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Exotic location companies need managers to develop local talent
| Published: | 19 Dec at 6 PM |
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In spite of the current financial woes, international companies are still searching for experienced expat managers at premium salaries.
A recent survey revealed that the ongoing financial crisis hasn’t dampened down demand for capable expat managers, especially in exotic locations such as Azerbaijan, Armenia and Mongolia. Emerging economies are attracting international companies keen to latch on to a portion of the rapidly-expanding business opportunities before their rivals arrive.
The survey quizzed regional and global Human Resources directors from 300 companies operating overseas, with only 16 per cent admitting the global turn-down had harmed their operations. Of the respondents, 46 per cent admitted some slight harm, and 32 per cent said it hadn’t affected them at all.
Expat packages aimed at attracting the best motivators to managerial positions are generous, valued at an average of £290,000 and including salary, incentives, bonuses, cost of living allowances and benefits such as school fees and housing. The total amounts are four to five times the local wages, explaining the rush to sign up senior management staff with an aptitude for training local workers.
With traditional expat employment havens such as the UAE cutting back on the cost of expat workers or, like Saudi Arabia, bringing in nationalist employment policies, it would seem that heading to remote overseas locations is the new way to get the full benefits of the expat lifestyle. Perhaps emerging market destinations may even prove more secure in the longer run for adventurous expats.
A recent survey revealed that the ongoing financial crisis hasn’t dampened down demand for capable expat managers, especially in exotic locations such as Azerbaijan, Armenia and Mongolia. Emerging economies are attracting international companies keen to latch on to a portion of the rapidly-expanding business opportunities before their rivals arrive.
The survey quizzed regional and global Human Resources directors from 300 companies operating overseas, with only 16 per cent admitting the global turn-down had harmed their operations. Of the respondents, 46 per cent admitted some slight harm, and 32 per cent said it hadn’t affected them at all.
Expat packages aimed at attracting the best motivators to managerial positions are generous, valued at an average of £290,000 and including salary, incentives, bonuses, cost of living allowances and benefits such as school fees and housing. The total amounts are four to five times the local wages, explaining the rush to sign up senior management staff with an aptitude for training local workers.
With traditional expat employment havens such as the UAE cutting back on the cost of expat workers or, like Saudi Arabia, bringing in nationalist employment policies, it would seem that heading to remote overseas locations is the new way to get the full benefits of the expat lifestyle. Perhaps emerging market destinations may even prove more secure in the longer run for adventurous expats.
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