Over last few decades, globalization has pushed many organizations to turn their focus towards emerging markets in search of new clients and competitive advantage. But the draw of the growing middle-class consumer base is often matched by the struggle to find talent with the rights skills and competencies. The solution is generally to import foreign employees to work alongside local hires, to provide the skills and experience necessary to run the business in the short-term and help build local capabilities for the long-term.
But asking an employee to uproot her life and move isn’t an easy sell, especially for assignments of long duration. Add a challenging economic, social or geopolitical environment, and you leave employees with a difficult choice.
There are several factors that can contribute to differences in living conditions when moving between locations. The annual Mercer Quality of Living survey evaluates local living conditions in more than 450 cities surveyed worldwide. In these article, we share the 10 factors that organizations must take into consideration when sending employees abroad, preparing for them both in terms of adequate planning and adequate pay.
What Emerging Markets Can Do to Attract Skilled Talent
Having run this study for the last nineteen years, we felt a need to introduce a ranking dedicated to infrastructure this year. Asia is leading the world’s economic growth today, but also its infrastructure growth.
"Governments in Asia and elsewhere across emerging markets recognize that investments in infrastructure go a long way in attracting multinational companies and the skilled talent that comes with them."
A positive cycle of progress is created as their local economy gets a boost from the new skills and opportunities available.