest figures on GDP per capita are $2,800 for India and $6,000 for China. They should both still be considered developing economies.
- The top GDP per capita countries (2008) in Asia: Singapore ($52K), Hong Kong, Japan, Taiwan, South Korea ($23K), Malaysia, Kazakhstan and Thailand ($8.5K).
- India has 22 official languages that are as distinct and different as the 23 EU languages; half a dozen different scripts are used. English is spoken by a mere 7 percent of the people in India. However, it is possible to get deep penetration into the Indian market with five key languages.
- There is very little content in local Asian languages on the Web, in general. Based on a survey done by Asia Online in 2007, less than 15 percent of the total content on the Web is in Asian languages. Almost 90 percent of the Asian language content is in Chinese and Japanese. There is a huge need for more local language content in Southeast Asia.
- China now has the fastest-growing patent office in the world. The World Intellectual Property Organization (WIPO) states that China is clearly an emerging scientific and technological power.The share of Asian country-based patent filings is now in excess of 50 percent of all patents filed across the world.
- India has more gifted and talented students in high school than the total school student population in the U.S. China has more students in science and technology college degree programs than India and the U.S. combined.
- McKinsey & Company has identified a “Rising Asia” as a stable long-term trend that will fundamentally change consumption patterns.
- Gartner (NYSE: IT) suggests using IT to reach the market. The research firm suggests that global companies use IT to “lighten” their Asian business model in order to address specific cultural, geographic reach, and supply chain considerations.
- Wealthy Asians are concentrated in major cities like Shanghai, Beijing, Hong Kong, Singapore, Kuala Lumpur, Mumbai, Delhi, Seoul, Manila and Bangkok.
- China is now the fastest-growing market for Bentley and BMW.
- Even countries like Laos, Nepal, Pakistan, Sri Lanka, Myanmar, and Cambodia — which have very low GDP/capita — are interesting markets for cellphones and basic commodities.
- An understanding of the critical perspectives of Buddhism, Hinduism and Confucianism can dramatically enhance communications strategies targeting most parts of Asia.
- Google (Nasdaq: GOOG) is not dominant in key Asian markets. In Korea, it has less than 2 percent search market share; in China, about 17 percent; and in Japan, about 20 percent. Local companies dominate because of their better understanding of local content, language and customer
preferences. This suggests that standard U.S. approaches may not work well in many Asian markets. - Chinese social networking startups have produced many innovations that have led to their becoming profitable much faster than their U.S. equivalents, like MySpace and Facebook. Asian innovation is gradually making its way to the West.
- Most of Asia has been relatively unscathed by the global financial and real estate market collapse. (source Commerce Times)
Great story from the Korea Times. When Hyundai Engineering & Construction CEO Kim Joong-kyum took office early this year, the construction market both at home and abroad was not in good shape.
The financial crisis slowed down many large-scale projects overseas, while the domestic market continued to be bogged down by a record-high number of unsold homes. Orders were shrinking with competition at its highest.
All of this meant that the pressure was on for Kim, who was responsible for steering Hyundai E&C through one of the worst economic slumps in history.
Seven months into serving as the top chief, however, Kim has put most of the uncertainties and concerns behind by posting solid records right through the downturn.
Locally, the builder started ramping up efforts to win orders for housing redevelopment projects throughout the metropolitan area and mega public undertakings scattered nationwide.
Overseas, Hyundai E&C won a $1.3-billion gas exploration contract in Saudi Arabia in March. Then, in June and July, it won orders worth $600 million and $1.7 billion, respectively, in Singapore and the United Arab Emirates. Most recently, the company added a $190-million order to build a fertilizer plant in Qatar earlier this month.
The figures added up to hand over Hyundai E&C the market’s No. 1 position again last month after six years struggling to reclaim the top spot.
And many credit Kim for helping one of the nation’s oldest builders renew its industry supremacy.
The veteran Hyundai executive’s willingness to seek transformation and differentiation is what moved the 62-year-old company forward.
Since the first day of taking office, Hyundai E&C officials say that Kim was all about overhauling decades-old systems and practices. Everything from personnel line-up and global management to internal and external communication, the new CEO wanted changed and improved.
Kim said during his inaugural speech: “Hyundai E&C has endured a countless number of hardships throughout its history, but it continued to maintain its market leadership. At this time, what we need is continuous transformation in order to become a global top leader.”
Former President Bill Clinton spoke to a sold out crowd at the Pasadena Civic Auditorium in the USA on Monday, lecturing about the current political climate while detailing the advantages and pitfalls of living in an increasingly interdependent world.
Entering to an enthusiastic standing ovation in the 2,900-seat theater, Clinton shared his take on globalization and its effects, focusing on the challenges he believes an interdependent world faces.
“While we’re all connected, this is a very unequal world and in most places it’s growing more unequal,” Clinton said.
Clinton discussed pervasive discrimination that remains against women in most parts of the world as well as the growing income disparity in the U.S. He spent a
significant amount of time arguing for health care reform.
“We’re the only rich country in the world that can’t figure out how to give everybody health insurance,” he said, calling our current system “embarrassing.”
Clinton also addressed humanitarian intervention in the world, arguing that such intervention increased national security by improving the image of the country abroad.
“Anything we do to make chances slightly more balanced makes people think more of us,” Clinton said, adding that he recently returned from a humanitarian visit to Haiti.
