It is that part of the year, when most are taking stock of the larger picture, and strategising about the plans for 2017. As a member of an international recruiting network, with over 500 partners across 40 countries, I have been fortunate to be on multiple conference calls over the past week, across industries and continents & comparing notes.
The calls this week -to me- seem a vindication of a report by PwC, Talent Mobility: 2020 and beyond, forecasts that the number of people on global assignments will increase by 50 per cent by 2020.
The direction of mobility is changing, with emerging markets becoming important. There are generational differences when it comes to mobility,
- 71% of millennials wanting and expecting an overseas posting during their career.
-short-term assignments, often lasting a year or less, have become more popular; 20 % of assignments now last less than 12 months, compared with 10 % in 2002.
It is interesting to see the patterns changing. If the expat assignments of 2-5yrs stints were the norm in 1970-90, the period 1990-2010 saw the growth of offshoring & growing emerging markets perpetuating a lot of talent flow from the West to East.
Future View -2020?
Global mobility continues to grow in volume. Within the context of closely aligned international regulatory frameworks, the growth of cross-border acquisitions by sovereign wealth funds, lingering public investments in private business concerns, greater security cooperation between nations, and information technology that canidentify and connect talent in an instant, global mobility becomes part of the new normal.
Some of the scenarios that are increasingly emerging :
-Mobility of talent is fluid. For example, a Chinese company may engage a European team to manage an investment in Africa. Another US Major is setting up a theme park in China in 2019, and is looking for professionals who can join in Florida, & willing to beget deputed to Beijing for about 18 months!
-Western employers are losing their appeal. More skilled workers from emerging economies will return home to exploit their new-found skills in the lucrative domestic markets. Local workers with international experience are often far more attractive to domestic employers than foreign workers in the same market.
-Pressure of pay. Economies, living standards and compensation levels are beginning to harmonise across the globe. Some organisations have already adopted ‘destination pay’ and ‘local plus’ remuneration methodologies across many of their locations, allowing employees to be more quickly and easily deployed in a cost-effective way.
All these trends emphasise - a borderless workforce. If companies are to become nimble enough to respond to unexpected changes, they should see their workforce as essentially borderless. That could mean developing talent where the jobs are, relocating talent to the jobs, or moving jobs closer to sources of talent, within the constantly shifting constraints of international immigration law.
What does it mean for a hiring professional like me? I am privy to several exciting roles being shared by specialist partners -from different continents & it is becoming clearer the world would be a better place only if one were to collaborate. The jobs are becoming increasingly complex as the businesses evolve.
As an employee, it is time to change one's mindset. Constantly reinvent oneself to remain relevant in the changing times. Or even pick up cues from a millenial who is quick to share “I expect to travel and my career will be more about enjoying the experience than earning money.”
I was lucky to be drafted at the eleventh hour to be a Mentor -at an event, that was the Hyderabad leg in the launch of a pan-India Group Mentoring program for women who are looking to restart their careers after taking breaks for marriage/motherhood/elderly-career, etc.
There were about 15+ ladies who had made it convenient to participate, and I am sure they would have benefitted from the opportunity to get a 1-on-1 with the senior professionals and get some insights on the opportunities in the specific domain/company and some tips to find themselves closer to their dream job
Here are my thoughts:
-I loved the energies. All the mentees had the luxury of picking the Mentor they wanted, And in turn, as a Mentor shared " had a great time today as well and definitely want to help".
-It was ironical that almost all the ladies seemed low on confidence, almost at the end of their wits. And that despite being well qualified, had stints in the industry, in India and some even abroad, and post a sabbatical! It was admirable that they had shed their inhibition and made it to the event, keen to explore how they could catch the attention of those who mattered. The senior professionals from companies like Cognizant, Google, Sears, & Wells Fargo!
As a recruiter -I let each aspirant know, that just as anxious as they were, in finding a good break, a lot of hiring managers spend sleepless nights hoping to find a talented colleague too. And rather than being defensive about the tenure/break, they ought to be focussed on being able to connect to the right decision makers, showcase their strengths, and validate their interests with testimonials of being abreast with the latest.
I parrotted that
- it wasn't always the best who got the best jobs, but often the right person at the right time- emphasising the need to be found by those looking to fill in positions.
-By being visible on social media (completed Linkedin profiles, participating in online meet-ups / groups of interest), they would do well increasing their credibility with physical networking with industry.
-Perhaps they needed to get back into the groove, by taking on projects/roles, rather than waiting for the dream job on a platter the first time. Instead consider SMEs and Startups who value their impact, and not merely apply for large MNCs-that may have a lot of systems already in place..& may tend to be bureaucratic in appreciating the value one brings.
-And yes, by tailor making a resume/CV for the specific opportunity by highlighting their accomplishments for the role in question.
Takeaways for Corporate recruiters?
-Access to experienced & committed talent pool, hungry to make a difference
-Reflect on the quality of the candidature, and the 'years on the job'.
-Time to consider flexible options -interns, part time or virtual jobs for mature professionals than eager freshers who are'nt yet sure of what they wish to do.
-And yes, those who can join at short notice, with negligible notice period.