High-Growth Markets Like China and India Require Unique Workforce Strategies According to New Research
Identifying local business situations and adapting global practices are critical for success
Online, December 16, 2013 (Newswire.com) - New research by Drs. James and Alison Eyring of Organisation Solutions suggests that many companies in high-growth markets like China and India are not getting their HR strategies right.
Companies can optimize success in these demanding markets by creating workforce strategies and corresponding practices that match local business and market demands. Unfortunately, many organisations rely on global or regional strategies that fail to meet local demands. Ultimately, this impacts the company's ability to attract and retain talent, which impacts its business results.
The research on over 30 companies in China, India and Indonesia examined how large MNCs determined their local HR strategies. The most successful companies adapted their strategy to the local market. For example, successful companies in China tended to focus on Key Talent Strategies to attract, develop and retain great talent. Successful companies in India tended to focus on Position Planning Strategies to ensure they have successors for key roles.
"Being strategic is about getting off the treadmill. So often in rapidly growing organizations, we are putting processes in place to close gaps. However, growth is causing the gaps to grow faster than we can close them. A good strategy gets us ahead of the curve and prevents the gaps from appearing in future," explains Dr. James Eyring, COO of Organisation Solutions.
The research shows that it is important that the company's strategy is relevant in the local marketplace. To meet this test the strategy should be integrated, comprehensive, differentiated and well executed. An internal audit of HR processes allows a company to identify a few key areas for improvement.
Finally, successful companies examine how they can adapt global HR practices to the local market so that they can drive business growth in emerging markets.
"Over the past five years, many companies have standardized their HR process globally to cut costs and spread best practices across the globe. This approach creates problems in high-growth markets," according to Dr. Alison Eyring, CEO of Organisation Solutions.
Creating a balance between local and global HR strategies is critical in addressing the unique needs and creating success in high-growth markets.
The research is based on a two-year study of over 30 large, global MNCs operating in China, India and Indonesia. The white paper summary of the research is a must read for executives and HR practitioners who work in or with high-growth markets. For a copy of "Workforce Strategy for High-Growth Markets," by Drs. James and Alison Eyring of Organisation Solutions, which explains how to create a corporate workforce strategy and the corresponding processes that will work for your company, please contact Andrea McIntyre. This white paper is available free of charge.
About Organisation Solutions
Since 2000, Organisation Solutions has worked to help clients grow sustainably through improved strategy execution and accelerated team and leadership development. The company is headquartered in Singapore and operates globally with emphasis on high-growth and emerging markets. Its team has more than 40 consultants located across 5 continents. For more information please visit www.organisationsolutions.com.
For media enquiries
Please contact Andrea McIntyre at +65 6557 0914 or andrea.mcintyre@organisationsolutions.com