Companies lacking global presence are losing out on growth
Despite ongoing economic uncertainty, almost three-quarters (73%) of C-suite executives are focused on growing their organisations over the next 12 months, according to a new report from Globalization Partners (G-P).
However, the research finds leaders can’t necessarily find skilled local talent to achieve this growth, forcing them to look beyond borders in search of success.
G-P’s inaugural Global Growth Report brings together perspectives from 2,500 executive leaders and 5,500 employed professionals worldwide, uncovering expectations and employee sentiment in an evolving business landscape.
Surveyed leaders were based in the US, UK, Australia and France, while professionals were based in nine different markets.
The hope is that companies can use the findings to inform strategy and best practice, helping them to become globally-minded and employee-centric.
“Business growth is no longer a linear journey,” says Nicole Sahin, CEO at G-P.
“For organisations to thrive amid today’s ever-evolving market dynamics, they and their leaders need to constantly evolve. Adopting a global mindset is key to navigating change, driving innovation and developing new business models.
“But, having a global mindset alone is not enough. Leaders need to create a holistic business environment that supports an everywhere workforce.
“There needs to be a convergence of global mindset, human expertise and powerful technology to navigate the intricacies of global growth in order to realise optimal innovation, create global growth opportunity and gain a competitive edge.”
Majority of employees on verge of quitting
G-P’s research finds that, while four in five professionals are willing to work for global companies, it seems executives may not be prepared to lead global teams.
Interestingly, the majority (58%) of employees worldwide are already searching for a new job, or plan to do so within the next six months. Almost nine in 10 (88%) of those report wanting to work for a global firm.
Other key findings include:
- Around three-quarters (77%) of executives worldwide say identifying skilled talent in their current markets is a problem, with 72% considering hiring internationally as a solution to their talent needs.
- More than half (56%) of employees list the ability to adapt and remain flexible as the most important quality needed to successfully lead a global team.
- The vast majority (93%) of employees are excited about potential uses of AI at work. As companies look to expand, almost half of all respondents believe the emerging technology can improve predicting business challenges in prospective new markets.
Read the full report: G-P 2023 Global Growth Report: The Rise of the Everywhere Workforce
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