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Expats on the move again after recession
By Wang Yanlin |
September 17, 2010, Friday
|
Print Edition
Print Edition
MANY multinational companies plan to post more executives abroad after the global economy recovers from the recession, and most will be sent to China and India, according to a research report released yesterday.
Compared with the situation in the past two difficult years when 37 percent of respondent companies recalled overseas staff and only a little more than 10 percent added to their expatriates head account, 39 percent said they plan to raise expatriate staff levels over the next five years, according to the Economist Intelligence Unit and Regus.
The research surveyed 418 senior executives from 77 different countries and regions in July. It found companies are far more likely to send expatriate staff to China, India and other Asian countries than to any other emerging market region. The Middle East, Russia and east Europe combined are the next most common destinations.
On the personal side, executives are keen to be part of the global and mobile working trend. Four in five executives believe that an assignment in a major emerging market will help their career.
"The recession has held back international assignments," said Paul Lewis, managing editor of Executive Briefing at the Economist Intelligence Unit and editor of the report. "But globalization is a long-term trend, and when the economy shows signs of recovery, expatriate strategy will come back to a mainstream trend."
There are some new challenges for overseas postings, the research found. Returning expatriates are increasingly having heightened career expectations, which presents a management dilemma, particularly in a depressed economic environment where fewer senior opportunities might be available.
Also, understanding local culture is seen as one of the greatest difficulties for expatriate managers.
Compared with the situation in the past two difficult years when 37 percent of respondent companies recalled overseas staff and only a little more than 10 percent added to their expatriates head account, 39 percent said they plan to raise expatriate staff levels over the next five years, according to the Economist Intelligence Unit and Regus.
The research surveyed 418 senior executives from 77 different countries and regions in July. It found companies are far more likely to send expatriate staff to China, India and other Asian countries than to any other emerging market region. The Middle East, Russia and east Europe combined are the next most common destinations.
On the personal side, executives are keen to be part of the global and mobile working trend. Four in five executives believe that an assignment in a major emerging market will help their career.
"The recession has held back international assignments," said Paul Lewis, managing editor of Executive Briefing at the Economist Intelligence Unit and editor of the report. "But globalization is a long-term trend, and when the economy shows signs of recovery, expatriate strategy will come back to a mainstream trend."
There are some new challenges for overseas postings, the research found. Returning expatriates are increasingly having heightened career expectations, which presents a management dilemma, particularly in a depressed economic environment where fewer senior opportunities might be available.
Also, understanding local culture is seen as one of the greatest difficulties for expatriate managers.
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