We have described principles that any company, in any market, would probably do well to heed. But emerging markets pose some special challenges worth noting. First, beware of exporting your domestic talent strategy to emerging markets. Even if that strategy is highly successful at home, it will probably need extensive tailoring to succeed in the developing world. Second, it's critical to establish a core of local talent (or of outsiders with a long history in emerging markets) that can guide you in understanding the region. Sending in a talent officer from the corporate center is unlikely to do the trick; despite the pressure to bring people on board quickly, investments in talent take root only with patience. Third, keep in mind that an overreliance on English as the "official language" of the business may prove an impediment to spotting talent. Some of your most promising people may not speak English fluently.
Finally, it's not easy to embrace and leverage diversity; companies struggle with this in the developed world, too, and very few demonstrate much diversity at the top. In emerging economies, companies have no choice but to nurture local talent, because that's the pool available and because those bright young recruits want to see others like them in positions of power. A truly merit-based company will stand out to them-particularly in hierarchical societies where getting ahead has often relied on family connections and other relationships, social status, age, or length of tenure.
People in different cultures want and expect different things from their work. Gabriel Rozman, of TCS Iberoamerica, reminded us that leading a team in India is not the same as leading a team in Brazil or Uruguay. He recognizes that his company must develop people who can lead diverse teams in various settings. Of course, this makes a commitment to keeping promises made all the more daunting, because companies can't implement onesize- fits-all processes. First figuring out which aspects of the strategy can be standardized and executed at scale and which must be sharply tuned to local needs and then coordinating implementation takes some effort- but it delivers payback. Over time, global companies may even be able to bring home some lessons about meritocracy and diversity.
As global companies are well aware, winning the race for talent in emerging markets is hard work. It requires both the explosiveness of the sprinter and the determination of the marathon runner. The framework we have outlined here should help companies assemble the workforce they need to compete on a world-class level.
Finally, it's not easy to embrace and leverage diversity; companies struggle with this in the developed world, too, and very few demonstrate much diversity at the top. In emerging economies, companies have no choice but to nurture local talent, because that's the pool available and because those bright young recruits want to see others like them in positions of power. A truly merit-based company will stand out to them-particularly in hierarchical societies where getting ahead has often relied on family connections and other relationships, social status, age, or length of tenure.
People in different cultures want and expect different things from their work. Gabriel Rozman, of TCS Iberoamerica, reminded us that leading a team in India is not the same as leading a team in Brazil or Uruguay. He recognizes that his company must develop people who can lead diverse teams in various settings. Of course, this makes a commitment to keeping promises made all the more daunting, because companies can't implement onesize- fits-all processes. First figuring out which aspects of the strategy can be standardized and executed at scale and which must be sharply tuned to local needs and then coordinating implementation takes some effort- but it delivers payback. Over time, global companies may even be able to bring home some lessons about meritocracy and diversity.
As global companies are well aware, winning the race for talent in emerging markets is hard work. It requires both the explosiveness of the sprinter and the determination of the marathon runner. The framework we have outlined here should help companies assemble the workforce they need to compete on a world-class level.
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