Emerging Markets: Human Capital Trends
The Front Line for Growth and Talent
In 2010, leading U.S. automobile companies manufactured and sold more cars in China than here in the United States. Not a bad indication of how the new world works. Today, businesses in many industries are scrambling to enter and expand operations across the globe. Emerging markets are the world’s growth engines — and are on the C-suite agenda. What does this mean for HR and talent?
For many HR organizations, emerging markets used to be the last thing they focused on. Now it’s becoming the ﬁrst.
HR today is increasingly asked to support global growth strategies, with a speciﬁc focus on emerging markets. In fact, a recent Deloitte and Forbes Insight Survey highlighted the competition for talent that is occurring globally and in emerging markets as the most pressing talent concern today.
While some organizations and their HR leaders are well prepared for this shift in focus, many are not. Many companies ﬁnd themselves with HR teams and capabilities, primarily sitting in the United States and Europe, with little experience and depth in emerging markets.
The expected growth in demand - in both product and talent markets - in emerging countries has led to a signiﬁcant shift in the emphasis and conﬁguration of HR capabilities that will accelerate over the next few years.
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