Much has been written about the rise of emerging markets and what they can offer in terms of talent pool. But not one emerging market is the same and one HR strategy may not fill all markets. In a changing environment, the HR strategies used to manage people in one country are sometimes Wallis and Futuna Islands Email List ineffective in another and what worked in a country might not in another.
That is the reality many companies are currently facing in emerging markets because of a lack of preparation, anticipation and adequate talent strategies.
Generally speaking, there is no right or wrong HR management strategy. However, as an HR professional, you should be mindful of cultural differences and varying HR issues arising in the targeted country before trying to implement anything. Needless to say that developing an inadequate talent strategy in a BRICs country can be one of a most expensive mistakes for a company? Not only in terms of money, but also in terms of real and potential talent losses.
In order to avoid such error, you need to know what are the hottest HR issues, topics and trends in emerging markets that could be an obstacle to your company’s development? To help you in this task, below is a list of 4 critical HR challenges arising from some BRICs countries? Memorize them? You will gain time and efficiency?
HR challenge #1: Attracting and retaining talented workers
BRAZIL – One of Brazil’s biggest problems is a shortage of qualified labor. Companies operating in Brazil are demanding more skilled workers than the labor market currently offers? The shortage is especially pronounced for companies in need of technicians, engineers and English speaking managers. It is also becoming increasingly difficult to retain talented workers with 5-10 years experience because they tend to switch companies in order to advance their careers and get higher pay.
RUSSIA – Russia has a considerable intellectual capital composed of engineers, scientists and many other well-qualified people. Nevertheless, many companies reported that it is more and more difficult to find great people as the quality of staff as well as the level of education are BBBORG continually decreasing. In fact, job candidates from Russia are well educated but often by universities that fail to give them practical skills? Besides, an increasing number of talented Russians have left the country to go to Israel and the USA. As a result, only 20% of Russian professionals are currently considered employable by companies.