A growing number of firms from emerging markets are planning to increase the number of staff they hire in North America and Europe, a new report has revealed.
A study by the IBM Institute for Business Value involving over 700 Chief Human Resource Officers and other senior executives from 61 countries, found that Indian and Chinese firms are leading the way in recruiting from mature markets
Almost half (45 per cent) of companies in India and a third of companies in China plan to increase their headcounts in North America, the report found. Meanwhile, 44 per cent of Indian companies and 14 per cent of their Chinese counterparts plan to expand in Western Europe.
These dramatic increases are symptomatic of how Indian and Chinese firms are increasingly willing to look globally for the talent and resources that will make them successful.
They also highlight how workforce investment is moving both ways rather than following the traditional pattern in which companies in mature markets seek operational efficiency through headcount growth in emerging economies.
"The silver lining of globalization is that the shift toward expansion will require companies to redirect their workforce to locations that provide the greatest opportunities, not just the lowest costs, and at the same time, re-imagine their management strategies to reflect an increasingly dynamic workforce," said IBM's Denis Brousseau.
"More than ever before, competitive success will depend the leadership talent to assimilate information and share insights among a diverse group of employees around the globe."
The report also revealed that only one in three executives across the globe believed their respective organisations were adept at nurturing and developing future leaders.
