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Survey shows financial crisis has little effect on expat jobs
| Published: | 11 Dec at 6 PM |
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Tagged: Euro
Notwithstanding the present-day tough economic situation, the number of expat executive employees around the world has seen no reduction, according to a recent survey.
The poll, conducted by consultancy Pedersen and Partners, revealed that although salaries and benefits in the sector had increased threefold, fewer than 20 per cent of international companies have been forced to hire fewer expats at executive level. The result indicated that, although cutting expenses is a priority, potential mismanagement losses can be far more costly.
The majority of companies surveyed stated they would eventually prefer to employ local talent, with only 15 per cent stating they would employ foreigners to replace those leaving and 50 per cent voting for replacement with locals. However, most considered that finding local talent at a high enough standard was a problem, with 65 per cent of respondents noting a dearth of local expertise and suitable qualifications.
An evolving situation in the fast-emerging regions of Eastern and Central Europe sees more local managers being employed, although in developing countries with poor schooling expat management is on the increase. Many companies are instigating tough management training programmes leading eventually to top executive positions for talented local workers.
It seems that expats are still needed in crucial positions such as business development, the implementation of corporate culture, structure and work ethics, as well as training procedures for locals. A high number of international companies are still stipulating that a successful foreign assignment is mandatory for progression up the corporate ladder.
The poll, conducted by consultancy Pedersen and Partners, revealed that although salaries and benefits in the sector had increased threefold, fewer than 20 per cent of international companies have been forced to hire fewer expats at executive level. The result indicated that, although cutting expenses is a priority, potential mismanagement losses can be far more costly.
The majority of companies surveyed stated they would eventually prefer to employ local talent, with only 15 per cent stating they would employ foreigners to replace those leaving and 50 per cent voting for replacement with locals. However, most considered that finding local talent at a high enough standard was a problem, with 65 per cent of respondents noting a dearth of local expertise and suitable qualifications.
An evolving situation in the fast-emerging regions of Eastern and Central Europe sees more local managers being employed, although in developing countries with poor schooling expat management is on the increase. Many companies are instigating tough management training programmes leading eventually to top executive positions for talented local workers.
It seems that expats are still needed in crucial positions such as business development, the implementation of corporate culture, structure and work ethics, as well as training procedures for locals. A high number of international companies are still stipulating that a successful foreign assignment is mandatory for progression up the corporate ladder.
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