Perspectives on Recent Survey Indicating
Executives Demonstrate Willingness to Relocate: Preparing to Lead Globally
Korn/Ferry recently surveyed (Executive Quiz - May 3, 2010) executives from 65 countries about their willingness and motivation to relocate and they found that the majority of participants, 82%, stated a willingness to relocate to another region, state, or country for new career opportunities. "Career acceleration" was indicated as the primary reason to move; however, in times past one of the top reasons that employees relocated was to increase their compensation. That doesn't seem to be the case in these results as "quality of life in a new location" was indicated as one of the primary motivators for relocation. Obviously, the global recession is having a significant impact on everyone, and it is now a "buyers market" for talent. You can link to the full article by Korn/Ferry here; however, I would like to share just a little personal perspective, some indicators of this shift that I am noticing, and the context of the conversations that I am having with my coaching clients.
We recently relocated to London on a global assignment with my husband's company. While it was a difficult decision to leave the U.S., we believed it would be a wonderful opportunity. My husband and I both developed our career goals early and we knew that a global assignment would not only be a tremendous benefit from both an experience and a networking perspective, but also a requirement for our continued success and effectiveness within the global marketplace. Additionally, we wanted to expose our children to other cultures and new ways of thinking.
Since our move, I have received many questions from my coaching clients regarding our transition, including our perceived benefits and disadvantages and the current "global assignment" landscape. The first few months was a definite adjustment because we had to get used to everything from new brands to a new work commute and driving on the left hand side of the road. However six months later, I can say that I believe that we are well adjusted and now have a supportive network of work colleagues and families. I have learned to drive on the left, and also to effectively coach over the phone while managing different timezones. My husband is settling into his new role, and he seems to be gaining knowledge at warp speed regarding what it takes to run his global organization. And he is building relationships with other leaders from around the world. Our children, in just a short time, seem more accepting of other cultures and nationalities. My daughter has good friends from many different countries and it no longer bothers her to be in a household where everyone speaks a different language. My son brings home science projects and is being asked to study reproductive procedures that I didn't even know existed. I am continuously impressed with the content of my children's curriculum at this international school - it is much more focused on global citizenry than what we experienced in the U.S. I am not sure that there are disadvantages, except the obvious ones. We miss family events and celebrations, and cannot be there easily in person for loved ones. Our home country will always exhibit aspects of culture that we cherish that other countries may not. With that; however, we feel very fortunate to be on this global assignment, and I would highly encourage anyone with global career aspirations for themselves or their children, to seek international experience.
While global assignments may be desired, the local indicators in the expatriate community are that assignments are becoming fewer and farther between, at least for the time being. Last year, my children's international school saw one of the largest reductions in re-enrollment since 9.11. The local buzz is that many of the expatriates who were scheduled to stay for three or four year assignments were pulled back early. And the trend seems to be continuing this year. We have just been informed that at least five of the families who are in our immediate circle of new friends, will be going back home earlier than expected, or have been offered positions to stay but as a local hire instead of an expatriate. This is disconcerting news; however, we must assume that the recent economic downturn is the cause for this reduction in global assignments. In fact, one may argue that the recent economic downturn will also further promote the requirement for global development, especially for companies that are already stretching their own national boundaries. I believe that we should focus on the latter.
With this information, several questions come to mind. How can we prepare our leaders for globalization? If the demand is exceeding the supply right now, how can we become creative in the interim to support the development of these skills that are needed?
These are questions that I would like to continue to research for a more thorough answer; however, I will outline some high level recommendations that I provided recently to a client desiring to transfer to his company's overseas operations facility:
1) Gain a thorough understanding of the degree to which your organization operates within the international marketplace. Understand which functions exist globally, what percentage of revenue and profits are gained from these markets, and the statistics on customers and consumers from international markets. Find out how this information is expected to change for your company in the next 2 to 5 years.
2) Understand how your company is expanding, or plans to expand globally. There are multiple globalization models (see John L. Daniels book, Global Vision). What strategy does your company employ? What are its strengths and weaknesses? Evaluate your company's external environment - understand the impact of global trends on your organization's plans for growth. What skills and expertise will your company need to be successful with globalization?
3) Develop an understanding of common business processes from a global perspective. This is important for all organizations. I have noticed in the past 12 to 24 months a renewed focus on large scale process simplification strategies. This is both a cost savings strategy and an expansion strategy. Companies can expand more easily if they have simple processes which allow them greater flexibility. One US company in which I coach has 3 of its 8 strategic objectives focused on the understanding, management, and development of a more robust supply chain. This is directly related to their globalization goals, and they are seeking key talent with supply chain experience.
4) Learn about cultural differences between your home country and the countries in which you desire to work (Cultures and Organizations: Software of the Mind by Geert Hofstede is an excellent resource). Cultural differences are related to areas such as authority, hierarchy, societal perceptions, perceptions of time and personal space, ways of dealing with conflict, and the expression of feelings in the workplace. My husband has boiled down his success in working with other cultures to one key trait associated with his interpersonal skills; mindfulness. Other executives describe a "high level of adjustment", "tolerance for ambiguity and change", "active listening", and "building trust" as key behaviors required in a global workplace.
5) Determine your personal value proposition associated with your desires to work globally. How can your unique gifts, abilities, skills, and leadership behaviors support your organization's global success? This is often a step that my clients skip, which is a huge mistake. If you have achieved answering the questions in 1-4, do not stop there. Use that information to build a business case that supports the company in choosing you over other key talent for a critical global role.
6) What opportunities are available right now that would provide you with exposure to global business practices, strategies, or an opportunity to lead globally? Brainstorm this question with other leaders in your organization. Hold informational interviews with those who are currently involved with setting strategy, and have your personal business case ready.
These are my current recommendations for understanding global initiatives and for positioning yourself to take advantage from a leadership perspective. As I continue writing postings for this blog, I plan to further research topics such as mindfulness, dialogue, and the more character based traits that are creating positive outcomes for multi-cultural leaders and teams.