Globalization

In this report, Korn Ferry identifies key gaps that need to be considered for British Columbian organizations to recruit, retain and manage top talent.

China has long been the location for companies to base their production due to the cost advantage. But rising costs in China’s manufacturing centers are pushing the “Factory Asia” further away from China into its Southeast neighbors. Odgers Berndtson finds that in some cases companies are ‘on-shoring’—moving production out of Asia altogether and back home.

Stanton Chase partnered with industrial corporations around the world to understand executives’ perceptions on the industry opportunities and challenges. Although met with challenges surrounding talent acquisition and global competition, executives overwhelmingly are confident and optimistic. 82% of the respondents described their business as “equally as strong” or “stronger” than one year ago.

The Boyden Report examines the Nordic region where stable markets oppose the need for international expansion. While the report highlights local market difference there is an overall regional trend of Nordic business leaders pushing ahead through tough markets by maximizing local strength.

Although the end of 2014 was marked by a decline of the ruble’s value, it did not impact employee compensation. Ward Howell finds that the vast majority of those surveyed confirmed bonuses for 2014 will be paid in full and that there will not be any significant change in compensation. The reason for increasing budgets in 2015 is to help build trust among employees, and improve employer’s brand during the tough economic situation.

Korn Ferry finds that healthcare providers will find Asia a land of opportunity. To conduct the study, Korn Ferry interviewed senior executives at healthcare companies across Asia for insights into the opportunity and changes occurring.

Russell Reynolds Associates finds that the chemical and process industries are seeing rapid changes due to globalization, commoditization and structural changes. To respond to these changes many companies have responded with mergers and acquisitions to reshape business portfolios and enter new markets and regions.

Asia has become one of the drivers of the world’s economic growth. Between now and 2030, Asia is expected to grow twice as fast as advanced economies. The domestic firms in the region are rising in competitiveness and increasingly a risk to western multinational companies. Russell Reynolds Associates teamed up with CEB to examine ways to find and retain leadership talent in Asia.

Few positions have undergone as thorough a transformation as that of chief supply chain officer (CSCO), also referred to as chief operating officer (COO). As supply chain has evolved and become more complex, so does the role of the CSCO. The supply chain is no longer just getting goods from point A to point B.  Russell Reynolds Associates finds that this changing environment means companies need to re-evaluate their criteria for appointing a CSCO.

Competition for top executive talent is increasing. Organizations are at risk to lose some of their brightest leaders if they have not recently acknowledged their achievements. Global executives who are under pressure to perform would be well served to assess the quality of their team.